Title
Accept and Appropriate Permanent Local Housing Allocation (PLHA) Funds for Affordable Housing Projects and Programs
Recommendation
Adopt a Resolution of the City Council of the City of Mountain View: (1) Accepting and Appropriating a State of California Permanent Local Housing Allocation (“PLHA”) Program Award in the Amount of $1,094,136; (2) Allocating $930,000 of the PLHA Funds to the 96 West El Camino Real Affordable Housing Project; (3) Allocating $110,000 of the PLHA Funds to the Below-Market-Rate (“BMR”) Downpayment Assistance Pilot Program; (4) Authorizing Use of up to $54,136 of the PLHA Funds for Eligible Administrative Costs; and (5) Reducing the Previous Appropriation of $8,000,000 from the Housing Impact Fund for the 96 West El Camino Real Project by $930,000, to be read in title only, further reading waived (Attachment 1 to the Council report)