HC 03-14-2024 Presentations
Housing Commission
Meeting
March 14, 2024
Presentations
Item 3
Fiscal Year (FY) 2024-25
Community Development Block
Grant (CDBG) Program and
Below Market Rate Affordable
Housing Fund (BMR AHF)
funding allocations
Alec Vybiral, Senior Housing Coordinator
March 14, 2024
Fiscal Year (FY) 2024-25
Grant Funding Allocations
Purpose
Consider the FY 2024-25 CDBG and
BMR AHF funding applications and
make funding recommendations.
Funding Source Amounts (est.)
Capital Housing Funds
Below Market Rate Affordable Housing Fund (BMR AHF)$4,250,000
Community Development Block Grant (CDBG)$151,705.80
Total $4,401,705.80
Funding Sources (est.)
CDBG Capital Housing Funds
1 CDBG Capital Housing Projects
FY 2024-25 Application
Summary Funds Available Funding
Requests
City Staff Funding
Recommendations
FY 2023-24
Funding
Allocations
a
Rebuilding Together Silicon
Valley-Homeowner Repair
and Rehabilitation Program
$96,237.00 $96,237.00 $92,536.00
b
City of Cupertino –Senior
Center Cooling System
Improvements
$266,000.00 $55,468.80 $367,951.38
Total $151,705.80 $362,237.00 $151,705.80 $460,487.38
Public Service Grants
●Operate on multi-year funding cycles
●Cycles are determined by the timeframe in the
City’s Consolidated Plan
●The current cycle covers FY 2023-24 and 2024-25
●Public service grants for the next funding cycle will
be brought to the Housing Commission next year
Next Steps
City Council to approve funding
recommendations at meeting on April 16th.
Senior Center Cooling System
Improvements
●The packaged AC units at the City's Senior
Center are approaching the end of their
expected useful life and need to be replaced.
●Would utilize $55,468.80 of CDBG funds
●This project meets HUD CDBG eligibility criteria,
and was identified as a high priority project by
City staff