REPORT TO COUNCIL
SUBJECT
Title
Consider Conditional Funding Awards for $26 Million in Housing Mitigation Funds, Below Market Rate In-Lieu Funds, and Low Mod Income Housing Asset Funds for Development and/or Rehabilitation of Three Affordable Housing Developments
Report
SUMMARY OF COMMISSION ACTION
The Housing and Human Services Commission considered this item on January 22, 2020.
The Housing and Human Services Commission voted 7-0 in accordance with the Staff recommendation to recommend that Council approve conditional funding to the projects listed in Attachment 3.
PUBLIC CONTACT
Public contact was made by posting the Council agenda on the City's official-notice bulletin board outside City Hall, at the Sunnyvale Senior Center, Community Center and Department of Public Safety; and by making the agenda and report available at the Sunnyvale Public Library, the Office of the City Clerk and on the City's website.
ALTERNATIVES
1. Award conditional funding commitments to the projects listed in Attachment 3 to the report.
2. Award conditional funding commitments to the projects listed in Attachment 3 to the report with modifications.
3. Do not recommend any conditional funding commitments.
STAFF RECOMMENDATION
Recommendation
Alternative 1: Award conditional funding commitments to the projects listed in Attachment 3 to the report.
Due to the high quality and need of all three applications, and the opportunity to add these exceptional new developments to the City's affordable housing inventory, Staff is recommending the City Council award conditional funding recommendations to the three applicants, outlined in Attachment 3. Any funding awarded used for land acquisition does not mean the Council approves any specific development project, unit mix, or architectural design of the preliminary project shown in the application on the acquired land. Any project funded using these funds are still required to undergo environmental review, obtain planning entitleme...
Click here for full text