HomeMy WebLinkAboutMINUTES - 05011990 - 1.87 1-087
HOUSING AUTHORITY OF THE COUNTY OF CONTRA COSTA
TO: BOARD OF COMMISSIONERS DATE: May .1, 1990
FROM: Perfecto Villarreal , Executive Director `c:
SUBJECT: PROPOSED SENIOR HOUSING DEVELOPMENT IN ANTIOCH
I. RECOMMENDED ACTION:
AUTHORIZE the Executive Director of the Housing Authority of the County of
Contra Costa to proceed with negotiations with the City of Antioch and FPI Real
Estate Group to develop an affordable rent senior housing development in Antioch, as
a joint venture, and further AUTHORIZE the Executive Director to proceed with funding
applications to the California Housing Finance Agency and the California Department
of Housing and Community Development to secure both construction and permanent
financing for the proposed senior housing development, as recommended by the Advisory
Housing Commission.
II. FINANCIAL IMPACT:
None at this time.
III. REASONS FOR RECOMMENDATION/BACKGROUND:
Housing Authority staff has been meeting with officials from the City of
Antioch and representatives of the FPI Real Estate Group, a real .estate development
and property management firm based in Sacramento, for the past month. Discussions
have centered on the proposed development of an 80 to 88 unit senior housing
development to be constructed in Antioch. The location of the senior housing
development would be the square block between 7th and 8th Streets and "G" and "H"
Streets, near the downtown area of Antioch. The land is currently owned by the
Catholic Diocese. There are no structures on the property and the land has served as
a community garden for the past few years.
The City of Antioch plans to purchase the property from the Catholic Diocese.
The City will use Community Development Block Grant funds for this land purchase and
would then donate the land to the Housing Authority -to be used for the
development of an affordable rent senior housing complex. The Housing Authority
would work with the City of Antioch and the FPI Real Estate Group to submit funding
applications to the California Department of Housing and Community Development to
obtain both construction and permanent financing for this senior housing.
CONTINUED ON ATTACHMENT: YES SIGNATUPtE:
RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDA ION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S)
ACTION OF BOARD ON 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 DATE SHOWN.
CC: ATTESTED MAY 1 19901
Phil Batchelor, Clerk of the
Board of Commissioners
M382/7-83 BY DEPUTY
Board of Commissioners
May 1, 1990
Page -2-
The Housing Authority would serve as the owner of the senior housing. FPI
Real Estate Group would serve as the turn-key developer for the Housing Authority and
provide for the property management of the development. As owner, the Housing
Authority would monitor the complex to insure that it is operated as an affordable
rent senior housing development under the regulations of the California Rental
Housing Construction Program.
It is currently proposed that two-thirds of the rental units would be available
for very low income senior citizens and the remaining one-third of the units would be
for low income seniors. The projected rents are as follows:
48 - 1 BR Units - $267 plus utilities
5 - 1 BR Units - $304 plus utilities
24 - 1 BR Units - $479 plus utilities
3 - 2 BR Units - $542 plus utilities
At its Regular Meeting on Monday, April 16, 1990, the Advisory Housing
Commission voted to recommend that the Executive Director be authorized to proceed
with negotiations with the City of Anitoch and FPI Real Estate Group to develop an
affordable rent senior housing development in Antioch, as a joint venture proposal ,
and to proceed with funding applications to the California Housing Finance Agency and
the California Department of Housing and Community Development to secure both
construction and permanent financing of the proposed senior housing development.
IV. CONSEQUENCES OF NEGATIVE ACTION:
Should the Board of Commissioners elect to not authorize the Executive Director
to proceed with negotiations with the City of Antioch and FPI Real Estate Group, and
proceed with applications for both construction and permanent financing for the
proposed senior housing development, the opportunity to house at least 80 additional
low-income elderly families would be lost.