| | | | | | | | Agenda Item - 4.c.
City of Garden Grove
INTER-DEPARTMENT MEMORANDUM
| To: | Scott C. Stiles
| From: | Lisa L. Kim
| | Dept.: | City Manager
| Dept.: | Community and Economic Development
| | Subject: | Adoption of a Resolution authorizing an application for, and receipt of, 2019 CalHome Grant Program funds. (Grant amount estimate: $2,000,000) (Action Item) | Date: | 1/14/2020 |
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| | | | | | | | OBJECTIVE
The purpose of this memorandum is to request that the City Council adopt the attached Resolution authorizing the City Manager or his designee to execute the 2019 CalHome Grant Program application, the Grant Program documents, and any amendments thereto, on behalf of the City as required by the Department of Housing and Community Development for receipt of the Grant and appropriate any funds received from the Grant Program application for the purposes designated during the 36-month Standard Agreement period (FY 2019-20, FY 2020-21, FY 2021-22, and FY 2022-23). |
| | | | | | | | BACKGROUND
On November 27, 2019, the California Department of Housing and Community Development (HCD) released a Notice of Funding Availability (NOFA) offering approximately $57 million in state CalHome Program (Program) funds from the Affordable Housing Bond Act Trust Fund of 2018 to fund Local Public Agencies or Nonprofit Corporations for eligible activities within the Program. Eligible Program activities include, but are not limited to, First Time Home Buyer Mortgage Assistance Loans and ADU/JADU Construction Loans. |
| | | | | | | | DISCUSSION
The City’s Grant Program Application requests funding for the production and administration of a First Time Home Buyer Mortgage Assistance Program and an ADU/JADU Construction Program. The City is requesting a total of $2,000,000 in grant funds ($1,000,000 per activity) to assist 90 Garden Grove residents over a 36-month period. |
| | | | | | | | FINANCIAL IMPACT
There is no impact to the General Fund. However, a successful grant application will bring up to $2,000,000 to the City to assist Garden Grove residents with Mortgage Assistance and ADU/JADU Construction. Further, if awarded, the City is eligible to request up to an additional $100,000 in administrative funds to implement and manage the Mortgage Assistance Program. |
| | | | | | | | RECOMMENDATION
It is recommended that the City Council:
- Adopt the Resolution authorizing the City Manager or his designee to execute the Grant Program application, the Grant Program Documents, and any amendments thereto, on behalf of the City as required by HCD for receipt of the Grant; and
- Appropriate any funds received from the Grant Program application for the purposes designated during the 36-month Standard Agreement period (FY 2019-20, FY 2020-21, FY 2021-22, and FY 2022-23).
By: Nate Robbins, Sr. Program Specialist
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