DATE: November 13, 2018
TO: Mayor and City Council
Hayward Housing Authority Board
FROM: Deputy City Manager
SUBJECT
Title
Amendment of the Disposition, Development, and Loan Agreement with Habitat for Humanity East Bay to Extend the Development Schedule
End
RECOMMENDATION
Recommendation
That the Housing Authority Board adopts a resolution to amend the Disposition, Development, and Loan Agreement with Habitat for Humanity East Bay/Silicon Valley, Inc for the disposition of certain real property located at 123-197 A Street to extend the development schedule.
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SUMMARY
The Housing Authority entered into a Disposition, Development, and Loan Agreement (DDLA) with Habitat in 2014 for the development of 123-197 A street, also known as Sequoia Grove. However, delays caused by the dissolution of the Redevelopment Agency and site contamination have created a funding gap that has prevented the development of the project. Completion of the project was anticipated in January 2018, which means Habitat no longer has site control. Habitat intends to apply for Measure A1 bond funds to fund the project. To be eligible to apply, Habitat will have to demonstrate site control. Habitat has requested a four-year extension of the DDLA to document site control to apply for Measure A1 bond funds and to have sufficient time to complete the project.
ATTACHMENTS
Attachment I Staff Report
Attachment II Housing Authority Resolution