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HomeMy WebLinkAboutReso 139-2024 (24-896)File Number: 24-896 City of South San Francisco City Council Resolution: RES 139-2024 P.O. Box 711 (City Hall, 400 Grand Avenue) South San Francisco, CA Enactment Number: RES 139-2024 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SOUTH SAN FRANCISCO AUTHORIZING THE CITY'S APPLICATION TO THE STATE OF CALIFORNIA'S LOCAL HOUSING TRUST FUND PROGRAM FOR $5,000,000 TO SUPPORT AFFORDABLE HOUSING PRODUCTION WITHIN THE CITY. A quorum and majority of the City Councilmembers of the City of South San Francisco ("Applicant") hereby consents to, adopts, and ratifies the following resolution: A. WHEREAS, the State of California (the "State") Department of Housing and Community Development ("Department") is authorized to provide up to $53 million under the Local Housing Trust Fund ("LHTF") Program from the Veterans and Affordable Housing Bond Act of 2018 (Proposition 1) (as described in Health and Safety Code section 50842.2 et seq. (Chapter 365, Statutes of 2017 (SB 3)) ("Program"); B. WHEREAS, the Department issued a Notice of Funding Availability ("NOFA") dated 7/9/2024 under the LHTF Program; C. WHEREAS, the Applicant is an eligible Local or Regional Housing Trust Fund applying to the Program to administer one or more eligible activities using Program Fund; and. D. WHEREAS the Department may approve funding allocations for the LHTF Program, subject to the terms and conditions of H&S Code Section 50842.2, the LHTF Program Guidelines, NOFA, Program requirements, the Standard Agreement and other related contracts between the Department and LHTF award recipients. NOW THEREFORE BE IT RESOLVED THAT: I.If Applicant receives an award of LHTF funds from the Department pursuant to the above referenced LHTF NOFA, it represents and certifies that it will use all such funds on Eligible Projects in a manner consistent and in compliance with all applicable state and federal statutes, rules, regulations, and laws, including, without limitation, all rules and laws regarding the LHTF Program, as well as any and all contracts Applicant may have with the Department ("Eligible Project"). 2.NOW, THEREFORE, IT IS RESOLVED: That the City of South San Francisco is hereby authorized to act as the manager in connection with the Department's funds to Eligible Projects pursuant to the above described Notice of Funding Availability in an amount not to exceed $5,000,000 (the "LHTF Award"). 3.Applicant hereby agrees to match on a dollar -for -dollar basis the LHTF Award pursuant to Guidelines Section 104. Applicant hereby agrees to utilize matching finds on a dollar -for -dollar City of South San Francisco Printed on 9/12/24 File Number: 24-896 Enactment Number: RES 139-2024 basis for the same Eligible Project for which Program Funds are used, as required by HSC Section 50843.5(c). See Attachment 1 for description of how LHTF funds will be used. 4.Pursuant to Attachment 1 and the Applicant's certification in this resolution, the LHTF funds will be expended only for Eligible Projects and consistent with all program requirements. 5.[Reserved. Not applicable to the City as applicant.] 6.Applicant shall be subject to the terms and conditions as specified in the Standard Agreement, H&S Section 50842.2 and LHTF Program Guidelines. 7.The City Manager of the City of South San Francisco is authorized to execute the LHTF Program Application, the LHTF Standard Agreement, and any subsequent amendments or modifications thereto, as well as any other documents which are related to the Program or the LHTF Award to Applicant, as the Department may deem appropriate. ATTACHMENTS: l .Description of LHTF Award Spending PASSED AND ADOPTED at a regular meeting of the City Council of the City of South San Francisco this I Ith day of September 2024 by the following vote: AYES: ABS Approving Officer: Signature of Approving Officer CERTIFICATE OF THE ATTESTING OFFICER The undersigned, Officer of Yk 6�d a64I7**M does hereby attest and certify that the foregoing Resolution is a true, full and correct v6p� of a resolution duly adopted at a meeting of the City Council of the City of South San Francisco, which was duly convened and held on the date stated thereon, and that said document has not been amended, modified, repealed or rescinded since its date of adoption and is in full force and effect as f the date hereof. ATTEST: c1 ,3 L2-o2� Signature of Attesting Officer City of South San Francisco File Number: 24-896 Enactment Number: RES 139-2024 At a meeting of the City Council on 9/11/2024, a motion was made by Councilmember Nicolas, seconded by Councilmember Addiego, that this Resolution be approved. The motion passed. Yes: 5 Mayor Coleman, Vice Mayor Flores, Councilmember Addiego, Councilmember Nagales, and Councilmember Nicolas Attest by Govea Acosta, City Clerk City of South San Francisco Attachment 1 The City of South San Francisco's Local Housing Trust Fund (LHTF) match (of land and funding) and the proposed LHTF grant will be used for predevelopment and development of affordable rental housing in the City of South San Francisco. All units funded will serve households earning at or below 80% of the area median income, with 30% of units funded serving households earning 30% or less of the area median income. All income targeting will comply with the 2024 LHTF NOFA and LHTF Guidelines. The City has made the following commitments as match for the City's $5 million LHTF application: - $2 million loaned to BRIDGE Housing for 1051 Mission Road from the City's housing trust fund, funded by impact fees on commercial development, - $556,789 loaned to Rotary -Beacon for 500 Linden Avenue from the City's first two years of State PLHAfunds, and - $6,850,000 in housing trust funds, funded by impactfees on commercial development, used to acquired three properties with ground floor retail and long -vacant single room occupancy hotel rooms on the second floor. The City is applying for $5 million in LHTF funds and commits to funding two specific projects using at least $2.5 million of these LHTF funds: $2 million for the 158 affordable rental housing units at 1051 Mission Road and $556,789 for 80 affordable senior rental housing units at 500 Linden. Commitment letters from the City to the developers of these projects are being considered for approval concurrently with approval of this Resolution. The balance of LHTF funds will be used for $250,000 in administrative expenses (remaining at or under the 5% cap on administrative expenses) and to fund additional new construction or rehabilitation of affordable rental housing in compliance with LHTF Guidelines.