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071911 Lakeport City Council - Council Business

071911 Lakeport City Council - Council Business

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Published by: LakeCoNews on Jul 16, 2011
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Meeting Date: 07/19/2011 Page 1 Agenda Item #VII.A.1.
 
CITY OF LAKEPORT
City CouncilLakeport Redevelopment AgencyCity of Lakeport Municipal Sewer District
STAFF REPORT
RE:
 Approve Resolution Authorizing Submittal of a HOMEGrant Application
MEETING DATE:
07/19/2011
SUBMITTED BY:
Richard Knoll, Redevelopment, Housing & Economic Development Director
PURPOSE OF REPORT
: Information only Discussion Action Item
 WHAT IS BEING ASKED OF THE CITY COUNCIL/AGENCY/BOARD:
  The City Council is being asked to approval a City of Lakeport Resolution authorizing submittal of aHOME Grant application in the amount of up to $5.1 million for the proposed 48-unit Martin Street Senior Affordable Apartment Project at 1075 Martin Street.
BACKGROUND:
In April of 2010, the City was approached by AMG and Associates and Pacific West Communities, Inc.regarding a proposed 48-unit Senior Affordable Apartment Project at 1075 Martin Street.On May 4, 2010, the Redevelopment Agency voted to authorize staff to work with AMG in thedevelopment of the project pro-forma financial analysis, in developing the level of anticipatedRedevelopment Agency financial participation and in the preparation of an Owner Participation Agreement(OPA). The proposed senior affordable project was approved by the Lakeport Planning Commission on August 16,2010. The proposed project involves construction of 48 residential units intended to be occupied by income-qualified senior citizens. The project will include eight two-story structures, including sevenapartment buildings and one community center building with two second floor apartments. All buildings will be under one roof structure. Related site improvements including on-site parking, landscaping, and astorm water retention area are also proposed. The proponents have proposed Redevelopment Agency financial participation in this project and havesubmitted a project pro-forma. The pro-forma financial analysis indicates that the project costs are estimated at $11,262,951. The developeris seeking $1.1 million from the Lakeport Redevelopment Agency and support for submittal of a HOMEGrant application to the California Department of Housing and Community Development in the amount of $3 million.
DISCUSSION:
 The attached Resolution authorizes submittal of the HOME Grant application to HCD in the amount of upto $5.1 million. These funds would be passed onto the developer and used in the construction of theproject. The developer will write the grant application on behalf of the City of Lakeport at no cost to the City. TheCity, if awarded the grant will dedicate the HOME funds to the project. Action on the Redevelopment Agency funding request is not being proposed at this time.
 
Meeting Date: 07/19/2011 Page 2 Agenda Item #VII.A.1.
 
OPTIONS:
 Approve resolution or choose not to approve.
FISCAL IMPACT:None
 
$
 
 Account Number:
 
Comments:
 
SUGGESTED MOTIONS:
Move to approve a Resolution of the City Council of the City of Lakeport authorizing the submittal of anapplication to the California State Department of Housing and Community Development for funding underthe HOME Investment Partnerships Program.
 Attachments:
Draft Resolution
 
 
RESOLUTION NO. ________ (2011)
 A RESOLUTION OF THE CITY COUNCIL OF THECITY OF LAKEPORT AUTHORIZING SUBMITTAL OF AN APPLICATION TO THE CALIFORNIA STATE DEPARTMENT OF HOUSING ANDCOMMUNITY DEVELOPMENT FOR FUNDING UNDER THE HOMEINVESTMENT PARTNERSHIPS PROGRAM; AND, IF SELECTED, THE EXECUTION OF A STANDARD AGREEMENT, ANY AMENDMENTS THERETO, AND OF ANY RELATED DOCUMENTS NECESSARY TOPARTICIPATE IN THE HOME INVESTMENT PARTNERSHIPS PROGRAM WHEREAS,
the California Department of Housing and Community Development (the
“Department”) is authorized to allocate HOME Investment Partnerships Program (“HOME”)funds made available from the U.S. Department of Housing and Urban Development (“HUD”).
HOME funds are to be used for the purposes set forth in Title II of the
Cranston-Gonzalez National  Affordable Housing Act of 1990
, in federal implementing regulations set forth in Title 24 of the
Code of Federal Regulations 
, part 92, and in Title 25 of the
California Code of Regulations 
commencing withsection 8200; and
 WHEREAS,
on June 1, 2011, the Department issued a 2011 Notice of Funding Availability 
announcing the availability of funds under the HOME program (the “NOFA”)
; and
 WHEREAS,
in response to the 2011 NOFA, the City of Lakeport, a municipal corporation
 
(the “Applicant”), wishes to apply to the Department for, and receive
an allocation of, HOMEfunds.
 IT IS NOW THEREFORE RESOLVED THAT:
1. In response to the 2011 NOFA, the Applicant shall submit an application to theDepartment to participate in the HOME program and for an allocation of funds not to exceed FiveMillion One Hundred Thousand Dollars ($5,100,000) for the following activities and/or programs:
 A 48 unit senior apartment community 
to be located in the City of Lakeport
.
2. If the application for funding is approved, then the Applicant hereby agrees to use theHOME funds for eligible activities in the manner presented in its application as approved by theDepartment in accordance with the statutes and regulations cited above. The Applicant may alsoexecute a standard agreement, any amendments thereto, and any and all other documents orinstruments necessary or required by the Department or HUD for participation in the HOMEprogram (collectively, the required documents).3. The applicant authorizes Margaret Silveira, the City Manager, or her designee(s) toexecute, in the name of the applicant, the required documents.

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