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Housing Choice Voucher Administrative Plan <br />August 6, 2024 <br />Page 3 <br />program. A timeline of 3 to 5 years is not enough time for a former foster youth to obtain <br />self-sufficiency from the Housing Authority's rental assistance. This preference will <br />support the 15 FYI voucher holders who leased up prior to Decemebr 27, 2020 by <br />transferring their voucher to our regular HCV Program. It will also support all of our <br />other FYI voucher holders who reach the 5 year deadline for their assistance in the <br />future. The update to Chapter 4 is attached in track changes as Exhibit 1. <br />If the City Council does not approve this update to our HCV Administrative Plan, the <br />Housing Authority will need to terminate our assistance for the 15 FYI voucher holders <br />who leased up before December 27, 2020. The 15 FYI voucher holders wil be given 60 <br />days notice and informed of the statutory requirement that limits their assistance to no <br />more than three years. At different points in time in the future, the Housing Authority will <br />also need to terminate the assistance for other FYI voucher holders who reach their <br />five-year deadline for assistance from the FYI program. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />EXHIBIT(S) <br />1. Update to HCV Administrative Plan Chapter 4 <br />Submitted By: Michael L. Garcia, Executive Director of Community Development <br />Approved By: Alvaro Nunez, Acting City Manager <br />