File #: ID#24-583    Version: 1 Name:
Type: Minute Order Status: Agenda Ready
File created: 10/1/2024 In control: Housing and Land Use Committee
On agenda: 11/5/2024 Final action:
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
Attachments: 1. HLUC Report - PLHA and PIP Funds Allocation to HACM, 2. PPT - PLHA & PIP funds to HACM - HLUC

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.