This resolution approves the use of over $5.2 million in federal funds from the HOME Program for affordable housing initiatives in San Francisco for the fiscal year 2021-2022. It allows the Mayor to manage these funds and ensures they can be used until June 30, 2026.
Resolution retroactively approving the Fiscal Year (FY) 2021-2022 HOME Investment Partnership (HOME) Program; and authorizing the Mayor, on behalf of the City and County of San Francisco, to apply for, accept, and expend the City’s FY2021-2022 HOME Program entitlement from the U.S. Department of Housing and Urban Development in the amount of $5,161,731 and to expend Program Income in the amount of $100,000 for a combined total of $5,261,731 for the term of July 1, 2021, through June 30, 2026.
How it got here
The legislation originated from the need to secure federal funding for affordable housing through the HOME Investment Partnership Program.
HUD notified the Mayor's Office of Housing and Community Development (MOHCD) of the grant award for the HOME Investment Partnership Program.
MOHCD finalized the proposed expenditure schedules for the FY 2021-22 HOME program, which included funding allocations for various housing projects.
MOHCD submitted the resolution to the Board of Supervisors for retroactive approval to accept and expend the HOME grant.
The Budget and Finance Committee recommended the resolution for approval to the Board of Supervisors.
The Board of Supervisors adopted the resolution to retroactively approve the HOME Investment Partnership Program funding.
The Mayor approved the resolution, allowing the City to apply for, accept, and expend the HOME Program funds.
Reconstructed from attached documents & the official record
