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File #: LB 18-050   
Section: Legislative Business Status: Agenda Ready
Meeting Body: City Council
Agenda Date: 10/2/2018 Final action:
Subject: Appropriation and Allocation of $28.6 Million of the City of Hayward's Affordable Housing Funds and Measure A1 Base Allocation to Support the Development of 259 Units of Affordable Housing.
Attachments: 1. Attachment I Staff Report, 2. Attachment II Resolution Appropriate Housing Trust Fund, 3. Attachment III Resolution Appropriating HOME funds, 4. Attachment IV Resolution Matsya Villas (EAH), 5. Attachment V Resolution Mission Senior Paradise (EAH), 6. Attachment VI Resolution Depot Road (Allied), 7. Attachment VII Housing Authority Resolution HA Funds, 8. Attachment VIII Housing Authority Resolution (Allied), 9. Attachment IX 2018 NOFA Scoring Summary, 10. Attachment X NOFA Project Summaries for Report, 11. Attachment XI Application Summary
Related files: LB 18-012, WS 17-055, WS 17-005
DATE: October 2, 2018

TO: Mayor and City Council

FROM: City Manager

SUBJECT

Title
Appropriation and Allocation of $28.6 Million of the City of Hayward's Affordable Housing Funds and Measure A1 Base Allocation to Support the Development of 259 Units of Affordable Housing.
End
RECOMMENDATION
Recommendation

That the City Council:

1. Adopts a Resolution Authorizing the Finance Department to Amend the FY19 Housing Division Budget by Appropriating Four Million Nine Hundred Thousand Dollars ($4,900,000) from Fund Balance in the Inclusionary Housing Trust Fund to Fund Affordable Housing Development Loans. (Attachment II); and

2. Adopts a Resolution Authorizing the Finance Department to Amend the FY19 Housing Division Budget by Appropriating One Hundred Fifty-Five Thousand One Hundred Twenty-Four Dollars ($155,124) to the HOME Fund consistent with the 2018 Subrecipient Agreement with the County of Alameda. (Attachment III); and

3. Adopts a Resolution Authorizing the City Manager to Negotiate and Execute Loan Documents between the City of Hayward and EAH, Inc., in an Amount not to Exceed Two Million Dollars ($2,000,000), for Matsya Family Villas located at 22648 2nd Street to Build Approximately Fifty-Seven Units of Affordable Housing (Attachment IV).

4. Adopts a Resolution Authorizing the City Manager to Negotiate and Execute Loan Documents Between the City of Hayward and EAH, Inc., in an Amount not to Exceed Two Million Five Hundred Thousand Dollars ($2,500,000), for Mission Senior Paradise located at 28000 Mission Boulevard Street to Build Approximately Seventy-Six Units of Affordable Housing (Attachment V)

5. Adopts a Resolution Authorizing the City Manager to: 1) Negotiate and Execute Loan Documents Between the City Of Hayward and Allied Housing, Inc., in an Amount Not to Exceed One Million Six Hundred Ten Thousand Dollars ($1,610,000); and 2) Commit up to Eighteen Million Three Hundred Thousand Dollars...

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