HomeMy WebLinkAboutReso 2016-060 - Affordable HousingRESOLUTION NO. 2016-060
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF REDDING AUTHORIZING APPLICATION
FOR THE AFFORDABLE HOUSING AND SUSTAINABLE
COMMUNITIES PROGRAM
WHEREAS, the State of California, the Strategic Growth Council (SGC) and the
Department of Housing and Community Development (Department) has issued a Notice of
Funding Availability dated January 29, 2016 (NOFA), under the Affordable Housing and
Sustainable Communities (AHSC) Program established under Division 44, Part 1 of the Public
Resources Code commencing with Section 75200; and
WHEREAS, the City of Redding (Applicant) desires to be a co -applicant with K2 Land
and Investment, LLC to apply for AHSC Program funds and submit the Application Package
released by the Department for the AHSC Program; and
WHEREAS, the SGC is authorized to approve funding allocations for the AHSC
Program, subject to the terms and conditions of the NOFA, Program Guidelines, Application
Package, and Standard Agreement. The Department is authorized to administer the approved
funding allocations of the AHSC Program;
NOW, THEREFORE, BE IT RESOLVED THAT:
1. Applicant is hereby authorized and directed to apply for and submit to the
Department the AHSC Program Application as detailed in the NOFA dated January 29, 2016, for
the 2015-16 Fiscal Year in a total amount not to exceed $20,000,000.00 of which $5,873,372.00
is requested as a loan for an Affordable Housing Development (AHD) ("AHSC Loan") and
$14,126,628.00 is requested for a grant for Housing -Related Infrastructure (HRI), Sustainable
Transportation Infrastructure (STI), Transit -Related Amenities(TRA) or Program (PGM)
activities ("AHSC Grant") as defined the AHSC Program Guidelines adopted by SGC on
December 17, 2015. If the application is approved, the Applicant is hereby authorized and
directed to enter into, execute, and deliver a State of California Standard Agreement (Standard
Agreement) in a total amount not to exceed $20,000,000.00 ($5,873,372.00 for the AHSC Loan
and $14,126,628.00 for the AHSC Grant), and any and all other documents required or deemed
necessary or appropriate to secure the AHSC Program funds from the Department, and all
amendments thereto (collectively, the "AHSC Documents").
2. Applicant shall be subject to the terms and conditions as specified in the Standard
Agreement. Funds are to be used for allowable capital asset project expenditures to be identified
in Exhibit A of the Standard Agreement. The application in full is incorporated as part of the s
Standard Agreement. Any and all activities funded, information provided, and timelines
represented in the application are enforceable through the Standard Agreement. Applicant hereby C
agrees to use the funds for eligible capital asset(s) in the manner presented in the application as
approved by the Department and in accordance with the NOFA and Program Guidelines and
Application Package. Q
3. The City Manager, or his designee, is authorized to execute in the name of C
Applicant the AHSC Program Application Package and the AHSC Program Documents as
required by the Department for participation in the AHSC Program.
I HEREBY CERTIFY that the foregoing resolution was introduced and read at a regular
meeting of the City Council of the City of Redding on the 7th day of June, 2016, and was
duly adopted at said meeting by the following vote:
AYES:
COUNCIL MEMBERS:
NOES:
COUNCIL MEMBERS:
ABSENT:
COUNCIL MEMBERS:
ABSTAIN:
COUNCIL MEMBERS:
ATTEST:
r
4PMiLAA4IZE, City Clerk
Cadd, Schreder, & McArthur
None
Sullivan
Weaver
MISSY Mc RTHUR, Mayor
APPRO D AS TO FORM:
BARRY E. DeWALT, City Attorney