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 housing projects in the City that are close to construction and increase the City’s progress towards meeting its Regional Housing Needs Allocation (RHNA) compliance goals. City staff has determined that EAH’s Mission Paradise and RCD’s Parcel Group 8 Affordable Housing projects meet the eligibility requirements for the LHTF Program.
Staff is requesting Council authority to apply for the maximum grant amount of $5 million, although anticipates that the application may be submitted for a lower amount to increase feasibility and competitiveness.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution