Title
Adopt a Resolution to Approve and Authorize the City Manager to Submit a California Department of Housing and Community Development Affordable Housing and Sustainable Communities (AHSC) Round 9 Program Application Together with Pacific West Communities, Enter into a Memorandum of Understanding with Alameda County Transportation Commission, and Execute Documents to Accept the Program Funds for the Bay Fair Apartment Project
Staffreport
COUNCIL PRIORITY
• Housing and Homelessness
• Infrastructure
• Sustainability & Resiliency
• Fiscal Sustainability and Transparency
• Community & Business Development
SUMMARY
The Resolution would authorize submission of an application in conjunction with Pacific West Communities for funds to support the Bay Fair Apartment project, enter into a memorandum of understanding (MOU) with Alameda County Transportation Commission (Alameda CTC) for construction of certain improvements, and if funding is awarded, authorize execution of documents required to receive program funds.
RECOMMENDATIONS
Staff recommends that the City Council adopt a resolution to authorize the listed actions.
BACKGROUND
The Affordable Housing and Sustainable Communities (AHSC) Program provides loans and grants for projects that provide affordable housing and pedestrian, bicycle, and transit facilities. The program is funded from California’s cap and trade emission reduction program. Applications require a partnership between a housing developer and a public agency.
Pacific West Communities has prepared plans for Bay Fair Apartments, a 497-unit housing project that qualifies as an affordable housing project. It is proposed that the City Council approve, and authorize the City Manager to execute a MOU with Alameda CTC to implement the East Bay Greenway Multimodal (Phase 1) Project. Together with the Bay Fair Apartments project, staff believes that the application meet the goals of the AHSC program for a funding award.
ANALYSIS
Staff proposes that the City partner with Pacific West Communities to submit a funding application for up to $50,000,000 consisting of up to $35,000,000 as a loan for the Bay Fair Apartment project and up to $15,000,000 as a grant for pedestrian, bicycle, and transit improvements. If the City decides not to partner with Pacific West Communities, Pacific West Communities will be unable to apply for the program funds.
Staff proposes that the City enter into a MOU with Alameda CTC obligating Alameda CTC to construct the multimodal improvements previously listed and obligating the City to forward up to $15,000,000 in AHSC grant funds to Alameda CTC to do the work.
Staff proposes that if AHSC awards funding for the project, the City accept the funds and execute all documents required to obtain the program funding.
If funding is awarded, Alameda CTC will be responsible for construction of the multimodal improvements previously listed and will receive $15,000,000 for the work. Pacific West Communities will receive a loan of $35,000,000 for construction of Bay Fair Apartments. Failure to complete any aspect of the project will likely require returning the funds and may impact the City’s future ability to compete for grant funds.
Financial Impacts
There is no impact to the General Fund. There is no required local match for the grant.
ATTACHMENT
Attachment A: AHSC Round 9 Resolution
Attachment B: Draft AHSC Alameda CTC MOU
PREPARED BY: Robin Chee, Associate Engineer, Public Works Department - Engineering