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Milpitas council moves to sunset home‑rehab loan program, directs staff to reallocate CDBG revolving funds
Summary
The Milpitas City Council on Feb. 4 voted unanimously to authorize the city manager to sunset the Home Rehabilitation revolving‑loan program and return with a plan to reallocate program income after staff said the city had received more than $675,000 in repayments that must be spent quickly to meet HUD timeliness requirements.
The Milpitas City Council on Feb. 4 directed the city manager to sunset the city’s Home Rehabilitation revolving‑loan program and return with a plan to reallocate program income from that fund to activities staff says can spend the money before the Department of Housing and Urban Development’s timeliness test.
Housing official Robert Musalom told council that the city had received more than $675,000 in repayments to the Home Rehabilitation revolving fund and that HUD requires jurisdictions to spend program income in a timely manner. “City has received repayments, for, to the revolving loan fund totaling over $675,000, which needs to be spent as soon as possible to meet timeliness in April of 20 25,” Musalom said during the presentation.
Staff presented three options: keep the Home Rehab loan program open and wait for borrower demand; the recommended option to reallocate $148,000 to Rebuilding Together Silicon Valley…
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