City Council

5.4 Housing Successor Agency: Appropriation of $4,550,000 in Low and Moderate Income Housing Asset Funds for Fiscal\nYear 2024/25\nReport Number: 24-0194\nLocation: No specific geographic location\nDepartment: Housing and Homeless Services\nG.C. § 84308: No\nEnvironmental Notice: The activity is not a “Project” as defined under Section 15378 of the California Environmental Quality Act State\nGuidelines. Therefore, pursuant to State Guidelines Section 15060(c)(3) no environmental review is required.\nRECOMMENDED ACTION:\nCity Council and Housing Authority adopt a resolution: 1) authorizing the use of Housing Successor Agency Low and Moderate Income\nHousing Asset Funds for Fiscal Year 2024/25, in the amounts of $300,000 for administration, $200,000 for the Homelessness Prevention\nProgram, $50,000 for the Landlord Incentive Program, and $4,000,000 in “excess surplus” funds for the development of affordable housing;\n2) authorizing the City Manager/Housing Authority Director or designee to execute documents consistent with the proposed activities; and\n3) appropriating funds therefore. (4/5 Vote Required)