HomeMy WebLinkAboutMINUTES - 02262013 - C.64RECOMMENDATION(S):
ALLOCATE $800,000 in Summer Lake Affordable Housing (SLAH) funds to Satellite Affordable Housing
Associates (SAHA) for the 85 unit Tabora Gardens affordable senior housing project in Antioch and
ALLOCATE $250,000 in SLAH funds to Corporation for Better Housing (CBH) for the 30 unit Oak Ridge
affordable housing development for families in Oakley.
ALLOCATE $75,000 in SLAH funds for County staff administration costs associated with the Tabora Gardens and
Oak Ridge developments.
FISCAL IMPACT:
No General Fund impact. (100% Summer Lake Affordable Housing funds)
BACKGROUND:
The Summer Lakes Project was approved by the County prior to the annexation by the City of Oakley. As part of the
annexation, the County and City agreed that the $3,333 affordable housing fee charged for each new home would be
collected and transferred to the County. The agreement requires that the funds be used in East County and that the
County consider reserving 20 percent of the fees for affordable housing development East Cypress Corridor Planning
Area 6-H. Approximately 25 percent of the anticipated fees have been paid to date. Through this action, the Board is
allocating 24 percent of those funds to the Oak Ridge Apartment project in Oakley. The County may consider
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 02/26/2013 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I Supervisor
Candace Andersen, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
Contact: Kara Douglas
674-7880
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: February 26, 2013
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
C. 64
To:Board of Supervisors
From:Catherine Kutsuris, Conservation & Development
Date:February 26, 2013
Contra
Costa
County
Subject:Recommendation to allocate $1,125,000 in Summer Lake Affordable Housing funds for Oak Ridge Apt ($250,000),
Tabora Gardens ($800,000) and Admin
reserving future receipts for Planning Area 6-H.
In October, 2012, Department of Conservation and Development staff issued a Notice of Funding Availability for
federal HOME Investment Partnerships Act and Community Development Block Grant funds. The requests for
HOME funds exceeded available resources by 6:1. In order to fund as many good projects as possible, County staff is
recommending SLAH funds be used to support two East County projects:
1. Staff recommends the Board allocate $800,000 in SLAH to Satellite Affordable Housing Associates (SAHA,
formerly Satellite Housing) for a 85 unit senior housing development, Tabora Gardens, in Antioch. SAHA was
awarded $1 million in HOME funds in 2011. This project is slow moving and HOME has short expenditure
requirements. Therefore, staff is recommending that the HOME funds be replaced with SLAH and $200,000 in
Neighborhood Stabilization Program funds.
2. Staff is also recommending that $250,000 in SLAH funds be allocated to Corporation for Better Housing (CBH)
for a 30 unit family apartment project, Oak Ridge, in Oakley. Staff has concurrent recommendations to the Board of
Supervisors to allocate $1.3 million in HOME funds and Inducement resolution 2013/111 for a County issuance of
tax exempt bonds on the February 26, 2013 agenda.
Tabora Gardens has already undergone State and federal environmental reviews (CEQA and NEPA). Oak Ridge
Apartments has undergone CEQA review and the NEPA review is underway.
The County will enter into various legal documents with the developers for each project. These documents may
include some or all of the following: Loan Agreement, Promissory Note, Deed of Trust and Security Agreement,
Regulatory Agreement, Intercreditor Agreement, Subordination Agreement, Loan Riders and Estoppels. The form of
these documents will be submitted for Board of Supervisors approval at a later date, but prior to execution of any
legal documents.
Staff also recommends that $75,000 on the SLAH funds be reserved for administration expenses related to the
development of the Tabora Gardens and Oak Ridge projects.
BACKGROUND: (CONT'D)
Related Board Actions
In addition to the recommendations in this Board Order, the Board of Supervisors will consider the following
recommendations on the February 26, 2013 agenda:
1. Recapture $1 million in unspent HOME funds from the Satellite Affordable Housing Associates (SAHA) Tabora
Gardens project for use in other projects.
2. Amend the Neighborhood Stabilization Program (NSP) Substantial Amendment to add an activity number 8. This
new activity will allow the County to allocate NSP funds to support the development of new construction on vacant
land.
3. Budget $1.2 million in NSP for the new activity #8 and allocate allocate $200,000 to SAHA for Tabora Gardens,
an 85 unit affordable senior housing project in Antioch.
CONSEQUENCE OF NEGATIVE ACTION:
If the Board does not approve the funding recommendations, the project sponsors seeking funds will not be able to
submit applications to the Tax Credit Allocation Committee and the California Debt Limit Advisory Committee on
March 6, 2013.
CHILDREN'S IMPACT STATEMENT:
The Oak Ridge Apartments project will provide 30 units of affordable rental housing appropriate for families. This
supports outcome #3: Families are Economically Self Sufficient