REPORT TO COUNCIL
SUBJECT
Title
Approve Budget Modification No. 19 in the Amount of $2,273,226 for the Permanent Local Housing Allocation Grant Program to Complete Housing Projects and Address Unmet Housing Needs in Sunnyvale
Report
GRANT SUMMARY
Approval is requested for Budget Modification No. 19 in the amount of $2,273,226 for the Permanent Local Housing Authority (PLHA) grant program. The PLHA program is administered by the State Department of Housing and Community Development (HCD). The PLHA program provides advance funding to local jurisdictions for housing-related projects and programs that address unmet housing needs in their communities.
PLHA funds are derived from a real estate recording fee and are allocated annually to jurisdictions based on population size and other demographic factors. Because real estate transfers vary every year, HCD has projected allocation amounts for calendar years 2022 and 2023; actual allocation amounts for those years may vary. HCD projects the City's total PLHA funding allocation for the 2019-2023 five-year allocation period to be $3,198,138. $2,273,226 are final funding allocations and available for appropriation and $924,912 are estimates of future funding allocations. A summary of PLHA funding allocations for the City is shown below:
In October 2022, City Council adopted Resolution No. 1152-22 (Attachment 1), approving the City's PLHA plan for the 2019-2023 five-year allocation period. Pursuant to the City's PLHA plan and the executed PLHA Standard Agreement (Attachment 2), the City will use PLHA funds for the projects listed below. Allocated funds must be disbursed within fifty-eight months from the budget appropriation date of July 1 for each applicable allocation year (e.g., 2019 expenditure deadline is 4/30/24).
The current action is a budget modification that appropriates the PLHA grant funds which enables the City to accept the PLHA funds from HCD to expend on the following projects:
* Affordable Multifa...
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