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<br /> Consolidated Plan REDWOOD CITY 117 <br />OMB Control No: 2506-0117 (exp. 06/30/2018) <br /> <br />Table 55 - Expected Resources – Priority Table <br /> <br />Explain how federal funds will leverage those additional resources (private, state and local funds), including a description of how <br />matching requirements will be satisfied <br />The City receives direct entitlement grants for Federal CDBG and HOME Program funds that are used to address identified needs. The City <br />manages a variety of programs and provides developer loans for new construction or acquisition/rehabilitation projects. Program income from <br />this portfolio augments the CDBG and HOME grants as well as now defunct programs such as Redevelopment, HUD’s Rental Rehabilitation <br />program and former CalHOME owner rehab loan program. The City has sufficient carryover of HOME matching funds from prior year HOME <br />projects to satisfy all HOME match requirements during this planning period. <br />Section 8 funds are provided to San Mateo residents through the San Mateo County Housing Authority. McKinney-Vento Homeless Assistance <br />Act funds are managed by the San Mateo County Human Services Agency as part of the Continuum of Care, in which San Mateo <br />participates. The County of San Mateo also supports housing projects countywide with its HOME and CDBG funds which often are used to <br />leverage City resources. The Housing Endowment and Regional Trust (HEART) of San Mateo County is a public/private partnership whose goal is <br />to raise funds to create affordable housing opportunities in San Mateo County. <br />Low-Income Housing Tax Credits are offered through the State on a competitive process and with the dissolution of Redevelopment, <br />applications for these funds are expected to become even more in demand and competitive. The City will support developer applications for tax <br />credits and other State Housing programs as they become available for appropriate and eligible projects. The City also tracks and supports <br />legislation that promotes and increases resources for affordable housing. 6.3.F. - Page 129