Title
RESOLUTION of the City of San Leandro City Council to Approve the Commitment and Allocation of City Affordable Housing Funding Sources to Abode Communities for Acquisition and New Construction of a Proposed 72-Unit Affordable Housing Project at 15101 Washington Avenue in an Amount Not to Exceed $7,000,000 ($5,015,000 from Alameda County Measure A-1 Bond funding; $349,960 from California Housing and Community Development Permanent Local Housing Allocation; and $1,635,040 from the City Low-Mod Housing Asset Fund)
Body
WHEREAS, in February 2021, the City released a competitive Request for Proposals (RFP) for a qualified affordable housing developer with a viable affordable housing project that would be eligible for the City's affordable housing funds; and
WHEREAS, after careful review, the City selected Abode Communities as the RFP awardee because it was best positioned to leverage the City's local, county and state funds; and
WHEREAS, Abode Communities, a nonprofit housing developer, proposes to develop a 72-unit affordable rental housing project ("Project") at 15101 Washington Avenue (the "Property"), a 1.19 acre vacant site identified by the City's Economic Development Division as a residential opportunity site; and
WHEREAS, the Project will be 100% affordable, with units primarily designated for very-low and extremely-low income households, with one manager's unit; and
WHEREAS, the Project proposes 22 units designated as supportive housing and targeted to homeless individuals and families who will be referred through Alameda County's Coordinated Entry System; and
WHEREAS, in order to make the Project financially feasible, Abode Communities will leverage various funding sources by using Seven Million Dollars ($7,000,000) in City-directed funds to finance the Project; and
WHEREAS, in November 2016, Alameda County Voters adopted an affordable housing bond measure...
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