DATE: December 6, 2022
TO: Mayor and City Council
FROM: City Attorney
SUBJECT
Title
Adopt a Resolution Rescinding a Portion of the Previously Adopted Resolution 20-065, Regarding Approval of a Financing Model that Supports the Development of Middle-Income Affordable Housing and Authorization of the City Manager to Execute Purchase Option Agreements with the California Community Housing Agency
End
RECOMMENDATION
Recommendation
That Council adopts a resolution (Attachment II) rescinding a portion of Resolution 20-065 adopted May 26, 2020 regarding approval of a financing model that supports development of middle-income affordable housing and authorization of the City Manager to execute purchase option agreements with the California Community Housing Agency (CalCHA).
End
SUMMARY
On May 26, 2020, City of Hayward adopted Resolution 20-065 that approved a financing model to fund the acquisition and/or development of affordable housing for middle income households. Staff is now recommending an amendment to the previously adopted resolution by rescinding some of the language in the final paragraph.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution