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File #: 25-001    Version: 1 Name:
Type: Action Items Status: Agenda Ready
File created: 12/12/2024 In control: City Council/Public Finance and Economic Development Authority/Parking Authority
On agenda: 1/21/2025 Final action: 1/21/2025
Title: SUBJECT: Adoption of a Resolution Authorizing the Submittal of a Joint Application and Participation in the State of California Housing and Community Development (HCD) Homekey+ Grant Program with Up Holdings California, LLC and UP Mercy Village LP for an Amount not to Exceed $30,000,000 REPORT IN BRIEF Considers adopting a resolution authorizing the submittal of a joint application for participation in HCD Homekey+ Grant Program with Up Holdings California, LLC and UP Mercy Village LP for an amount not to exceed $30,000,000. RECOMMENDATION City Council - Adopt a motion: A. Adopting Resolution 2025-06, a Resolution of the City Council of the City of Merced, California, authorizing a joint application and participation in the Homekey+ Program and authorizing the City Manager to Execute the Standard Agreement and any related documents; and, B. Authorizing the City Manager to execute the Standard Agreements if selected for such funding and any amendments thereto, and any related do...
Attachments: 1. Homekey+ NOFA, 2. City Council Resolution 2025-06
Report Prepared by: Leah Brown, Management Analyst, Development Services Department

Title
SUBJECT: Adoption of a Resolution Authorizing the Submittal of a Joint Application and Participation in the State of California Housing and Community Development (HCD) Homekey+ Grant Program with Up Holdings California, LLC and UP Mercy Village LP for an Amount not to Exceed $30,000,000

REPORT IN BRIEF
Considers adopting a resolution authorizing the submittal of a joint application for participation in HCD Homekey+ Grant Program with Up Holdings California, LLC and UP Mercy Village LP for an amount not to exceed $30,000,000.

RECOMMENDATION
City Council - Adopt a motion:

A. Adopting Resolution 2025-06, a Resolution of the City Council of the City of Merced, California, authorizing a joint application and participation in the Homekey+ Program and authorizing the City Manager to Execute the Standard Agreement and any related documents; and,

B. Authorizing the 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+ Grant Program; and,

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 2024-2025 Adopted Budget and the City Council's Pro-Housing Policies.

DISCUSSION
The State of California HCD has issued a Notice of Funding Available (NOFA) for funding under the Homekey+ Program. A copy of the NOFA is attached. This funding program is highly competitive, and awards are awarded based on a first come basis. Applications are being accepted until the funds are exhausted. Awards are expected to ...

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