Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Raymond Hodges, Director, Department of Housing
Subject: Amended and Restated Management Agreement with MidPen for Shores Landing
RECOMMENDATION:
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Adopt a resolution authorizing the Director of the Department of Housing, or designee, to execute an Amended and Restated Management Agreement with MidPen Property Management Corporation for operation and management at Shores Landing, located at 1000 Twin Dolphin Drive, in Redwood City (Assessor Parcel Number 095-222-230), increasing the amount of the agreement by $913,312 for a new total amount not to exceed $2,431,312 with a term of November 16, 2021 through November 16, 2022.
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BACKGROUND:
The Homekey Program ("Homekey"), administered by the State of California Housing and Community Development Department ("State HCD"), provided funding to rapidly sustain and expand the inventory of housing for people experiencing homelessness or at risk of homelessness and impacted by COVID-19. Homekey presented an opportunity for local public agencies to purchase hotels, motels and a broad range of other housing types in order to increase community capacity to respond to homelessness and the COVID-19 pandemic.
With authorization from your Board, the Department of Housing ("DOH"), on behalf of the County, applied for and received a funding award from Homekey, Round 1, to help finance the acquisition of the property previously known as TownePlace Suites and now known as Shores Landing, located at 1000 Twin Dolphin Drive, in Redwood City (Assessor Parcel Number 095-222-230) (the "Property" or "Shores Landing"). With authorization from your Board on December 3, 2020, DOH acquired the Property using Homekey funds and local Coronavirus Aid, Relief, and Economic Security (CARES) Act funds. This Property is a 95-unit permanent affordable housing site for extremely low-income seniors (62+ years of age) ea...
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