Special Notice / Hearing: None
Vote Required: Majority
To: Honorable Board of Supervisors
From: Raymond Hodges, Director, Department of Housing
Subject: Allocation of Measure K, RDA Housing Trust Fund, and federal funds from the Affordable Housing Fund 11.0 to affordable housing projects
RECOMMENDATION:
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Measure K: Adopt a resolution:
A) Approving commitments of Affordable Housing Fund (AHF) 11.0 funds to the new construction affordable housing developments listed in Attachment A to the Resolution in the total amount of up to $30,532,290, consisting of $20,000,000 in Measure K Fiscal Year (FY) 2023-24 funds approved by the Board of Supervisors for affordable housing purposes; $200,000 in Measure K funds allocated in previous AHF rounds that were returned to Department of Housing; $2,200,000 in Redevelopment Agency (RDA) Housing Trust funds allocated in a previous AHF round and returned as project cost savings; $1,136,870 in federal Community Development Block Grant (CDBG) funds; $2,592,208 in federal HOME Investment Partnership Program (HOME) funds; and $4,403,212 in federal HOME-American Rescue Plan (HOME-ARP) funds, including all conditions attached to such funding recommendations; and
B) Authorizing the Director of the Department of Housing (DOH), or designee, in consultation with the County Attorney, to negotiate and execute contracts and other documents necessary to provide funding to the affordable housing projects listed in Attachment A to the resolution.
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BACKGROUND:
On April 8, 2013, the San Mateo County Board of Supervisors approved the allocation of approximately $13,400,000 of unrestricted general funds for affordable housing purposes. The funds which initiated the County's AHF were derived from a one-time distribution of Housing Trust Funds held by former redevelopment agencies in San Mateo County. Nine subsequent AHF competitive funding rounds have awarded a combination of County general funds, Measure K funds...
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