Report Prepared by: Leah Brown, Management Analyst, Development Services Department
Title
SUBJECT: Adoption of a Resolution Authorizing the Recently Approved Housing Successor Agency Grant of $200,000 to CC915 Merced, Inc., Appropriating the Funds, and Authorizing the Execution of a Grant Agreement, Regulatory Agreement, and Related Covenants and Restrictions
REPORT IN BRIEF
Considers adopting a resolution authorizing the recently approved Housing Successor Agency Grant of $200,000 to CC915 Merced, Inc., appropriating the funds, and authorizing the execution of a Grant Agreement, Regulatory Agreement, and related covenants and restrictions for the affordable container home project.
RECOMMENDATION
City Council - Adopt a motion:
A. Adopting Resolution 2025-17, a Resolution of the City Council of the City of Merced, California, acting as the Housing Successor Agency to the City of Merced Redevelopment Agency, Approving a Housing Successor Grant to CC915 Merced, Inc. in the Principal Amount of $200,00., Approving and Authorizing the Execution of a Grant Agreement, Regulatory Agreement and related Grant Documents, and Authorizing certain other actions in connection therewith; and,
B. Approving a Deed Restriction Covenant and Grant Agreement, Regulatory Agreement and Declaration of Restrictive Covenants, Notice of Affordability Restrictions on Transfer of Property, and Agreement Containing Covenants Affecting Real Property for the CC915 Merced, Inc. affordable container home project; and,
C. Approving a Supplemental Appropriation in the amount of $200,000 from Fund-2513 Low Moderate-Income Housing; and,
D. Authorizing the City Manager to execute necessary documents and to make de minimis administrative changes if needed.
Body
ALTERNATIVES
1. Approve as requested by City Staff; or,
2. Approve, with modifications; or,
3. Deny; or,
4. Refer to City Staff for reconsideration of specific items to be addressed in City Council motion; or,
5. Continue to a ...
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