REPORT TO HOUSING AND HUMAN SERVICES COMMISSION
SUBJECT
Title
Housing Mitigation Fund Affordable Housing Project Funding Recommendations
Report
BACKGROUND
At its February meeting, the commission reviewed a draft Request for Proposals (RFP) for affordable housing projects to be funded with Housing Mitigation (HM) funds. That RFP was published shortly after the meeting and two proposals were received by the deadline. A number of prospective applicants attended the pre-proposal workshop and expressed interest in the funding opportunity, but did not have projects ready for funding in time for the proposal deadline. However, several prospective applicants indicated they would continue to seek opportunities (sites) and submit proposals when they could meet the readiness criteria in the RFP. The two proposals received are described briefly below, with the results of the staff review and proposed funding recommendations.
Staff's recommendations are advisory to the commission. The commission's funding recommendations will be incorporated into the proposed Projects Budget for the Housing Mitigation Fund, which will be considered by Council for adoption during its budget hearings in May and June.
DISCUSSION
MidPen Housing, a non-profit housing developer and operator located in Foster City, submitted two proposals for HM funding:
1. A request for $1 million for rehabilitation of 35 affordable family apartments in north Sunnyvale known as Morse Court.
2. A request for $3 million for acquisition of a 16-unit apartment building built in the late 1950's on Grand Fir Avenue in Sunnyvale.
Proposal #1 was complete and determined eligible for scoring and possible funding. The scoring sheet for Proposal #1 is provided as Attachment 1. MidPen Housing has requested that the City postpone evaluation of Proposal #2 until it can complete critical steps in the current property negotiations, and make any necessary updates or revisions to the proposal.
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