HomeMy WebLinkAboutMINUTES - 01311995 - 1.31 ~� Contra
Costa
TO: BOARD OF SUPERVISORS County
r c uht�J
FROM: Harvey E. Bragdon
Director of Community Development
DATE: February 7, 1995
SUBJECT: HOME Project Agreement and Loan Documents for the Church Lane
Apartment Project
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
AUTHORIZE the Deputy Director, Redevelopment or his designee to ( 1)
execute a HOME Investment Partnership Act (HOME) Project Agreement
with Church Lane Housing Corporation to provide $245, 000 in FY 1994
HOME funds to develop the Church Lane Apartments in San Pablo; and (2)
execute required loan documents for this purpose.
FISCAL IMPACT
No General Funds are involved. funds for this project will come from
FY 1994 HOME funds provided through the U.S. Department of Housing and
Urban Development.
BACKGROUND/REASONS FOR. RECOMMENDATIONS
On . September 13, 1994, the Board of . Supervisors approved the
allocation of Contra Costa FY 1994 HOME funds, including an allocation
CONTINUED ON ATTACHMENT: x YES SIGNATURE :
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON January 31, 1995 APPROVED AS RECOMMENDED X OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
Contact: Kathleen Hamm
646-4208 ATTESTED January 31, 1995
cc: County Administrator PHIL BATCHELOR, CLERK OF
County Counsel THE BOARD OF SUPERVISORS
Auditor-Controller (N. Garnett) AND COUNTY ADMINISTRATOR
Community Development
Rubicon via Community Developmt. BY , DEPUTY
of $245, 000 to Rubicon Programs, Inc. for the Church Lane
Apartments . the purpose of this project is to provide additional
multifamily rental housing affordable to and occupied by very-low
income families and individuals . The project will be located on a
currently vacant site at 2560 Church Lane in San Pablo and will
involve the new construction of 22 units, including seven three-
bedroom units and one four-bedroom unit suitable for large
families . Six onb-bedroom units will be targeted to special needs
populations, including the disabled, very-low income seniors, and
households which have successfully completed transitional programs
for the homeless . Eleven units will be occupied by and affordable
to households with incomes at or below 50 percent of the area
median income (AMI ) , including a minimum of ten units to be
designated as HOME-assisted units . All remaining units will be
affordable at 60 percent AMI . The project will remain affordable
for a minimum of 55 years . Planned amenities include a tot lot and
play area, community garden, laundry facilities, and a community
service room.
The project will be developed and managed by Church Lane Housing
Corporation, a new, single-purpose nonprofit to be established with
Rubicon Programs, Inc. as the General Partner. During
construction, Rubicon will provide training to disabled and
disadvantaged County residents by hiring them to work on the
project with skilled union workers .
The total development cost of this project is $2, 601, 905 or
$118,268 per unit. Sources of funds for this project include the
following:
County HOME funds $ 245,000
County CDBG funds $ 245,000
Low-Income Housing Tax Credits $1, 334,905
Affordable Housing Program Loan
and Grant $ 777 ,000
TOTAL RESOURCES $2,601, 905
HOME funds may be used for construction, financial fees,
affirmative marketing, initial operating reserves, and other
eligible project costs approved in advance by the County. HOME
funds will be provided to the project in the form of a loan with
occupancy and affordability restrictions . The project is expected
to begin construction in the spring of 1995 and be ready for
occupancy by June of 1996 .
kh/kll/BOS94-4