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Adopt a Resolution for the 2024 Homeownership CalHome Program Award <br />December 2, 2025 <br />Page 3 <br />5 <br />4 <br />4 <br />2 <br />building opportunities for City residents and provide more affordable homeownership <br />opportunities. <br />This is a pass-through of state funding to approximately 37 new homeowners in the city. <br />100 percent of funds shall be expended within 36 months of the date the Standard <br />Agreement is executed by HCD. The funds will be paid on a reimbursement basis. This <br />one-time grant award includes 10% for administration, equal to $444,000. Section 402.2 <br />of the NOFA guidelines states “Administration costs shall not exceed 10% of the total of <br />CalHome Mortgage Assistance disbursements.” Since $9,250 will be paid towards <br />homebuyer education, staff have to exclude that amount from the 10% calculation <br />below. <br /> <br />FISCAL IMPACT <br />Approval of the appropriation adjustment will recognize $4,893,250 in funds from the <br />State of California, in CalHome Program – State Grant-Direct revenue account (no. <br />14318002-52025) and appropriate the same amount across expenditure accounts as <br />outlined below. <br />Any remaining balances not expended by the end of the fiscal year will be presented to <br />City Council for approval of carryovers to FY 2026-27. <br />Fiscal <br />Year <br />Accounting <br />Unit - <br />Account <br />Fund <br />Description <br />Accounting Unit, <br />Account Description <br />Amount <br />FY 25-26 14318763- <br />61XXX <br />CalHome Owner <br />Occupied <br />CalHome, Salaries and <br />Benefits $366,920 <br />FY 25-26 14318763 – <br />62120 <br />CalHome Owner <br />Occupied <br />CalHome, Training, <br />Transportation, Meeting $5,000 <br />FY 25-26 14318763 – <br />62300 <br />CalHome Owner <br />Occupied <br />CalHome, Contract <br />Services-Professional $9,250 <br />FY 25-26 14318763 – <br />63001 <br />CalHome Owner <br />Occupied <br />CalHome, Miscellaneous <br />Operating Expenses $2,500 <br />FY 25-26 14318763 – <br />65100 <br />CalHome Owner <br />Occupied <br />CalHome, Insurance <br />Charges $16,850 <br />FY 25-26 14318763 – <br />66511 <br />CalHome Owner <br />Occupied <br />CalHome, Computer <br />Software Subscription $52,730 <br />FY 25-26 14318763 – <br />69152 <br />CalHome Owner <br />Occupied <br />CalHome, Loans & <br />Grants $4,440,000 <br />Total:$4,893,250 <br />EXHIBIT(S) <br />1. Grant Award Letter <br />2. Resolution