Title
Funding Recommendations for Fiscal Year (FY) 2022-23 Annual Action Plan
Recommended Action
1. Recommend and forward to the City Council the Fiscal Year 2022-23 Annual Action Plan for Community Development Block Grant and Home Investment Partnership Program funds, as described in Attachment 1 to this memorandum.
2. Recommend an allocation of approximately $1,509,789 ($738,112 of available Community Development Block Grant, $771,677 of available Home Investment Partnership Program funds) for capital projects, including the potential acquisition and rehabilitation of the Crestview Hotel, a project that would meet various housing needs, and/or other affordable housing projects.
3. Related to Recommendation No. 2, if the actual grant amount received from the U.S. Department of Housing and Urban Development for Community Development Block Grant and Home Investment Partnership Program Federal Program Year 2022-23 is different than the estimated amount, then the amount allocated to the potential acquisition and rehabilitation of the Crestview Hotel and/or other affordable housing projects will be adjusted accordingly.