Item 23 - Public Hearing - FY 2025-29 5 Year Plan, Annual Action Plan for CDBG, HOME, and ESG Programs

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Orange County 233 25-29 Regional AFH on all City social media accounts and include information on vacant land currently owned by the City. 22. The City will access information from HCD and other State agencies to identify grant application opportunities for affordable housing. When grant opportunities are known, the City will reach out to affordable developer stakeholders to identify projects and/or opportunities to include on grant applications. The City will apply or support a minimum of three (3) grant application each year. The goal of this program would be to increase the amount of funding available for affordable housing projects, which require public subsidies to be built. Timing dependent on State HCD and other departments 23. The City will retain a consultant to conduct a feasibility study on increasing the inclusionary housing requirement from 15 percent (5 percent very low, 5 percent low, and 5 percent moderate) to 20 percent (9 percent very low, 6 percent low, and 5 percent moderate). The policy changes proposed to Planning Commission and City Council, if deemed feasible in the study, will include increasing the inclusionary requirement to 20 percent with corresponding updated in-lieu fee By October 2024 24. The City will identify and analyze local funding options for affordable housing and monitor new funding and financing resources each year. This program will also include using State and Federal funding received by the City to partner with nonprofit organizations (such as the ICLT), as the commitment of City funding can enhance the scoring of 100 percent affordable projects to secure important funding sources, such as low- income housing tax credits (LIHTCs) that have become highly competitive. Annually 25. The City will identify and utilize State programs and/or potential public/private partnerships with major employers to acquire existing market rate housing units or develop new housing units to create moderate or workforce housing (available to households with incomes at 80 percent to 120 percent of AMI) Ongoing 26. The City will follow all requirements of the Surplus Land Act, Article 8 (commencing with Section 54220) of Chapter 5 of Part 1 of Division 2 of Title 5, including holding a public hearing designating the properties as “surplus properties” under California Law. The City will also conduct an analysis to determine, based on market conditions, if selling or leasing the properties would maximize the development of affordable units. The City will then send a Notice of Availability to all required parties regarding the availability of County-owned land available for purchase or lease. It is the City’s intent to facilitate the Surplus Land Act activities to be completed by October 2024 and Notice of Availability by December 2025 EXHIBIT 6