...Title
Grant Agreement with Jamboree Housing Corporation for Operation of SureStay Hotel Located at 1488 North First Street.
...Recommendations
(a) Adopt a resolution authorizing the Director of Housing, or designee, to negotiate and execute the following:
(1) A conditional construction grant agreement and related documents with Jamboree Housing Corporation in an amount of up to $4,000,000 of Measure E funds for immediate capital repair needs for 72 interim housing units at the SureStay Hotel by Best Western, located at 1488 North First Street;
(2) An amendment to the current operations grant agreement with LifeMoves to increase the amount by $367,100 of Measure E funds and extend the term of the subcontractor (Jamboree), for a total grant award not to exceed $1,700,000 for property management and supportive services at the SureStay Hotel by Best Western, located at 1488 North First Street; and
(3) An operations grant agreement beginning in Fiscal Year 2023-2024 with three one-year options to extend, for a grand total not to exceed $9,000,000 of Measure E funds with Jamboree Housing Corporation for the SureStay Hotel by Best Western, located at 1488 North First Street.
(b) Adopt the following 2022-2023 Appropriation Ordinance Amendments in the General Fund:
(1) Decrease the Measure E - 40% Extremely Low-Income Households Reserve by $4,000,000; and
(2) Establish a Measure E - SureStay Hotel Repairs (40% ELI) appropriation to the Housing Department in the amount of $4,000,000.
CEQA: Exempt per Public Resources Code 21083 and CEQA Guidelines Section 15301 Existing Facilities, File No. ER23-023. Council District 6. (Housing/City Manager)