MEETING DATE:
AUGUST 11, 2015
SUBJECT:
Title
RESOLUTION NO. 2015-8111 - PROPOSED SUBSTANTIAL AMENDMENT TO THE COMMUNITY DEVELOPMENT BLOCK GRANT 2014-2018 CONSOLIDATED PLAN AND DRAFT 2015-2019 CONSOLIDATED PLAN APPROVAL
Body
Recommendation
Recommendation
ADOPT a resolution approving the proposed Substantial Amendment to the City's Community Development Block Grant (CDBG) 2014-2018 Consolidated Plan and the Draft 2015-2019 Consolidated Plan and authorize submission of the Draft 2015-2019 plan to the U.S. Department of Housing and Urban Development (HUD).
Body
Board or Commission Action
Not Applicable
Relevant Council Strategic Theme
Quality of Life
Relevant Department Goal
Not Applicable
Introduction
The City of San Marcos receives an annual allocation of CDBG and HOME funds as an entitlement community from the U.S. Department of Housing and Urban Development (HUD). CDBG and HOME funds are provided by the federal government to develop viable urban communities by providing decent housing, economic opportunities and a suitable living environment for the City's low - and moderate-income residents. In order to receive the grant funding, the City is required to develop a three-to five-year Con Plan in addition to several other administrative requirements. In order to receive HOME Investment Partnerships funds, the City of San Marcos is a member of the San Diego County HOME Investment Partnerships (HOME) Consortium. The Consortium is comprised of the County of San Diego and the cities of Carlsbad, Encinitas, La Mesa, San Marcos, Santee, and Vista. HOME funds are provided by the federal government and may be used to provide first-time homebuyer loans, homeowner rehabilitation loans, rental unit development and tenant-based rental assistance for persons who earn at or below 80% of the San Diego County Area Median Income (AMI). Due to new HOME fund regulations promulgated by HUD, the County of San Diego stopped disbursing HOM...
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