Title
Adoption of Resolution Approving Continued Participation in the Alameda County HOME Consortium and Authorize the City Manager to Execute the HOME Consortium Cooperative Agreement with Alameda County. (Housing 235)
Body
To: Honorable Mayor and Members of the City Council
From: John A. Russo, City Manager
Re: Adoption of Resolution Approving Continued Participation in the Alameda County HOME Consortium and Authorize the City Manager to Execute the HOME Consortium Cooperative Agreement with Alameda County.
BACKGROUND
Title II of the Cranston-Gonzales National Affordable Housing Act of (NAHA) of 1990 created the HOME Program, which provides financing for a wide range of affordable housing programs and activities that benefit low- and moderate-income households and special populations, such as the elderly and persons with disabilities. Program funding levels have fluctuated over the years, but in the last two years, the federal budget for HOME has been cut to nearly half of what was allocated prior to Fiscal Year (FY) 2012-13. In FY 2103-14 the City received $144,253 and in FY 2014-15, it will receive $136,240 and $83,889 in program income. The City Council has previously approved the use of $367,043 over three years from the FY 2013-14, 2014-15, and 2015-16 HOME grants, to be used for pre-development expenses for the affordable housing units being built on Lot 108 at Alameda Landing. For FY 2014-15, approximately $79,695 in HOME grant funds remain unobligated.
Based on current population levels, Alameda is not eligible to receive HOME funds directly. Therefore, for the past 20 years, Alameda has received funding from this program through its participation in the Alameda County HOME Consortium (Consortium). The City's continued participation in the Consortium must be approved by the Council at three-year intervals and the Consortium Cooperative Agreement executed to allow receipt of future funds. The City also executes a contract designa...
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