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7.B. - Page 68 of 79 Program Specific Requirements AP -90 Program Specific Requirements — 91.220(1)(1,2,4) Introduction: The City of Redwood City receives two different entitlement grants from HUD, the Community Development Block Grant ($761,626) and the HOME Investment Partnerships Program Grant ($326,621). These grants are known as CDBG and HOME, respectively. This section refers to program specific requirements that HUD requires all cities receiving CDBG and HOME to report. Community Development Block Grant Program (CDBG) Reference 24 CFR 91.2200)(1) Projects planned with all CDBG funds expected to be available during the year are identified in the Projects Table. The following identifies program income that is available for use that is included in projects to be carried out. 1. The total amount of program income that will have been received before the start of the next program year and that has not yet been reprogrammed 40,000 2. The amount of proceeds from section 108 loan guarantees that will be used during the year to address the priority needs and specific objectives identified in the grantee's strategic plan. 0 3. The amount of surplus funds from urban renewal settlements 0 4. The amount of any grant funds returned to the line of credit for which the planned use has not been included in a prior statement or plan 0 5. The amount of income from float -funded activities 0 Total Program Income: 40,000 Other CDBG Requirements 1. The amount of urgent need activities 2. The estimated percentage of CDBG funds that will be used for activities that benefit persons of low and moderate income.Overall Benefit - A consecutive period of one, two or three years may be used to determine that a minimum overall benefit of 70% of CDBG funds is used to benefit persons of low and moderate income. Specify the years covered that include this Annual Action Plan. 100.00% Annual Action Plan 2020 OMB Control No: 2506-0117 (exp. 06/30/2018) 59 529