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Report regarding a Resolution approving budget amendment 21.005 appropriating $250,000 in the City of South San Francisco's Low and Moderate Income Housing Fund in Fiscal Year 2020-2021 for Emergency Rental Assistance for South San Francisco residents facing financial hardship due to the COVID-19 pandemic and $37,500 for associated administration. (Kris Romasanta, Community Development Coordinator)
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RECOMMENDATION
Recommendation
Staff recommend that the City Council adopt a Resolution approving budget amendment 21.005 appropriating $250,000 in the City of South San Francisco's Low and Moderate Income Housing Fund in Fiscal Year 2020-2021 (FY 20-21) for Emergency Rental Assistance for South San Francisco residents facing financial hardship due to the COVID-19 pandemic and $37,500 for associated administration. In the event that the FY 20-21 budget is not approved at the June 24, 2020, City Council meeting, the Resolution would appropriate and authorize the expenditure of the funds as part of an interim spending plan.
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BACKGROUND/DISCUSSION
On April 8, 2020, City Council adopted a Resolution appropriating $220,000 to the existing Emergency Rental Assistance Program through the City's Low and Moderate Income Housing Fund (also referred to as Fund 241) in Fiscal Year 2019-2020 (FY 19-20) for the purpose of providing financial assistance to South San Francisco residents facing financial hardship due to the COVID-19 pandemic and $22,000 for associated administration.
Since March 16, 2020, the Shelter in Place Order issued by San Mateo County has had a devastating economic impact to the local economy, disproportionately affecting low-income South San Francisco renters, who most likely work in service-oriented jobs. While essential businesses are allowed to remain open, all retail and industrial use services were temporarily closed. For some, this prolonged uncertainty has caused many businesses to lose revenue or permanently close, leading to m...
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