REPORT TO THE CITY COUNCIL
FROM: JENNIFER CLARK, Director
Planning and Development Department
THROUGH: PHIL SKEI, Assistant Director
Planning and Development Department
BY: MAYRA MERINO, Senior Management Analyst
Housing Finance Division
SUBJECT
Title
***RESOLUTION - Adopt a resolution authorizing submission of an application and acceptance of funding from the State of California Department of Housing and Community Development Local Housing Trust Fund Grant program to provide matching funds to the City of Fresno Local Housing Trust Fund and authorizing the City Manager or designee to sign and submit the application and all necessary implementing documents (Subject to Mayor's veto)
Body
RECOMMENDATION
Staff recommends that the City Council adopt a resolution authorizing and directing the City Manager, or designee, to submit the application and accept funding from the State of California Department of Housing and Community Development (HCD) under the Local Housing Trust Fund Grant Program. This resolution will also authorize the City Manager or designee to execute all necessary documents required for the implementation of this grant, which will provide matching funds to the City's Local Housing Trust Fund.
EXECUTIVE SUMMARY
The State of California Department of Housing and Community Development (HCD) is offering a substantial opportunity for matching grant funds through its Local Housing Trust Fund Program. On July 9, 2024, HCD announced the availability of approximately $53 million in funding intended to support the creation, rehabilitation, or preservation of affordable housing, traditional housing, and emergency shelters. The City of Fresno is eligible to apply for up to $5,000,000 in matching funds, which will significantly strengthen our Local Housing Trust Fund. The application deadline is September 17, 2024.
BACKGROUND
HCD's Local Housing Trust Fund Program is designed to support jurisdictions with establish Housing Trust Funds...
Click here for full text