HomeMy WebLinkAboutMINUTES - 09181990 - 1.58 THE BOARD OF COMMISSIONERS, HOUSING AUTHORITY OF THE COUNTY OF CONTRA COSTA
RESOLUTION NO. 3593
RESOLUTION AUTHORIZING THE EXECUTION OF A DISPOSITION AND
DEVELOPMENT AGREEMENT BETWEEN THE CITY OF ANTIOCH AND THE
HOUSING AUTHORITY OF THE COUNTY OF CONTRA COSTA FOR. THE
PURPOSE OF CONSTRUCTING AN AFFORDABLE SENIOR HOUSING
DEVELOPMENT IN THE CITY OF ANTIOCH
WHEREAS, the Housing Authority of the County of Contra Costa (hereinafter
referred to as "Housing Authority") is a public body, corporate
and politic established under the laws of California and empowered
to own property, borrow money, and give security for loans; and,
WHEREAS, the City Council of the City of Antioch has unanimously approved a,
Disposition and Development Agreement between the City of Antioch
and the Housing Authority for purposes of constructing an
affordable senior housing complex; and,
WHEREAS, the Housing Authority wishes to enter into this Disposition and
Development Agreement for the development of such housing; and,
WHEREAS, the Executive Director, Perfecto Villarreal , will act on behalf of
the Housing Authority of the County of Contra Costa. and will sign
all necessary documents required to execute and enter into this
Disposition and Development Agreement:
NOW, THEREFORE, BE IT RESOLVED THAT THE Board of Commissioners of the Housing
Authority of the County of Contra Costa hereby authorizes the
Executive Director, Perfecto Villarreal , to execute and enter into
the Disposition and Development Agreement as approved by the City
Council of the City of Antioch.
PASSED AND ADOPTED THIS 18t1i day of September Ig 90
by the following vote of the Commissioners:
AYES: Commissioners Powers, McPeak, Torlakson, Fanden
NOES: None
ABSENT: Commissioner Schroder
ABSTAIN: None
cc: County Administrator I hereby cor•.ity thz; this is a true and correct copy of
County Counsel an action taken and rntored on the minutes of the
Housing Authority Board of supervisors on the date shown.
ATTESTED: — SEP P 1 R 1NO
PHIL BATCHELOR,Clerk of the Board
of Supervisors and County Administrator
�� .Deputy
HOUSING AUTHORITY OF THE COUNTY OF CONTRA COSTA
T0: BOARD OF COMMISSIONERS DATE: September 18, 1990
FROM: Perfecto Villarreal , Executive Director
cc:
SUBJECT: DISPOSITION AND DEVELOPMENT AGREEMENT WITH THE CITY OF ANITOCH
FOR THE DEVELOPMENT OF AN ANTIOCH SENIOR HOUSING DEVELOPMENT
I. RECOMMENDED ACTION:
ADOPT Resolution No. 3593 authorizing the Executive Director of the Housing
Authority of the County of Contra Costa to execute the Disposition and Development
Agreement, as approved by the Antioch City Council and recommended by the Advisory
.Housing Commission.
II. FINANCIAL IMPACT:
The Disposition and Development Agreement provides that the City of Antioch
will grant the Housing Authority the following:
1. Convey fee simple title to land to be used to construct senior housing.
Cost of land is approximately $380,000.
2. Tax increment subsidies of $115,000 per year for 40 years.
3. Pre-construction loan of $50,000 at no interest and to be repaid in three
years.
4. Reduction or waiver of development fees associated with construction of an
82-unit senior housing development.
5. Exemption of real estate taxes for this low-income senior housing
development.
III. REASONS FOR RECOMMENDATION/BACKGROUND:
At its Regular Meetings on May 1, and August 7, 1990, the: Board of
Commissioners authorized the Executive Director to proceed with negotiations with the
City of Antioch and to submit funding applications for the development of an
affordable senior housing complex 'in the City of Antioch.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDAT N OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S)
ACTION OF BOARD ON SEP 18 inn APPROVED AS RECOMMENDED OTHER
VOTE OF COMMISSIONERS
UNANIMOUS (ABSENT ) I HEREBY CERTIFY THAT THIS A TRUE AND
AYES: NOES: CORRECT COPY OF AN ACTION TAKEN AND
ABSENT: ABSTAIN: ENTERED ON THE MINUTES -OF THE BOARD
OF COMMISSIONERS ON THE TATE SHOWN.
CC:
ATTESTED SEP 1;8 1990
Phil Batchelor, Clerk of the
Board of Commissioners
M3e2/7-e3 BY C. DEPUTY
i
�L r
Board of Commisioners
September 18, 1990
Page -2-
A resolution approving the Disposition and Development Agreement, for property
commonly described as bounded by "G", Seventh, "H" and Eighth Streets in the City of
Antioch, for the development of an affordable senior housing project, was passed by
the City Council of the City of Antioch at a regular meeting on August 1990 by a
unanimous vote. This Disposition and Development Agreement (DDA) provides that the
City of Antioch will file and prosecute an eminent domain action in Contra Costa
County Superior Court to its conclusion to obtain fee simple title to the subject
property, and then convey that fee simple title to the Housing Authority, with the
understanding that the Housing Authority will be responsible for the construction and
operation of approximately 82 units for low income and very low income senior
citizens.
The proposed Disposition and Development Agreement stipulates that for a period
of at least 40 years the Housing Authority will charge rents in :this development that
conform to the affordability guidelines of state and federal agencies for persons of
at least "low income". The Disposition and Development Agreement suggests the
following rents will be in effect at commencement of occupancy: :
Type of Unit #of Units Rent/Mo.
1 bdrm. Very low income 47 $267 ;
2 bdrm. Very low income 8 $304 :
1 bdrm. Low income 23 $479 ;
2 bdrm. Low income 4 $542 '
Two funding proposals, to the California Department of Housing and Community
Development and the California Housing Finance Agency, have been submitted at rents
affordable to very low income residents, roughly corresponding to the very low income
rent schedule specified above.
In order to maintain rent levels at the lowest possible level the Disposition
and Development Agreement specifies that the Antioch Development Agency will provide
a grant from each year's tax increment receipts to the Housing Authority in the
amount of $115,000 each year for a period of forty (40) years. The Disposition and
Development Agreement further provides that the City of Antioch will use its best
efforts to reduce or waive development fees associated with the construction of the
project, as well as take the necessary steps to secure an exemption from real
property taxes collected by the County of Contra Costa. Finally, the Disposition and
Development Agreement provides for a Pre-Construction Loan from the Antioch
Development Agency to the Housing Authority, bearing no interest, in the amount of
$50,000, to be repaid within three (3) years.
At its Regular Meeting on Monday, September 17, 1990 the Advisory Housing
Commission moved to recommend adoption of Resolution No. 3593, which authorizes the
Executive Director to execute the Disposition and Development Agreement, as approved
by the City of Antioch City Council , on behalf of the Housing Authority.
IV. CONSEQUENCES OF NEGATIVE ACTION:
Should the Board of Commissioners elect to not adopt Resolution No. 3593
authorizing the execution of the Disposition and Development Agreement with the City
of Antioch, the Housing Authority could forfeit the opportunity!, to supply an
additional 82 units of low and very low-income housing in the City of Antioch.
cc; County Administrator
County Counsel
Housing Authority