File #: 20-418    Version: 1 Name:
Type: Public Hearing Item Status: Passed
File created: 7/29/2020 In control: City Council/Public Finance and Economic Development Authority/Parking Authority/Successor Agency to the Redevelopment Agency
On agenda: 9/8/2020 Final action: 9/8/2020
Title: SUBJECT: Continued Public Hearing to Allow Interested Persons to be Heard Prior to the Submittal of an Application to the United States Department of Housing and Urban Development (HUD) in the Amount of $2,000,000 for Financing Through the Section 108 Loan Guarantee Program for the Childs Court Apartments - Childs and B Street Transit Oriented Development (TOD) Affordable Housing Project and Adopting City Council Resolution 2020-49 Approving a Conditional Commitment of HUD 108 Loan Guarantee Funds, Authorizing the Loan Guarantee Application Submittal to HUD, and Authorizing the City Manager or the Assistant City Manager to Execute and Make Minor Modifications as Necessary on Behalf of the City of Merced REPORT IN BRIEF A continued Public Hearing to allow interested persons to be heard prior to the submittal of an application to the United States Department of Housing and Urban Development (HUD) in the amount of $2,000,000 for financing through the Section 108 Loan Guarantee Program f...
Attachments: 1. Draft HUD 108 Loan Guarantee Package, 2. Resolution 2020-49

Report Prepared by: Scott McBride, Director of Development Services, Housing Division/Department of Development Services

Title
SUBJECT: Continued Public Hearing to Allow Interested Persons to be Heard Prior to the Submittal of an Application to the United States Department of Housing and Urban Development (HUD) in the Amount of $2,000,000 for Financing Through the Section 108 Loan Guarantee Program for the Childs Court Apartments - Childs and B Street Transit Oriented Development (TOD) Affordable Housing Project and Adopting City Council Resolution 2020-49 Approving a Conditional Commitment of HUD 108 Loan Guarantee Funds, Authorizing the Loan Guarantee Application Submittal to HUD, and Authorizing the City Manager or the Assistant City Manager to Execute and Make Minor Modifications as Necessary on Behalf of the City of Merced

REPORT IN BRIEF
A continued Public Hearing to allow interested persons to be heard prior to the submittal of an application to the United States Department of Housing and Urban Development (HUD) in the amount of $2,000,000 for financing through the Section 108 Loan Guarantee Program for the Childs Court Apartments - Childs and B Street Affordable Housing Transit Oriented Development (TOD) Project and Adopting City Council Resolution 2020-49 Approving a conditional commitment of HUD 108 Loan Guarantee Funds, Authorizing the Loan Guarantee Application Submittal, and authorizing the City Manager or the Assistant City Manager to execute and make minor modifications as necessary on behalf of the City of Merced.

RECOMMENDATION
City Council - Adopt a motion:

A. Recommending that the City Council conduct the Public Hearing, receive any testimony given; and,

B. Adopting Resolution 2020-49, a Resolution of the City Council of the City of Merced, California, approving a conditional commitment of HUD 108 Loan Guarantee Funds for the Childs and B Street Transit-Oriented Development Affordable Housing Project; and,

C. Authorizing the Loan...

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