Title
FY 2025-2026 Multifamily Housing Application Award Recommendations
Recommended Action
A motion recommending that the City Council approve a Resolution authorizing:
1. The preliminary award of $8,460,220 in Local Housing Trust Fund, HOME Partnership Investment Program, HOME - Community Housing Development Organization Set-Aside, Permanent Local Housing Allocation, and Community Development Block Grant funding to the following applicants under the Fiscal Year 2025-2026 Notice of Funding Availability:
a. CHISPA Housing Inc. - Rehabilitation of 39 affordable multifamily units and 1 managers unit at the Vista de la Terraza apartment complex at 165-177 Carr Ave in the amount of $960,000
b. Milestone Housing - New construction of 87 affordable multifamily units and 1 manager unit at 200 Casentini Street in the amount of $3,837,000
c. CHISPA Housing Inc. - New construction of 35 affordable multifamily units and 1 manager unit at 376 E. Alvin Dr. - St. George Apartments - in the amount of $2,372,699
d. Republic Café - Rehabilitation and stabilization of the historic Republic Café hotel located at 37 Soledad in the amount of $1,290,521; and
2. The City Manager, or designee, to negotiate and execute all applicable forms, conditional commitments, agreements and related documents, grant-related documents, and subsequent amendments as needed.