To: Honorable Mayor and Members of City Council
From: Vincent Smith, Community Development Director
Prepared By: Lark Ferrell, Housing Manager
TITLE:
Title
CalHome Disaster Assistance Grant
LABEL
RECOMMENDED ACTION:
Recommendation
Adopt a resolution authorizing the acceptance of a grant from the 2019 CalHome Program Disaster Assistance funds from the State of California Department of Housing and Community Development in the amount of $2,130,000 to be made available to qualified households, including those impacted by eligible 2017 and 2018 disasters; and approving both revenue and expenditure budget adjustments to appropriate the grant revenue in the CalHome Fund in the amount of $2,130,000, as documented in Budget Adjustment Form No. BE-2111503.
Body
DISCUSSION:
The City has been awarded a $2,130,000 grant from the State CalHome Program's Disaster Assistance funds. Napa qualified for this funding due to the October 2017 North Bay wildfires. This grant will provide homebuyer assistance in the form of deferred, no-interest loans of up to $100,000 to approximately 20 eligible households for the purchase of homes in Napa. It will also provide funds for staff to deliver the program. Under the terms of the grant, at least 75% of the funds must be used to assist low and moderate income households who were impacted by a qualifying 2017 or 2018 disaster. This includes households who have been:
1. Directly displaced by an eligible disaster;
2. Directly displaced as a result of the disaster because their landlords moved into their rental properties; or
3. Economically displaced because their rents increased by 5% or more within six months of the disaster.
Because staff did not anticipate receiving this grant when the City's two year budget was adopted in June 2019, a budget adjustment is needed to implement the grant in Fiscal Year 2020-2021.
FINANCIAL IMPACTS:
Approval of this item would provide $2,130,000 in grant funds for first time homebuyer assis...
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