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Milpitas council reallocates roughly $675,000 in CDBG revolving loan funds to home repairs and small-business grants
Summary
To satisfy HUD timeliness rules, the Milpitas City Council on May 6 approved a substantial amendment reallocating roughly $675,000 in CDBG revolving loan funds for immediate use on home repairs and small-business grants.
The Milpitas City Council on May 6 approved a substantial amendment to its Community Development Block Grant (CDBG) consolidated plan and 2024–25 annual action plan to reallocate the city’s revolving loan fund balance — approximately $675,000 — to activities that can be spent before HUD’s timeliness test on May 2, 2026.
Acting Housing Official Sarah Balcha explained that the city’s revolving loan fund grew because of recent loan repayments and that HUD limits jurisdictions’ “line of credit” to 1.5 times annual entitlement; Milpitas had exceeded timeliness thresholds. Under federal CDBG rules, program income and revolving loan funds…
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