City Council

5.6 CREATION OF A NEW SPECIAL REVENUE FUND TO MANAGE\nTRANSACTIONS USING THE CITY'S PERMANENT LOCAL HOUSING\nALLOCATION ("PLHA") GRANT FUNDS.\nRecommended Action:\nA. Approve a new Special Revenue Fund No. 224 ("PLHA Housing\nFund") to manage program activities with Permanent Local Housing\nAllocation ("PLHA") grant funds;\nB. Establish a revenue budget of $358,416 and an expense budget of\n$358,416 in Fund 224 for the issuance of HIP/CHIP loans with PLHA\nfunds administered by the Los Angeles County Development Authority;\nand\nC. Determine that the proposed action does not constitute a project and is\ntherefore exempt from the California Environmental Quality Act\n(“CEQA”).\nRequested by: Community Development Department