Share to Facebook Share to Twitter Bookmark and Share
File #: 19-046    Version: 1 Name:
Type: Report Item Status: Passed
File created: 1/17/2019 In control: City Council/Public Finance and Economic Development Authority/Parking Authority
On agenda: 2/4/2019 Final action: 2/4/2019
Title: SUBJECT: Adoption of Resolution Allowing the Submittal of a Joint Application with the Richman Group of California Development Company, LLC (Richman Group), and the Central Valley Coalition for Affordable Housing (CVCAH) for the Affordable Housing and Sustainable Communities (AHSC) Program to Obtain Loan and Grant Funding for the Construction of a 119 Unit Affordable Housing Project at 1137 B Street in Merced, California and Approval and Execution of an Enforceable Funding Commitment Agreement, a First Amendment to the Exclusive Negotiating Agreement, and Memorandum of Understanding Between the City, CVCAH and the Richman Group, and Certification of the National Environmental and Protection Agency Environmental Assessment REPORT IN BRIEF Considers Resolution allowing the submittal of a joint application with the Richman Group of California Development Company, LLC (Richman Group), and the Central Valley Coalition for Affordable Housing (CVCAH) for the Affordable Housing and Sustaina...
Sponsors: Development Services Department, Mark Hamilton
Attachments: 1. Location Map.pdf, 2. Site Plan and Elevations.pdf, 3. City Enforcement Funding Commitment Agreement.pdf, 4. First Amendment to the Exclusive Negotiating Agreement.pdf, 5. Memorandum of Understanding.pdf, 6. AHSC Resolution.pdf, 7. Modified SP #429 - 1137 B St (Apartment Complex 119 Units).pdf, 8. Childs & B - Project Scope.pdf, 9. Map & Description - Off-Sitel Public Improvements.pdf, 10. Merced Co PW Dept Executed Ground Lease Agreement - 06-04-2018.pdf, 11. Article 34 Letter.pdf, 12. HUD Part-58 Environmental Assessment with Exhibits 1-7.pdf, 13. Childs B Street Presentation - Updated December 2018.pdf
Report Prepared by: Mark Hamilton, Housing Program Supervisor, Housing Division, Department of Development Services

Title
SUBJECT: Adoption of Resolution Allowing the Submittal of a Joint Application with the Richman Group of California Development Company, LLC (Richman Group), and the Central Valley Coalition for Affordable Housing (CVCAH) for the Affordable Housing and Sustainable Communities (AHSC) Program to Obtain Loan and Grant Funding for the Construction of a 119 Unit Affordable Housing Project at 1137 B Street in Merced, California and Approval and Execution of an Enforceable Funding Commitment Agreement, a First Amendment to the Exclusive Negotiating Agreement, and Memorandum of Understanding Between the City, CVCAH and the Richman Group, and Certification of the National Environmental and Protection Agency Environmental Assessment

REPORT IN BRIEF
Considers Resolution allowing the submittal of a joint application with the Richman Group of California Development Company, LLC (Richman Group), and the Central Valley Coalition for Affordable Housing (CVCAH) for the Affordable Housing and Sustainable Communities (AHSC) Program to obtain loan and grant funding for the construction of a 119 unit Affordable Housing Project at 1137 B Street in Merced, California and approval and execution of an Enforceable Funding Commitment Agreement, a First Amendment to the Exclusive Negotiating Agreement, and Memorandum of Understanding between the City, CVCAH and the Richman Group, and Certification of the National Environmental and Protection Agency Environmental Assessment.

RECOMMENDATION
City Council - Adopt a motion:

A. Adopting Resolution 2019-06, a Resolution of the City Council of the City of Merced, California, authorizing application for the Affordable Housing and Sustainable Communities Program; and,

B. Approving the enforceable funding commitment agreement between the City of Merced, Central Valley Coalition for Affordable Housing, and Richman Group of...

Click here for full text