DATE: July 20, 2021
TO: Mayor and City Council
FROM: Assistant City Manager
SUBJECT
Adopt a Resolution Authorizing the City Manager to: (1) Submit an Application to the California State Department of Housing and Community Development for an Amount Not-to-Exceed $5 Million; (2) Execute a Standard Agreement and Any Subsequent Amendments, Modifications, or Documents Thereto; (3) Accept and Appropriate Awarded Funds in the Amount Not-to-Exceed $5 Million; and (4) Allocate Funds, if Awarded, to EAH's Mission Paradise and Resource for Community Development's Parcel Group 8 Affordable Housing Projects
RECOMMENDATION
That the Council adopts a resolution (Attachment II) authorizing the City Manager to:
1. Submit an application to the State of California Department of Housing and Community Development (HCD) for an amount not-to-exceed $5 million to support Mission Paradise and Parcel Group 8 Affordable Housing projects under the Local Housing Trust Fund (LHTF) Program; and if the grant funds are awarded;
2. Execute a Standard Agreement and any subsequent amendments, modifications, or documents necessary to participate in the HCD LHTF Program;
3. Accept and appropriate any awarded funds in an amount not-to-exceed $5 million; and
4. Allocate funds, if awarded, to EAH's Mission Paradise and Resource for Community Development's (RCD) Parcel Group 8 Affordable Housing projects.
SUMMARY
Like many cities in the Bay Area, a rise in Hayward's population absent a corresponding rise in housing units has contributed to soaring home prices and a lack of affordable housing for our most vulnerable populations. On May 3, 2021, HCD released the LHTF Program Notice of Funding Availability (NOFA), which made available approximately $57 million in funding for qualifying affordable housing projects in jurisdictions with a new or existing Local Housing Trust Fund. A successful application would provide needed funding to help meet financing gaps for affordable housi...
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