HomeMy WebLinkAboutMINUTES - 03231993 - 1.76 c
. Contra
r Costa
TO: BOARD OF SUPERVISORS Cou
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FROM: Harvey E. Bragdon
Director of Community Development
DATE: March 231 1993
SUBJECT: Affordable Housing in the North Richmond Project Area of the Contra
Costa County Redevelopment Agency - North Richmond Job Training
Program
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SPECIFIC REQUEST(S) OR RECOMMENDATIONS (S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
1. APPROVE loan of up to $115, 000 from the Affordable Housing
Special Revenue Fund (111300) to the Contra Costa County
Redevelopment Agency with which to provide second mortgages to
residents in North Richmond, and AUTHORIZE the Director of
Community Development or his designee to execute a Loan
Agreement with the Contra Costa County Redevelopment Agency.
2 . APPROVE loan of $15, 000 from the Affordable Housing Special
Revenue Fund (111300) to the Contra Costa County Redevelopment
Agency with which to provide funds for a North Richmond Job
Training Program, and AUTHORIZE the Director of Community
Development or his designee to execute a Loan Agreement with the
Contra Costa County Redevelopment Agency.
FISCAL IMPACT
No impact on the General Fund. These two loans will be made from the
CONTINUED ON ATTACHMENT: YES SIGNATURE: Y
J
RECOMMENDATION OF COUNTY ADMINISTRATOR RECO DATION O BOARD CO TTEE
APPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON Marrh 23 , IA9-1 APPROVED AS RECOMMENDED x _ OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
x UNANIMOUS (ABSENT II ) 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.
Jim Kennedy
646-4076
cc: Community Development
ATTESTED March 23 , 1993
PHIL BATCHELOR, CLERK OF
THE BOARD OF SUPERVISORS
AND COUNTY ADMINISTRATOR
X:DS:Ih BYO.JP444z , DEPUTY
srt&nrich i.hos
Affordable Housing Special Revenue Fund (111300) from unobligated
funds.
BACKGROUND/REASONS FOR RECOMMENDATIONS
1. The Contra Costa County Redevelopment Agency has been
promoting the building of seven infill homes in the North
Richmond Project Area. Second mortgages are being provided
from two other sources: CDBG funds and Redevelopment Tax
Increment. The remaining amount is being provided by the
Affordable Housing Special Revenue Fund.
2 . The Contra Costa County Redevelopment Agency will be promoting
a North Richmond Job training Program with Rubicon.
Both of these programs are to promote the stability of the North
Richmond neighborhood.