DATE: April 19, 2022
TO: Housing Authority Board/Mayor and City Council
FROM: Housing Authority Executive Director/City Manager
SUBJECT
Title
Adopt Resolutions Authorizing the City Manager/Housing Authority Executive Director to Execute a Second Amendment to the Disposition, Development, and Loan Agreement with Habitat for Humanity East Bay to Extend the Development Schedule for the Property Located at 123-197 A Street (A & Walnut/Sequoia Grove)
End
RECOMMENDATION
Recommendation
That the Council:
1. Adopts a resolution (Attachment II) authorizing the City Manager to negotiate and execute an Affordable Housing Cooperation Agreement between the City of Hayward and the Housing Authority permitting the Housing Authority to implement a loan in the amount of $200,000 from the Inclusionary Housing Trust Fund under the existing Disposition, Development, and Loan Agreement.
That the Housing Authority Board:
1. Adopts a resolution (Attachment III) authorizing the Executive Director to negotiate and execute an Affordable Housing Cooperation Agreement between the Housing Authority and the City of Hayward permitting the Housing Authority to implement a loan in the amount of $200,000 from the Inclusionary Housing Trust Fund under the existing Disposition, Development, and Loan Agreement; and
2. Adopts a resolution (Attachment IV) authorizing the execution of a second amendment to the Disposition, Development, and Loan Agreement for the A & Walnut/Sequoia Grove Habitat for Humanity Housing Development to extend the development schedule and increase the loan amount to $800,000.
End
SUMMARY
The Housing Authority entered into a Disposition, Development, and Loan Agreement (DDLA) with Habitat for Humanity (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 created a funding gap that prevented t...
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