Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Raymond Hodges, Director, Department of Housing
Subject: Allocation of Measure K funds and County Impact Fees from the Affordable Housing Fund 14.0 to affordable housing projects
RECOMMENDATION:
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Measure K: Adopt a resolution:
A) Approving commitments of Affordable Housing Fund (AHF) 14.0 funds for the construction of the affordable housing projects listed in Attachment A in the total amount of up to $24,347,311, consisting of $24,247,311 in Measure K funds previously approved for affordable housing purposes and $100,000 in County Impact Fees (for unincorporated San Mateo County only), including all conditions attached to such funding recommendations; and
B) Authorizing the Director of the Department of Housing, or designee, in consultation with the County Attorney, to negotiate and execute all contracts, instruments and other documents and amendments thereto necessary to provide funding to the affordable housing projects listed in Attachment A.
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BACKGROUND:
On April 8, 2013, this Board approved the allocation of approximately $13,400,000 of unrestricted general funds for affordable housing purposes, thereby establishing the Affordable Housing Fund (AHF). These initial AHF funds were derived from a one-time distribution of Housing Trust Funds held by former redevelopment agencies in San Mateo County.
Since then, after thirteen subsequent annual AHF competitive funding rounds, this Board has awarded more than $400 Million for affordable housing from various sources. Specifically, the AHF has been funded by County general funds, Measure K funds, Redevelopment Agency (RDA) Housing Trust Funds, HOME Investment Partnership Funds, Community Development Block Grant (CDBG) funds, and funds allocated to the County from the State of California's Housing and Community Development department (HCD), including the Permanent Local Housing Al...
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