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7.A. - Page 3 <br />ALTERNATIVES <br />Council may choose to modify the recommendations for the Fiscal Year 2011 -2012 <br />Action Plan. <br />FISCAL IMPACT <br />Upon submittal of an approved Action Plan, the City will receive an estimated <br />$1,032,000 in CDBG and HOME entitlement funds for housing and community <br />development activities for fiscal year 2011 -2012. There is $14,000 of prior year program <br />income revenue reallocated to 2011 -2012 activities and approximately $225,000 is <br />expected to be received from principle and interest payments from revolving loans funds <br />(dedicated program income). The total Action Plan budget for fiscal year 2011 -2012, <br />including all sources of program income is $1,271,000.00. <br />ENVIRONMENTAL REVIEW <br />All of the activities proposed for funding have been determined to be exempt or <br />categorically excluded under the National Environmental Protection Act (NEPA), or will <br />be subject to further reviews when specific sites are determined. The City has also <br />recorded a Notice of Exemption with the San Mateo County Recorder for the Annual <br />Action Plan application pursuant to California Environmental Quality Act regulations <br />(CEQA). <br />ATTACHMENTS <br />- Resolution <br />- Executive Summary <br />- Action Plan budget <br />STAFF ORIGINATOR <br />PLANNING MANAGER <br />i, a <br />CITY MANAGER <br />