HomeMy WebLinkAboutMINUTES - 05172011 - C.53RECOMMENDATION(S):
APPROVE and AUTHORIZE the Redevelopment Director, or designee, to execute a
Commercial Rehabilitation Loan Agreement and Ancillary Documents with Community
Housing Development Corporation of North Richmond (CHDC) for the renovation of
1535-E Third Street, North Richmond.
FISCAL IMPACT:
No General fund money will be used for this loan. The total loan amount is $150,000. The
term of the loan is 15 years and it terminates in 2026. The Loan Agreement provides for
repayment on an annual basis with a 3% interest rate. The Loan Agreement provides for the
annual Loan Payment installment to be forgiven if CHDC is in substantial compliance with
a Community Service Plan. The Community Service Plan identifies a list of community
services that CHDC is expected to provide on an ongoing basis to the North Richmond
community. The Community Service Plan includes a) activities that implement the North
Richmond Affordable Housing Memorandum of Understanding; b) assistance to the County
Housing Authority in evaluating alternative uses for the Authority's scattered sites and
public housing units; c) services implementing the COMET Program; and d) continued
operation of the financial literacy program. The Redevelopment Agency’s financial
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 05/17/2011 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I
Supervisor
Gayle B. Uilkema, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
Contact: Jim Kennedy,
925-335-7225
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board
of Supervisors on the date shown.
ATTESTED: May 17, 2011
David J. Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
C.53
To:
From:Jim Kennedy, County Redevelopment Director
Date:May 17, 2011
Contra
Costa
County
Subject:Commerical Rehabilitation Loan Agreement
obligation (loan) is from budgeted funds under the North Richmond Redevelopment Project
Area for fiscal year 2010-11.
BACKGROUND:
One of the major goals of the North Richmond Redevelopment Plan is to improve service
delivery in the project area. Renovating the former commercial/retail site to accommodate
the community services function of Community Housing Development Corporation of
North Richmond (CHDC) is a crucial step in achieving this goal. CHDC is a non-profit
housing developer with a long history of providing needed services to the North
Richmond community.
CHDC recently submitted expansion plans to the County's Conservation & Development
Department and now has finalized drawings to secure building permits from the Building
Inspection Division to physically transform the area into additional office space. The
completion of this space will result in complete occupancy of the North Richmond Town
Center. The subject retail space has been underutilized for several years. Numerous
attempts to establish a commercial restaurant have failed. This site is highly visible and
sits in a prime location between the North Richmond Health Center, County Service
Integration Team, and the 52 unit Senior Heritage Apartments.
The expansion plan calls for tenant improvements to renovate approximately 1,000
square feet on the ground floor of 1535-E Third Street. Specific improvements include,
among other items: upgrades to the ceiling, walls, flooring, electrical, doors, and
accessory details.
Expanding this space will improve operational efficiencies and allow CHDC to increase
its program offerings like the First Time Homebuyers Program, Financial Literacy,
Foreclosure Prevention, and Earn It-Keep It-Save It Program. Renovating this space also
continues the Agency’s efforts to create a sense of place for the North Richmond Town
Center.
CONSEQUENCE OF NEGATIVE ACTION:
Should the Governing Board not approve the loan agreement, the site would remain
vacant, underutilized, and the community will continue to experience a lack of services
and programs.
CHILDREN'S IMPACT STATEMENT:
The agreement, if approved, would provide enhanced services and financial resources to
the residents, including single parents, in the North Richmond community.
ATTACHMENTS
Agreement