...Title
Actions Related to the Approval of a Grant Award to Habitat for Humanity East Bay/Silicon Valley for Sale of Four Affordable Units.
...Recommendations
(a) Adopt a resolution:
(1) Approving a grant award to Habitat for Humanity East Bay/Silicon Valley Inc. in an amount of $250,000 in Measure E Funds for downpayment assistance to decrease the sale price of four very-low to low-income for-sale affordable units located at the corner of East Reed Street and South 4th Street; and
(2) Authorizing the Housing Director, or his designee, to negotiate and execute grant documents, any amendments thereto, and all other documents related to the sale of the four affordable units and any underlying documents required for the closing of the construction financing.
(b) Adopt the following 2024-2025 Appropriation Ordinance amendments in the Real Property Transfer Tax Fund:
(1) Increase the Measure E - 5% Moderate-Income Households appropriation to the Housing Department by $250,000; and
(2) Decrease the Measure E - 5% Moderate-Income Households Reserve by $250,000.
(c) Adopt the following 2024-2025 Appropriation Ordinance amendments in the Affordable Housing Impact Fee Fund:
(1) Decrease the Housing Loans and Grants appropriation to the Housing Department by $250,000; and
(2) Increase the Unrestricted Ending Fund Balance appropriation by $250,000.
CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. Council District 3. (Housing/City Manager)