Report Prepared by: Leah Brown, Management Analyst, Development Services
Title
SUBJECT: Adoption of Resolutions Authorizing the Submittal of Joint Applications and Participation in the State of California Housing and Community Development (HCD) Homekey Grant Program with Two Affordable Housing Developer/Applicants
REPORT IN BRIEF
Considers adopting resolutions authorizing the submittal of joint applications for participation in HCD Homekey Grant Program with CC915 Merced, Inc. and Shangri-La Industries LLC.
RECOMMENDATION
City Council - Adopt a motion:
A. Adopting Resolution 2023-43, a Resolution of the City Council of the City of Merced, California, authorizing a joint application to and participation in the Homekey Program with CC915 Merced, Inc.; and,
B. Adopting Resolution 2023-44, a Resolution of the City Council of the City of Merced, California, authorizing a joint application to and participation in the Homekey Program with Shangri-La Industries LLC; and,
C. Authorizing the City Manager or Deputy City Manager to execute the Standard Agreements if selected for such funding and any amendments thereto, and any related documents necessary to participate in the Homekey Program; and,
D. Authorizing the Finance Officer to make any budget amendments necessary for the implementation of the use of the Homekey Program; and,
E. Authorizing the use of pooled cash until reimbursement if one or both projects are granted awards from the Homekey Program.
Body
ALTERNATIVES
1. Approve, as recommended by staff; or,
2. Approve, with modifications; or,
3. Deny the request completely; or,
4. Refer to staff for reconsideration of specific items as requested by Council; or,
5. Continue to a future City Council meeting (date and time to be specified in the motion).
AUTHORITY
Charter of the City of Merced, Section 200.
CITY COUNCIL PRIORITIES
As provided for in the 2022-2023 Adopted Budget and the City Council's Pro-Housing Policies.
DISCUSSION
The Stat...
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