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Home My WebLink AboutSummary FormDate: 12/03/2010 AGENDA ITEM SUMMARY FORM FILE ID: I o — ©) y 2.3 Law Department Matter ID No. Requesting Department: Community Development Commission Meeting Date: 01/13/2011 District Impacted: 1,2,3,4,5 Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item ❑ Other Subject: HOME funding 2011-2012 Purpose of Item: AUTHORIZING THE ALLOCATION OF HOME INVESTMENT PARTNERSHIP PROGRAM ("HOME") FUNDS, IN THE PROJECTED AMOUNT OF $4,974,286, FOR HOUSING PROGRAMS, FOR PROGRAM YEAR 2011-2012, IN THE CATEGORIES AS SPECIFIED IN ATTACHMENT "A', ATTACHED AND INCORPORATED, FOR THE DEVELOPMENT OF AFFORDABLE HOUSING; AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENTS FOR SAID PURPOSE(S). Background Information: Please see attached Budget Impact Analysis NO Is this item related to revenue? NO Is this item an expenditure? If so, please identify funding source below. General Account No: Special Revenue Account No: CIP Project No:. NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds? Start Up Capital Cost: Maintenance Cost: Total Fiscal Impact: Final Approvals (SIGN AND DATF,1 CIP Budget If isinR o:ieciiiVinR eapifal-ftirids Grants Risk Management Purchasing Dept. Dire Chief / �/ G. EIC City Manager Page 1 of 1 AGENDA ITEM SUMMARY FORM CONTINUED Background Information: The U.S. Department of Housing and Urban Development ("HUD") has yet to release the final Community Planning and Development Program Formula Allocations for Program Year 2011, as such, the amount of HOME funds being recommended is a projection. The Administration recommends the allocation of HOME funds, in the projected amount of $4,974,286, for Program Year 2011-2012; in the categories as specified in Attachment "A", attached and incorporated, for the provision of decent and affordable housing to low income households. The funding allocation to such activities as specified in Attachment "A", may need to be adjusted once HUD confirms the final HOME formula allocation for Program Year 2011-2012.