REPORT TO THE CITY COUNCIL
June 9, 2016
FROM: Bruce Rudd, City Manager
BY: Danielle Bergstrom, Government Affairs Manager
Office of the Mayor and City Manager
SUBJECT:
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***RESOLUTION - Authorizing Application for the Affordable Housing and Sustainable Communities Program and Authorizing Execution of Program Documents - South Stadium TOD Project (District 3).
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RECOMMENDATION
Staff recommends that the City Council adopt a resolution authorizing the submission of an application for grant and loan funds from the California Department of Housing and Community Development and the California Strategic Growth Council Affordable Housing and Sustainable Communities (AHSC) Program and authorize the execution of documents by the City Manager or designee.
EXECUTIVE SUMMARY
The third round of the Affordable Housing and Sustainable Communities (AHSC) Program Notice of Funding Availability (NOFA) opened on January 29, 2016. The City, in partnership with Noyan-Frazier Capital, LLC, jointly submitted a Concept Proposal to SGC and HCD on March 16, 2016 requesting $5,738,730 in grant and loan funds for the South Stadium Transit Oriented Development (TOD) Project (Project). After subsequent review, the City/Noyan-Frazier team was invited to submit a Full Application for AHSC funds for the Project. The NOFA is highly competitive, with a minimum requirement of 50% of funds distributed to disadvantaged communities and a minimum amount of 50% of funds distributed for affordable housing. The AHSC Program encourages applications that include higher density, affordable housing near transit in addition to transportation capital improvements that improve pedestrian and bicycle access to transit. Full applications are due on June 20, 2016.
BACKGROUND
The Affordable Housing and Sustainable Communities Program was created by Senate Bill 862 (2014) to reduce greenhouse gas emissions through projects that implement land use, housing, transportation, and agricult...
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