Expected Resources

DRAFT | Third Year Annual Action Plan |2022-2023 | DRAFT

Table of Contents | Executive Summary | The Process | Expected Resources | Annual Goals and Objectives | Affordable Housing | Program Specific Requirements

AP-15 Expected Resources – 91.220(c)

Introduction

Currently, the City of Tulsa receives CDBG, HOME, HOPWA, and ESG funding. These funding sources are expected to be available over the next 5 years. In FY 2021, the City has been allocated $3,605,836 in CDBG funds, $1,787,319 in HOME funds, $666,550 in HOPWA funds, and $302,126 in ESG funds. It is anticipated that funding levels will be similar over the 5 years of this Consolidated Plan. These anticipated amounts are noted in the chart below. As all funding sources are subject to annual Congressional appropriations, as well as potential changes in funding distribution formulas, these figures are subject to change.

Anticipated Resources

Table 55 - Expected Resources – Priority Table

Explain how federal funds will leverage those additional resources (private, state and local funds), including a description of how matching requirements will be satisfied

The federal, state, and local resources available to address the needs identified in the plan include federal formula grant funds under CDBG, ESG, HOME, and HOPWA. The local Continuum of Care (CoC) also awards grant funds under the competitive McKinney-Vento Homeless Assistance Act. These funds will be leveraged with the City's general funds, various state and county resources, local nonprofit resources, and private foundation grants.

Essential Services projects will concentrate efforts to address the needs of families, children and youth in high risk populations consistent with the identified priority needs. Use of CDBG and ESG funds will leverage other nonprofit resources and private foundation funds to assist low-income households.

Physical improvements will use a combination of public funds, CDBG funds, City general funds, and nonprofit and private foundation funds to enhance selected projects.

HOME Match: The sources of matching contributions for HOME funds will be from developers and subrecipients' nonfederal contributions, the City and its CHDOs. The City requires developers, subrecipients and CHDOs to match up to 25% of award. First re-use CHDO proceeds, as regulated by HOME, are used as leverage to fund HOME activities. Banked match is available if organizations are not able to generate the required match. The City had $9.7 million in available banked match as of July 1, 2021.

Emergency Solutions Grant Match: The jurisdiction will fulfill the ESG requirement of a matching contribution equal to the grant program funds. Each organization is required to provide matching funds equal to the amount of funds awarded. This stipulation is included in the written agreement. The City of Tulsa will provide in-kind administrative funds, as necessary, to match administrative funds received. Documentation of match is required when subrecipients submit the monthly request for funds.

If appropriate, describe publicly owned land or property located within the jurisdiction that may be used to address the needs identified in the plan

N/A

Discussion

The Expected Amount Available for the Remainder of Consolidated Plan is an estimate of the funds expected to be received over the remaining 3 years of the Consolidated Plan. Estimates were calculated using the confirmed funding to be received during the second year of the Consolidated Plan plus expected program income.

The CDBG program income total includes an estimated $1,500,000 per year in revolving loans funds received through economic development activities plus an additional 227,900 in general program income. It is estimated that a similar amount of Revolving Loan funds will be received over the remaining 2 years of this the Consolidated Plan.

HOME CHDO Reserve funds in the amount of $320,629 were allocated in Year 3.