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Mr. Sicha indicated that the draft 5-year plan has been on public comment since March 12. The document spends a great deal of time indicating the needs of low to moderate-income families, and those of vulnerable populations (homeless individuals, developmentally disabled individuals, individuals suffering from substance abuse, etc.) Much of the data in this plan comes from 2011- 2015. The reason for the lag is due to a significant amount of data that needs to be exchanged between HUD and the Census Bureau regarding 1200 different jurisdictions throughout the United States. Mr. Sicha noted that the goals of Lakewood's plan centered around improving and expanding affordable housing, revitalizing residential neighborhoods, increasing economic opportunities, providing needed public services to the elderly and the disabled, and reducing homelessness/at- risk homelessness. Chairman Bullock inquired as to whether the goals of the plan are continuous from what was done in the past and if the goals leave any large policy items out. Mr. Wyman indicated that many of the goals have been continuous since at least the year 2000 because they have been consistent needs of the city over time. These needs are consistent among inner ring suburbs throughout the county. Mr. Wyman also added that if anything was left out, it was due to the policy item not fitting into HUD statutory regulations. Councilmember Rader asked how the city's 8 step affordable housing strategy guides how the federal dollars would be implemented. Ms. Leigh indicated that the majority of programming in the city's strategy directly correlates to the use of federal funding laid out in the city's HUD plan. Mr. Wyman outlined some of the overarching funding appropriations included in the FY2020 Lakewood plan, which he attempted to email to Councilmembers during the virtual meeting. Chairman Bullock asked if the city anticipates any regional or economic trends that influence the 5-year HUD plan. Mr. Sicha and Ms. Moll indicated that the data is just starting to pick up on the housing market recovery that has been occurring in Lakewood in recent years. Low to moderate- income families will continue to exist and present needs, despite the rise in single-family home sale prices. The group collectively expressed the need for extrapolation of data due to its age and the current circumstances of the COVID-19 crisis. Chairman Bullock expressed a desire to pursue a definition of low-moderate income family that is more tailored to the Lakewood housing market. The Planning Department reached out to the regional HUD office regarding the definition of an affordable rent. Research indicated that Lakewood's rents fell in the middle of the definition of a fair market rent. Mr. Wyman's email regarding the FY 2020 Lakewood HUD plan eventually was delivered to Chairman Bullock who forwarded it the members of the committee. Discussion of the document will occur next Finance Committee meeting. Chairman Bullock adjourned the meeting at 8:13 p.m.