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7.A. - Page 37 of 101 <br />Explain how federal funds will leverage those additional resources (private, state and local <br />funds), including a description of how matching requirements will be satisfied <br />The City receives direct entitlement grants for Federal CDBG and HOME Program funds that are used to <br />fund eligible activities, addressing needs identified by the local community. The City manages a variety <br />of programs and provides developer loans for new construction or acquisition/rehabilitation projects. <br />Program income from this portfolio augments the CDBG and HOME grants. Program income also comes <br />from the now defunct Rental Rehabilitation program. <br />CDBG subrecipients will be leveraging a total of approximately $8.3 million in other financial resources <br />from private, state and local resources. The City will utilize other financial resources from private, state <br />and local resources. As an example, the City also provides $100,000 from the General Fund annually for <br />Human Services Financial Assistance (HSFA) to support basic human needs services. This is to increase <br />the City's support for public services since CDBG regulations limit funding to 15 percent of the total <br />award. <br />Section 8 funds are provided to San Mateo residents through the San Mateo County Housing Authority. <br />McKinney-Vento Homeless Assistance Act funds are managed by the San Mateo County Human Services <br />Agency as part of the Continuum of Care, in which San Mateo participates. The County of San Mateo <br />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 <br />public/private partnership whose goal is to raise funds to create affordable housing opportunities in San <br />Mateo County. <br />Low -Income Housing Tax Credits are offered through the State on a competitive process and with the <br />dissolution of Redevelopment, applications for these funds are expected to become even more in <br />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 <br />and supports legislation that promotes and increases resources for affordable housing. <br />The City of Redwood City has not allocated its HOME funds to any specific housing project. The City has <br />a large amount of banked match from previously funded HOME projects to meet HUD match <br />requirements once a housing project is identified. <br />If appropriate, describe publicly owned land or property located within the jurisdiction that <br />may be used to address the needs identified in the plan <br />The Fair Oaks Community Center is owned by the City and provides space for many nonprofits to <br />operate their programs out of. These programs include: information and referral program, homeless <br />help desk, mobile shower and laundry service, home sharing program, older adult activity center, older <br />adult food programs, older adult counseling, childcare and early child development center, immigration <br />Annual Action Plan <br />2021 <br />OMB Control No: 2506-0117 (exp. 06/30/2018) <br />27 <br />444 <br />