May 13, 2024
Public Hearing
Fiscal Year 2024-2025
Annual Action Plan
(AAP)
1 Annual Action Plan: Outlines the City’s use of its Community Development Block Grant (CDBG) and HOME Investment Partnership Program (HOME) funds in a given year.
Consolidated Plan: Five-year plan for the use of CDBG and HOME funds.
Fiscal Year 2024-25 Annual Action Plan is the last Action Plan of the Five-Year Consolidated Planning period (2020-2025).
OVERVIEW
2 CDBG FUNDS
CDBG OBJECTIVES:
Activities benefitting low income residents
Promote economic development and eliminate blight
ELIGIBLE ACTIVITIES:
Community & Public Facilities
Infrastructure Improvements
Economic Development
Public Services
Business Assistance
CDBG CAPS/LIMITS
20% Program Administration Cap
15% Public Service Activity Cap
3 ESTIMATED CDBG REVENUE (2024-25)
4 NOTICE OF FUNDS AVAILABILITY (NOFA)
NOFA:
Published on January 19, 2024
Received 4 applications
Two Public Services
One Economic Development
One Fair Housing
5 Proposed CDBG Budget & Programs (2024-25)
*Subject to 15% public services cap
6 HOME FUNDS
HOME OBJECTIVES:
Housing activities to retain and increase affordable housing Must serve Low-Income Households
ELIGIBLE ACTIVITIES:
Homeowner Rehabilitation
Development of Affordable Housing
Homebuyer Activities
HOME CAPS/LIMITS
10% Program Administrative Cap
15% minimum CHDO Set-Aside
7 ESTIMATED HOME REVENUE (2024-25)
8 Proposed HOME Budget (2024-25)
9 Public Notice & Comment Period
April 12, 2024: Notice of a 30-Day Public Comment Period and this Public Hearing published in the Los Cerritos community News newspaper
30-Day Public Comment Period Continued: April 12, 2024 – May 13, 2024.
10 Open the public hearing; take testimonial and documentary evidence; and after considering the evidence, adopt Resolution No. 24-21; or
Alternatively, discuss and take other action related to this item.
Recommendation
11