TITLE:
title
APPROVE A TOTAL FUNDING COMMITMENT OF $1,500,000 OF HOME INVESTMENT PARTNERSHIP FUNDS TO JAMBOREE HOUSING CORPORATION FOR THE DEVELOPMENT OF THE COSTA MESA SENIOR PROJECT AND TO AMERICAN FAMILY HOUSING FOR AVON RIVER APARTMENTS LOCATED AT 1400 BRISTOL AVENUE IN COSTA MESA
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DEPARTMENT: ECONOMIC AND DEVELOPMENT SERVICES DEPARTMENT/HOUSING AND COMMUNITY DEVELOPMENT
PRESENTED BY: CARRIE TAI, AICP, ECONOMIC AND DEVELOPMENT SERVICES DIRECTOR
CONTACT INFORMATION: CARRIE TAI, AICP, ECONOMIC AND DEVELOPMENT SERVICES DIRECTOR, 714-754-5270; CARRIE.TAI@COSTAMESACA.GOV
RECOMMENDATION:
recommendation
Staff recommends the City Council:
1. Approve the recommended allocation of $750,000 to Jamboree Housing Corporation for the development of the Costa Mesa Senior project from HOME Investment Partnerships Program funds (HOME) contingent upon the completion of a National Environmental Protection Act (NEPA) environmental review and HOME Subsidy Layering Review.
2. Approve the recommended allocation of $750,000 to American Family Housing towards the construction of the Avon River Apartments, contingent upon the completion of a NEPA environmental review and HOME Subsidy Layering Review.
3. Authorize the City Manager to execute funding commitment letters with Jamboree Housing Corporation and American Family Housing for $750,000 each in affordable housing funds for development of the above-mentioned projects.
4. Authorize revenue and expense appropriations, respectively, each in the amount of $750,000 (for a total of $1,500,000) for both above-mentioned projects.
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BACKGROUND:
HOME Investment Partnerships Program
The City of Costa Mesa is a recipient of two U.S. Department of Housing and Urban Development (HUD) grant program funds, the Community Block Grant (CDBG) Program and the HOME Investment Partnerships Program (HOME).
The Housing and Community Development Division (HCD) of the Development Services Department is responsible for administering the City'...
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