Title
Approval of a Substantial Amendment to the 2023-27 Community Development Block Grant Consolidated Plan
Recommended Action
Committee Recommendation:
The Community Livability and Public Safety Committee recommend approval of the Substantial Amendment to the 2023-27 Community Development Block Grant Consolidated Plan.
City Manager Recommendation:
Move to approve the Substantial Amendment to the 2023-27 Community Development Block Grant Consolidated Plan.
Report
Issue:
Whether to approve the Substantial Amendment to the 2023-27 Community Development Block Grant Consolidated Plan.
Staff Contact:
Anastasia Everett, Senior Housing Program Specialist, Community Planning & Economic Development, 360.753.8277
Presenter(s):
None - Consent calendar item.
Background and Analysis:
On May 27, staff presented the proposed Substantial Amendment to the Community Livability and Public Safety Committee. The Committee voted to recommend the dissolution of the Revolving Loan Fund and future projects to the Rental Rehabilitation Program due to constraints in staff capacity and low program impact. Since its establishment in 2021, two projects have been completed, and one is underway.
The project currently underway is the rehabilitation of a 12-unit multifamily property rented at affordable rates to tenants, most of whose income is at least below 80% area median income. Funding already allocated to the project currently underway will be retained for the completion of that project.
Dissolving the rental rehabilitation program will help the City ensure timely spend down of Community Development Block Grant funds. Staff have consulted with the Department of Housing and Urban Development on the process for dissolving the loan fund and are following the processes provided. Funds formerly routed to the Revolving Loan Fund are proposed to be reintegrated with Program Income to be spent on activities identified as Contingency Projects in each Annual Action Plan process.
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