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CC 04-06-2021 Item No. 18 FY 21-22 Funding Allocations_Staff Presentation
Kerri Heusler, Housing Manager April 6, 2021 FY 2021-22 Funding Allocations CC 04-06-2021 Item No. 18 Timeline Nov 10, 2020 Annual Notice of Funding Availability (NOFA) / Request for Proposals(RFP) issued Feb 9, 2021 NOFA/RFP deadline Mar 11, 2021 Housing Commission meeting April 6, 2021 City Council meeting Funding Sources Capital Housing Projects: 1. Community Development Block Grant (CDBG) 2. Below Market Rate (BMR) Affordable Housing Fund (AHF) 1. CDBG FY 21-22 Budget FY 21-22 CDBG Budget Entitlement Amount $406,806.00 Program Income FY 20-21 $7,944.00 Sub-Total $414,750.00 Program Administration (20%)$82,950.00 Public Service (15%) $62,212.50 Capital/Housing Projects (65%) + $48,000 Unused FY 20-21 CDBG funds $317,587.50 Total $462,750.00 1. CDBG Capital Housing Funds FY 21-22 Application Summary Funding Recommendations a Rebuilding Together Silicon Valley- Housing Repair and Rehabilitation Project $97,318.00 B West Valley Community Services (WVCS) -Vista Village Renovation Project $220,269.50 Sub-Total $317,587.50 2. BMR AHF Capital Housing Funds FY 21-22 Application Summary Funding Recommendations a Pacific West Communities, Inc.- Westport Project Not recommended for funding Sub-Total $0 Reporting and Monitoring ●Ongoing Technical Assistance ●Quarterly / Annual Reports ●CDBG Compliance Next Steps ●Adopt Resolution ●Execute Contracts