HomeMy WebLinkAboutMINUTES - 05171988 - 1.67 HOUSING AUTHORITY OF THE COUNTY OF CONTRA COSTA
TO: BOARD OF COMMISSIONERS DATE: May 17, 1988
FROM: cc:
Perfecto Villarreal , Executive Director
SUBJECT:
REQUEST FOR FUNDING OF LOAN SUBSIDIES - SECOND UNIT PROGRAM (DUO)
I. RECOMMENDED ACTION:
APPROVE a set aside from Housing Authority Local Management Funds in an amount
not to exceed $10,925.00 for use in the funding of two DUO projects: Ava Brindley
and Michael Carney; as recommended by the Advisory Housing Commission.
II. FINANCIAL IMPACT:
The $10,925.00 in project subsidy necessary for these two DUO projects is
available through the Local Management Funds of the Housing Authority.
III. REASONS FOR RECOMMENDATION/BACKGROUND:
On May 14, 1985 the Board of Commissioners authorized the Housing Authority to
enter into an agreement with the San Francisco Foundation for the operation and
implementation of a Double Unit Opportunity (DUO) program in Contra Costa County. On
July 18, 1985 the Board of Supervisors authorized implemention of the Double Unit
Opprunity DUO) program as a joint effort between the County, the Housing Authority
and the San Francisco Development Foundation. As a result of this joint effort,
Contra Costa County adopted its Second Unit Ordinance.
At the end of March, the agreement with the San Francisco Development Fund
ended and the caseload for the DUO program was turned over to the Housing Authority.
During the life of the program, a total of four projects were completed. Three
project subsidies, for a total of $36,956, were funded using the San Francisco
Foundation Development Fund. Currently, seven unfunded projects are still pending.
Two of the projects will not be eligible for Community Development- Block Grant
funding because they are essentially new construction.
Without additional funding, these two projects can not be funded. San
Francisco Foundation is unable to make an additional grant and staff feels that the
Housing Authority has an obligation to fund these projects:
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURES)
ACTION OF BOARD ON MAYAPPROVED AS RECOMMENDED OTHER
VOTE OF COMMISSIONERS
X.... 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 DATE SHOWN.
cc: County Administrator-. ATTESTED MAY 17 1988
County Counsel Phil Batchelor, Clerk of the
Housing Authority,- Board of Commissioners
M 882/7-68 ,
BY � .: ; DEPUTY
Board of Commissioners
May 17, 1988
Page -2-
Estimated Estimated
Project Cost Subsidy
Ava Bindley, El Sobrante $25,000.00 $ 6,278.00
Michael Carney, Martinez $38,000.00 $ 9,542.00
Total Estimated Subsidy Required $15,820.00
Less Balance, San Francisco Foundation Grant $ 4,895.00
Estimated Deficit $10,925.00
These applicants have persevered through a long and arduous application process
with every expectation that the subsidy required to make their loan would be
available and, as the owners of these units will be required to rent the units to low
income families at affordable rents for the life of the loan, staff recommended to
the Advisory Housing Commission that Local Management Funds in an amount not to
exceed $10,925.00 be set aside for use in the DUO program to cover the estimated
deficit.
At its Regular Meeting on May 16, 1988, the Advisory Housing Commission voted
to recommend a set aside from Local Management Funds in an amount not to exceed
$10,925.00 for use in the funding of two DUO projects: Ava Brindley and Michael
Carney.
IV. CONSEQUENCES OF NEGATIVE ACTION:
Should the Board of Commissioners elect to not approve the set aside of
$10,925.00 from Housing Authority Local Management Funds for the funding of these two
DUO projects, an opportunity to develop housing for two low income families would be
lost.