...Title
Actions Related to the Gallup-Mesa Development for Affordable Housing Project Located at 5647 Gallup and 1171 Mesa Drive.
...Recommendations
(a) Approve a grant deed reflecting a lot line adjustment on City-owned property located at 5647 Gallup and 1171 Mesa Drive for the development of the Gallup-Mesa affordable housing project by Eden Housing, Inc. or its affiliate under the terms and conditions of the proposed leasehold restrictions, option and ground lease.
(b) Adopt a resolution authorizing the Director of Housing to negotiate and execute a change in City Loan terms for the Gallup-Mesa development in order to allow an increase in the Development’s rents and income up to 60% of the Area Median Income (or low income threshold) for new tenants in the event of the expiration or termination of subsidy contracts, and for all tenants in the event of a foreclosure, to the extent the City has determined such increase is needed for feasibility of the Development.
CEQA: Exempt per Public Resources Code section 21080(b)(1) and CEQA Guidelines section 15369 Ministerial Project pursuant to Government Code Section 65913.4, File No. ER20-109. (Housing)