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Consolidated Plan CITY OF PLEASANTON 37 OMB Control No: 2506-0117 (exp. 09/30/2021) Explain how federal funds will leverage those additional resources (private, state and local funds), including a description of how matching requirements will be satisfied To maximize leveraging of its own funds and increase the funds available for housing and community development activities, the City of Pleasanton plans to undertake the following activities: • Support applications by organizations or agencies for other public and private sources of financing to leverage City funds. • Include leveraging as a goal to the maximum extent possible in the City’s HHSG funding application review process. • Support the purchase and rehabilitation and new construction of units by nonprofit housing developers. • Promote private sector rehabilitation through the City’s Housing Rehabilitation Program (HRP). • Continue participation in programs to support affordable homeownership. • Continue to provide support to nonprofit, community-based housing developers and service providers in obtaining other sources of financing. • Promote joint development with other governmental or quasi-governmental agencies to implement housing community development programs and combine multiple sources of financing. Matching requirements must be satisfied in the following federal entitlement housing programs: the HOME Program and the Emergency Solutions Grant Program. A variety of non-federal sources may be used for the HOME match requirements, which requires that $0.25 be “permanently contributed” to the HOME Program or to HOME-assisted projects for every HOME dollar spent. This requirement applies to the program as a whole, not to individual projects. The liability for matching funds occurs when the HOME Consortium actually draws down HOME funds from HUD. Sources of HOME match include cash or cash equivalents from a non-federal source, value of waived taxes or fees, value of donated land or real property, a portion of housing bond proceeds, and the cost of infrastructure improvements, among others. As a member jurisdiction, the City must comply with the HOME match requirements that have been established by the County. The County will evaluate match requirements for HOME and determine potential match sources. Some match sources may come from local affordable housing trust funds, housing bond proceeds, the value of waived local fees or permits, foregone property tax revenue, local road funds, private donations, services funded by service providers, the State, County, or foundations, other local agency funds, and publicly owned land. If appropriate, describe publically owned land or property located within the state that may be used to address the needs identified in the plan The City has plans to identify strategies to leverage publicly owned land and properties to address the housing needs in its 2023-2031 Housing Element. The City is currently assessing its inventory of properties that could support affordable housing development and evaluating how the properties would comply with California’s Surplus Lands Act (AB 1486, AB 1255, and SB 6). Page 201 of 694