DATE: October 18, 2022
TO: Mayor and City Council
FROM: Assistant City Manager
SUBJECT
Title
Allocation of Local Housing Trust Funds: (1) Adopt a Resolution Approving Allocation of the California State Department of Housing and Community Development Local Housing Trust Fund Grant Award to Mission Paradise in the Amount of $1,150,000; and Authorizing the City Manager to Negotiate and Execute Loan Documents Between the City of Hayward and EAH, Inc. in an Amount Not-to-Exceed $1,150,000 for the Development of Mission Paradise; and (2) Adopt a Resolution Approving Allocation of the California State Department of Housing and Community Development Local Housing Trust Fund Grant Award to Parcel Group 8 Affordable Housing in the Amount of $2,645,161; and Authorizing the City Manager to Negotiate and Execute Loan Documents Between the City of Hayward and Resources for Community Development in an Amount Not-to-Exceed $2,645,161 for the Development of Parcel Group 8 Affordable Housing
RECOMMENDATION
Recommendation
That the Council holds a public hearing and:
1. Adopts a resolution (Attachment II) to approve the allocation of California State Department of Housing and Community Development (HCD) Local Housing Trust Fund (LHTF) Program grant award to Mission Paradise in the amount of $1,150,000; and to authorize the City Manager to negotiate and execute loan documents between the City of Hayward and EAH in an amount not-to-exceed $1,150,000 for the development of Mission Paradise; and
2. Adopts a resolution (Attachment III) to approve the allocation of HCD LHTF Program grant award to Parcel Group 8 Affordable Housing in the amount of $2,645,161; and to authorize the City Manager to negotiate and execute loan documents between the City of Hayward and Resources for Community Development (RCD) in an amount not-to-exceed $2,645,161 for the development of Parcel Group 8 Affordable Housing.
End
SUMMARY
Like many cities in the...
Click here for full text