REPORT TO THE CITY COUNCIL
FROM: JENNIFER CLARK, Director
Planning and Development Department
BY: PHIL SKEI, Assistant Director
Planning and Development Department
CORRINA NUNEZ, Project Manager
Community Development Division
SUBJECT
Title
Approve First Amendment to the $1.8 million HOME Investment Partnerships Program Agreement with Blythe Village LP to increase the HOME funding contribution by an additional $800,000, per funding Resolution No. 2024-085, for a total of $2.6 million in HOME Investment Partnership Program funding to the project. (District 1)
Body
RECOMMENDATION
Staff recommends the City Council Approve First Amendment (Exhibit A - First Amendment to HOME Agreement - Blythe Village) to the $1.8 million HOME Investment Partnerships (HOME) Program Agreement (Exhibit B - HOME Agreement - Blythe Village) with Blythe Village LP to increase the HOME funding by an additional $800,000, per Resolution No. 2024-085 approved by Council on May 2, 2024, item 2-G, ID 24-319 (Exhibit C - Resolution for Financial Commitment - Blythe Village).
EXECUTIVE SUMMARY
The First Amendment to the HOME Program Agreement will provide for an additional $800,000 to the project as outlined in Resolution 2024-085. Total project cost is $14,532,689. In return for the City's investment of HOME Program funds, the City will receive 11 HOME-assisted units as provided for in the HOME Agreement recorded on June 13, 2024, as instrument number 2024-0052232 and HOME Declaration of Restrictions recorded on the property on June 13, 2024, as instrument number 2024-0052234.
BACKGROUND
On May 2, 2024, the City Council approved several items related to the Blythe Village Project: 1) adopted the California Environmental Quality Act (CEQA) exemption, 2) approved a $400,000 Community Development Block Grant (CDBG) Program Agreement, 3) approved a $1.8 million HOME Program Agreement, and 4) adopted an $800,000 funding Resolution No. 2024-085.
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