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Planning and Building Department, Planning Division, Long Range Planning Unit, Housing, Community and Economic Development (HCED) Program, recommending the Board authorize the extension of a temporary, interest-free loan from the General Fund to the Community Development Block Grant HCED fund, to be repaid upon HCED's receipt of the grant funding, no later than September 30, 2023.
FUNDING: Federal Community Development Block Grant Funds.
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DISCUSSION / BACKGROUND
The State of California Department of Housing and Community Development (HCD) issued a Notice of Funding Availability (NOFA) dated January 21, 2020, for the Community Development Block Grant (CDBG) Program.
On March 24, 2020 (File No. 20-0311, Item No. 23), the Board adopted Resolution 049-2020 to submit a project application for an allocation for up to $1,000,000 of the Infill Infrastructure Grant (IIG) Program funds in cooperation with Pacific Southwest Community Development Corporation (“Co-Applicant”), Managing General Partner of the Diamond Village Apartments in Diamond Springs.
On November 17, 2020 (File No. 20-1316, Item No. 12), the Board approved a Traffic Impact Fee Offset in the amount of up to $1,065,474 to the Diamond Village Apartments contingent upon executing a Traffic Impact Fee Offset Agreement that includes a Recapture Agreement, Rent Limitation Agreement and a Residential Anti-Displacement Agreement, to restrict 80 rental units for fifty-five (55) years for very-low and low-income tenants.
On June 23, 2020 (File No. 20-1733, Item No. 37), the Board approved Resolution 096-2020 authorizing application to HCD in response to a NOFA dated January 21, 2020, for the CDBG Program. Eligible applicants for CDBG grant assistance include a city or county that does not receive a direct allocation of CDBG funds from the United States Department of Housing and Urban Development (HUD) or is participating in an Urban County Agreement. In response to the 2020 NOFA, the County of El ...
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