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7.B. - Page 35 of 79 <br />Explain how federal funds will leverage those additional resources (private, state and local funds), including a description of <br />how 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 manages a <br />variety of programs and provides developer loans for new construction or acquisition/rehabilitation projects. Program income from this portfolio <br />augments the CDBG and HOME grants as well as now defunct programs such as the City's Redevelopment Agency, HUD's Rental Rehabilitation <br />program and CalHOME owner rehabilitation loan program. <br />Section 8 funds are provided to San Mateo residents through the San Mateo County Housing Authority. McKinney-Vento Homeless Assistance Act <br />funds are managed by the San Mateo County Human Services Agency as part of the Continuum of Care, in which San Mateo participates. The County <br />of San Mateo also supports housing projects countywide with its HOME and CDBG funds which often are used to leverage City resources. The <br />Housing Endowment and Regional Trust (HEART) of San Mateo County is a public/private partnership whose goal is to raise funds to create <br />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, applications for <br />these funds are expected to become even more in demand and competitive. The City will support developer applications for tax credits and other State <br />Housing programs as they become available for appropriate and eligible projects. The City also tracks and supports legislation that promotes and <br />increases resources for affordable housing. <br />Annual Action Plan <br />2020 <br />OMB Control No: 2506-0117 (exp. 06/30/2018) <br />26 <br />496 <br />