MEETING DATE:
February 27, 2024
SUBJECT:
Title
RESOLUTION NOS. 2024-9266 & 2024-9267 - AUTHORIZING THE APPLICATION FOR PERMANENT LOCAL HOUSING ALLOCATION (PLHA) FUNDS, ADOPTING THE PLAN FOR THE PLHA PROGRAM, AUTHORIZING THE ESTABLISHMENT OF A NEW FUND, AND AMENDING THE CITY'S ADOPTED ANNUAL OPERATIONS AND CAPITAL IMPROVEMENT BUDGET AS NEEDED
Body
Recommendation
Recommendation
ADOPT the following resolutions:
1. Resolution No. 2024-9266 authorizing the City Manager or designee(s) to execute on behalf of the City of San Marcos all documents including, but not limited to, applications, agreements, amendments, and requests for payment(s), necessary to secure Permanent Local Housing Allocation (PLHA) funds and adopting the PLHA Plan.
2. Resolution No. 2024-9267 authorizing the establishment of a new fund and amending the City's adopted Annual Operations and Capital Improvement Budget as needed.
Body
Board or Commission Action
Not applicable
Relevant Council Strategic Theme
Planning for the Future
Executive Summary
The California Department of Housing and Community Development (HCD) recently announced the Permanent Local Housing Allocation (PLHA) program for 2020-2023. The PLHA program is funded with moneys deposited in the Building Homes and Jobs Trust Fund (Fund) established from Senate Bill 2 (SB 2) which authorized a recording fee on real estate documents beginning in 2019 to provide funding to local governments for housing-related projects and programs that assist in addressing the unmet housing needs of local communities. The City of San Marcos ("City") has been allocated a grant amount not to exceed a five-year estimate of $1,915,068.
Jurisdictions receiving PLHA grant funds are required to have a five (5) year plan in place to determine how those grant funds will be spent. This five-year plan does not necessarily need to identify specific projects to qualify; however, the plan must result in expenditure of a portion of the grant funds ea...
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