To: Board of Supervisors
From: Planning and Building Department
Agenda Section: Consent
Vote Requirement: 4/5th
SUBJECT:
title
Approval of CalHome Program Policy and Guidelines and Supplemental Budget for Advanced Planning in the amount of $2,660,000 for the CalHome Program (4/5 Vote Required)
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RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Review and approve CalHome Program Policy and Guidelines;
2. Approve the attached Supplemental Budget for Advanced Planning in the amount of $2,660,000 for the CalHome Program (4/5 Vote Required);
3. Direct Auditor to add a new 10-digit Org Key; and
4. Direct Planning and Building staff to implement the Housing and Community Development CalHome Grant.
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SOURCE OF FUNDING:
California State Department of Housing and Community Development (HCD) CalHome Grant; funded by the Affordable Housing Bond Act Trust Fund of 2018.
General Fund - Advanced Planning (1100282)
DISCUSSION:
Your Board approved an application for a $2,660,000 grant through the California Department of Housing and Community Development (HCD) CalHome Program for an owner-occupied rehabilitation loan program (OOR) and accessory dwelling unit loan program (ADU). This action requests approval of a supplemental budget to accept grant funds in the amount of $2,660,000 (Attachment A).
The OOR program allows an owner to repair the home they live in. The ADU program allows the owner to add a unit, thus increasing their income. Currently the Cal Home Program limits participation to individuals and households that earn less than 80% of the area's median income, based on household size. In 2022, an individual earning less than $43,650 per year is eligible to borrow CalHome funds and a household of four people would need to earn less than $62,300 to be eligible. In most cases, the maximum funding amount per loan is $100,000.
The cost to administer the loans are factored into and covered by the grant. There is a ...
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