Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Raymond Hodges, Director of the Department of Housing
Subject: Measure K: Capitalized Operating Subsidy Reserve funding for Casa Esperanza located in Redwood City
RECOMMENDATION:
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Measure K: Adopt a resolution:
A) Allocating $4,100,000 in Measure K reserve to fund a Capitalized Operating Subsidy Reserve to fund operating expenses and reserves of the Casa Esperanza permanent supportive housing project; and
B) Authorizing the Director of the Department of Housing, or designee, acting in consultation with the County Attorney, to negotiate and execute an agreement with Episcopal Community Services of San Francisco (ECS), or a special purpose entity managed by ECS, to provide a Capitalized Operating Subsidy Reserve, in an amount not to exceed $4,100,000, for the Casa Esperanza permanent supportive housing project.
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BACKGROUND:
The Homekey Program is a State program that provides local public agencies with funding to purchase a broad range of property types, such as hotels, motels, vacant apartment buildings, and other properties, and convert them into permanent or interim housing for those experiencing homelessness, or at risk of homelessness, and disproportionately impacted by COVID-19 (the "Target Population").
On October 5, 2021, by Resolution No. 078472, this Board authorized the County's application to the Homekey Program for funds to purchase and convert the Comfort Inn & Suites located at 1818 El Camino Real in Redwood City, CA, to permanent supportive housing for the Target Population, together with an allocation of up to $7,697,170 in American Rescue Plan Act (ARPA) funds as match of local funds as required by Homekey Program.
On February 9, 2022, the California Department of Housing and Community Development (CA HCD) notified the County that it was awarded $15,978,232 to finance the acquisition, rehabilitation, and operat...
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