Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Raymond Hodges, Director, Department of Housing
Subject: Measure K: Agreements with Alta Housing Corporation related to the Operation and Management of Affordable Housing Project, located in Redwood City, for the County's most vulnerable residents, individuals and families who are homeless or who are at risk of homelessness, as defined in Part 578.3 of Title 24 of the Code of Federal Regulations including chronically homeless and homeless individuals and households/families.
RECOMMENDATION:
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Measure K: Adopt a resolution:
A) Authorizing and directing the Director of the Department of Housing, or designee, to execute an Exclusive Negotiating Agreement with Alta Housing Corporation ("Alta") to afford the parties sufficient time to negotiate the terms of a Ground Lease Agreement and all documents evidencing and securing a predevelopment loan related to the operation and management of a permanent affordable housing development for homeless individuals and households/families or those who are at risk of homelessness ("project") on County property located at 1818 EL Camino Real in Redwood City; and
B) Authorizing and directing the Director of the Department of Housing, or designee, in consultation with County Attorney, to negotiate and execute a Ground Lease Agreement and all documents evidencing and securing a predevelopment loan, in a total amount not to exceed $1,500,000 in Measure K funds, with Alta housing corporation, to cover costs associated with the operation and management of the subject property; and
C) Authorizing the Director of the Department of Housing, or designee, to execute contract amendments, which modify the County's maximum fiscal obligation by no more than $25,000 (in aggregate).
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BACKGROUND:
The Homekey Program ("Homekey") administered by the California Housing and Community Development Department ("State HCD...
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