Title
Authorization to Enter into a Funding Agreement with the Housing Authority of the County of Monterey to Support the Acquisition of 1030 Fairview Avenue
Recommended Action
A motion recommending the City Council approve a Resolution authorizing the allocation of up to $1,330,263 in Permanent Local Housing Allocation (PLHA) funds to the Housing Authority of the County of Monterey (HACM) to support the acquisition of the 1030 Fairview Avenue (Property); and authorizing the allocation of up to $1,169,737 in Prohousing Incentive Program (PIP) funds to HACM to support the acquisition of the Property; and authorizing the City Manager, or designee, to negotiate and execute all applicable forms, conditional commitment letters, agreements, grant-related documents, and subsequent amendments as needed.