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Annual Action Plan for CDBG, HOME and ESG Programs May 4, 2021 Page 6 Relampago del Cielo — Folklorico Dance Instruction $57,325 Taller San Jose Hope Builders — Business Applications $30,000 The Cambodian Family — Plan Ahead Youth Program $34,098 Women's Journey Foundation — Next Generation, Emotional Intelligence Through the Arts $57,500 Young Men's Christian Association of OC — Financial Assistance $40,000 TOTAL $825,173 HOME Investment Partnerships Grant Program Bud( et The HOME Investment Partnerships (HOME) program provides funds for a wide range of housing -related activities including building, buying, and/or rehabilitating affordable housing for rent or homeownership, or providing direct tenant -based rental assistance to low-income residents. The program's flexibility allows HOME funds to be used for grants, direct loans, loan guarantees or other forms of credit enhancements, or tenant -based rental assistance or security deposits. At least 15% of HOME funds must be set aside for specific activities to be undertaken by a special type of nonprofit called a Community Housing Development Organization (CHDO). A CHDO is a private nonprofit, community -based organization that has staff with the capacity to develop affordable housing for the community it serves. In order to qualify for designation as a CHDO, the organization must meet certain requirements pertaining to their legal status, organizational structure, and capacity and experience. The City's HOME allocation for GY 2021, FY 2021-2022 is $1,706,231. The proposed Annual Action Plan for the HOME Program consists of the GY allocation, program income and prior year HOME resources. The large carryover of prior year resources ($6,883,000) is due to the lengthy development process for affordable housing developments. While funds may be pre -committed for a project, they may not be committed until certain requirements are met including underwriting, subsidy layering, and project assessment requirements. In this Annual Action Plan funds are proposed for single-family rehabilitation of mobile homes, the required set -aside for CHDOs, and funds for affordable housing development and rehabilitation. The funds for affordable housing development and rehabilitation ($8,381,309) include a pre -commitment of funds for two affordable housing projects in pre -development: $3,007,489 for the construction of 16 HOME -assisted units at the Crossroads at Washington project, and $2,003,705 for the construction of 9 HOME - assisted units at the Westview House project, as approved by the City Council. The remaining funds will be allocated through a Request for Proposals for Affordable Housing Development to be issued during FY 2021-2022. The budget below only includes those funds that are being budgeted for FY 2021-2022: City Council 22 — 6 5/4/2021