Operating and CIP Budget Fiscal Year 2015-16

Housing Programs (continued)

tices in a post-Redevelopment environment

 CITY OF MORGAN HILL  FY15-16  OPERATING AND CIP BUDGET  CITY OF MORGAN HILL  FY 15-16  OPERATING AND CIP BUDGET  CITY OF MORGAN HILL  FY 15-16  OPERATING AND CIP BUDGET  CITY OF MORGAN HILL  FY 15-16  OPERATING AND CIP

o Continue participation on County CDBG Technical Advisory Committee

o Continue participation with the County Office of Supporting Housing

 Improve Organizational Effectiveness and Transparency

o Continue working with BMR non-profit Administrator NHSSV to improve BMR processes and increase com- munity outreach and communication

o Maintain Website and look for new, creative options to communicate information to the public about housing opportunities

FY 15-16 Activity Goals

 Negotiate with developers potential use of City housing funds to create new affordable housing development

 Implement full policies and procedures with BMR Administrator

Refine BMR website

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 Continue outreach to BMR residents and potential applicants

 Continue interdepartmental support including Planning & Finance assistance.

Continue BMR compliance monitoring

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 Complete financial review of all residual receipt generating developments

 Continue aggressively defending BMR covenants

 Continue sourcing other financial leveraging opportunities

 Proactively prevent foreclosures to protect BMR covenants and City financial investment

 Attend at least one training or networking event each month

FINANCIAL COMMENTS

The revenue needed to fund the City’s housing programs is now directly aligned with the health of two funds: The Housing In-lieu Fee Fund (Fund 236) which is infused with payments from residential developers who opt to pay the BMR In-lieu fee instead of building BMR units and the (former Successor Agency) Housing Fund (Fund 255), which

CITY OF MORGAN HILL  FY 15-16  OPERATING AND CIP BUDGET  CITY OF MORGAN HILL  FY 15-16  OPERATING AND CIP BUDGET  CITY OF MORGAN HILL  FY 15-16  OPERATING AND CIP BUDGET

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