TITLE
Recommendation to adopt resolution authorizing the submittal of an application to the California State Department of Housing and Community Development (HCD) for funding under the Workforce Housing Reward Program, execution of a standard agreement and any such amendments thereto, if selected for such funding, and the execution of any additional documents necessary to participate in the Workforce Housing Reward Program. (Citywide)
DISCUSSION
In March 2004, the California State Department of Housing and Community Development (HCD) released a Notice of Funding Availability under the Workforce Housing Reward Program (WFH Program). The WFH Program is funded through
Proposition 46, the Housing and Emergency Shelter Trust Fund Act of 2002. It is an innovative new program designed to incentivize and reward cities and counties that approve housing for very low-income or low-income households and are in compliance with State housing element law. The Program also provides additional bonus grants to
communities that have made significant progress in meeting their share of the regional housing need. The WFH Program does not use a competitive process to award funds. All cities and counties who meet the eligibility requirements will be funded. WFH Program funds will be awarded based on the number of bedrooms in newly constructed housing units that
are affordable to very low- and low-income households with building permits issued between January 1, 2004 and December 31, 2004. In addition, cities that were
awarded funds under the Jobs Housing Balance Program (JHBP) in 2003 will receive additional bonus funds under the WFH Program. The City of Long Beach was awarded
$918,603 in JHBP funds in 2003, and those funds augmented funding for the new Mark Twain Library. Grant funds provided under the WFH Program must be used for capital asset projects that benefit the community and add to the community's quality of life. Recipients of the WFH Program funds are anticipated to be an...
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