Special Notice / Hearing: None
Vote Required: Majority
To: Honorable Board of Supervisors
From: Raymond Hodges, Director of Department of Housing
Subject: Updated Funding Commitments for 721 Airport, South San Francisco Project
RECOMMENDATION:
title
Adopt a resolution:
A) Approving, adopting and authorizing the President of the Board of Supervisors to execute an updated form Resolution attached as Attachment A as required by the California Department of Housing and Community Development ("HCD") for the County's application to the Homekey Program for State funding in an amount not to exceed $27,585,600 for capital and operating expenses for the conversion of a hotel at 721 Airport Boulevard, South San Francisco (the "Property") to permanent supportive housing for people experiencing or at risk of homelessness (the "Project"); and
B) Authorizing and committing an allocation of $6,750,000 in American Rescue Plan Act ("ARPA") funds for estimated capital development matching funds for the Project, as required by Homekey and authorized in Resolution Number 079743; and
C) Declaring an intention to commit an allocation not to exceed $19,100,000 in Measure K funds under the County Housing Voucher Program to provide operating support for the Project, including $8,100,000 in years 2 to 7 (as authorized in Resolution Number 079743) and $11,000,000 in years 7 to 13 of the Project; and
D) Declaring support for a funding plan for the provision of operating subsidies for the Project using such County, state or federal funds as may be available in the amount of $4,493,678 for years 13-15 of the Project; and
E) Authorizing and directing the Director of the Department of Housing, or designee(s), to take such further actions with the approval of the County Executive that may be necessary to execute the Standard Agreement that includes the complete Homekey application and all required attachments, including but not limited to the Verification of Accepta...
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