HomeMy WebLinkAboutMINUTES - 04061993 - 1.52 .1 -52
Contra
TO: REDEVELOPMENT AGENCY Costa
FROM: Phil Batchelor Courcy
Executive Director r^ c Ufm J County
DATE: April 6, 1993
SUBJECT: Affordable Housing in the North Richmond Project Area of the
Contra Costa 'County Redevelopment Agency - North Richmond Job
Training Program
SPECIFIC REQUEST(S) OR RECOMMENDATIONS (S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
1. ACCEPT loan of up to $115, 000 from Contra Costa County's
Affordable Housing Special Revenue Fund (111300) to the
Redevelopment Agency in order to provide second mortgages to
residents in North Richmond, and AUTHORIZE the Deputy Director -
Redevelopment or his designee to execute a Loan Agreement with
Contra Costa County.
2 . ACCEPT loan of $15, 000 from Contra Costa County's. Affordable
Housing Special Revenue Fund (111300) to the Redevelopment
Agency with: which to provide funds for a North Richmond Job
Training Program, and AUTHORIZE the Deputy Director -
Redevelopment or his designee to execute a Loan Agreement with
Contra Costa County.
FISCAL IMPACT
No impact on General Fund. These two loans will be made from the
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.
CONTINUED ON ATTACHMENT: XX YES SIGNATURE:
RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDAT O . OF AGE Y COMMI EE
APPROVE OTHER
SIGNATURE(S) :
ACTION OF AGENCY ON April 6 , 1993 APPROVED AS RECOMMENDED _� OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS (ABSENT. ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ' ABSTAIN: MINUTES OF THE REDEVELOPMENT
AGENCY ON THE DATE SHOWN.
Contact:
Beth Lee ATTESTED— April 6 , 1993
646-4076 PHIL BATCHELOR,
cc: Community Development AG NCY SECRETARY
Auditor-Controller
CAO
County Counsel By
DEPUTY
2 . The Contra Costa County Redevelopment Agency will be promoting
a North Richmond Job Training Program with Rubicon Programs.
Both of these programs are to promote the stability of the North
Richmond neighborhood.
The Board of Supervisors approved this loan on behalf of the County
on March 23 , 1993 .
BLI OINRICHFUN.BO
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