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12 <br />HOME Investment Partnership Program (HOME) <br /> <br />The City of Pleasanton participates with other Alameda County HOME Consortium <br />jurisdictions to receive and administer federal HOME Investment Partnership (HOME) <br />Program funds. The City receives its HOME funding allocation each year through <br />Alameda County. <br /> <br />The Consortium adopted a Five-Year Consolidated Plan in May 2020 covering fiscal <br />years 2020 through 2024 and will adopt an updated plan in 2025 for fiscal years 2025 <br />through 2029. Participating jurisdictions update the Consolidated Plan with one-year <br />Action Plans outlining resources and activities to be undertaken during the next fiscal <br />year regarding housing and community development issues. <br /> <br />All HOME-funded activities must meet at least one of the National Objectives stated in <br />Title 42, Chapter 130, Subchapter II, Section 202: <br /> <br />1. Expand the supply of affordable rental housing to very low and low-income <br />persons and families. <br />2. Improve homeownership opportunities for very low and low-income persons <br />and families. <br />3. Expand the capacity of nonprofit providers of lower-income housing. <br />4. Encourage private-sector participation in the development of lower-income <br />housing. <br /> <br />Participating Jurisdictions, or PJs [e.g., the City of Pleasanton as a member of the <br />Alameda County HOME Consortium], may choose among a broad range of eligible <br />activities, per 24 CFR 92.205 and 92.206: <br /> <br />• Provide home purchase or rehabilitation financing assistance to eligible <br />homeowners and new homebuyers <br />• Build or rehabilitate housing for rent or ownership or for "other reasonable <br />and necessary expenses related to the development of non-luxury housing," <br />including site acquisition or improvement, demolition of dilapidated housing to <br />make way for HOME-assisted development, and payment of relocation <br />expenses <br />• Provide tenant-based rental assistance contracts of up to two (2) years if such <br />activity is consistent with their Consolidated Plan and justified under local <br />market conditions <br /> <br />Page 24 of 43