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Page 2 of 6 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />The Program Year (PY) 2025 Action Plan represents the City’s third year of the 2023-2027 Con Plan and <br />covers the period of July 1, 2025 to June 30, 2026. The PY 2025 Action Plan is included as Attachment B <br />along with an Executive Summary (Attachment C) and Budget (Attachment D). <br />Typically, the PY 2025 Action Plan is required to be submitted to HUD by May 15, 2025. However, due to <br />federal budget delays, HUD did not announce the PY 2025 funding allocations until May 13. Given these <br />delays, HUD has allowed for a modified submission timeline to July 12, 2025 (60 days after the allocation <br />announcement). <br />ANALYSIS <br />For PY 2025, the City will be receiving $654,563 in CDBG funds and $234,678 of HOME funds. This is a <br />3.4% reduction for CDBG and 3.7% reduction for HOME compared to PY 2024. Despite the reduced <br />funding allocations, the City will be able to maintain funding levels due to generating more CDBG and <br />HOME program income, including interest income, than anticipated. In addition to the PY 2025 <br />allocations, the City is budgeting $15,000 in CDBG program income, $206,682 in unspent prior year CDBG <br />funds, and $508,861 in unspent prior year HOME funds. This represents a total of $1,619,785 in federal <br />funds available for PY 2025, as shown in Table 1 below and in Attachment D. <br />Table 1: PY 2025 Available Funds <br />CDBG <br />PY 2025 CDBG Allocation $654,563.00 <br />Estimated PY 2025 Program Income $15,000.00 <br />Prior Year Unspent Funds $206,682.00 <br />Total CDBG $876,245.00 <br />HOME <br />PY 2025 HOME Allocation $234,678.70 <br />Prior Year Unspent Funds $508,861.30 <br />Total HOME $743,540.00 <br />Total CDBG/HOME $1,619,785.00 <br />7.A. - Page 2 of 189 <br />206