Legislative Public Meetings

Share to Facebook Share to Twitter Bookmark and Share
File #: 21-0528   
Type: Report to Council Status: Passed
Meeting Body: City Council
On agenda: 10/12/2021
Title: Approve Transfer from the Housing Mitigation Fund to the General Fund Related to Five Parcels Purchased with General Funds for the Downtown Specific Plan Area Block 15 Development for $11,245,263 and Approve Budget Modification No. 9 in the Amount of $11,245,263
Attachments: 1. 2017 Appraisal, 2. 2020 Appraisal, 3. Supplemental Letter of the 2020 Appraisal Report
REPORT TO COUNCIL

SUBJECT
Title
Approve Transfer from the Housing Mitigation Fund to the General Fund Related to Five Parcels Purchased with General Funds for the Downtown Specific Plan Area Block 15 Development for $11,245,263 and Approve Budget Modification No. 9 in the Amount of $11,245,263

Report
BACKGROUND
In July 2015, the City Council authorized the purchase of four additional parcels in "Block 15" of the Downtown Specific Plan area for $4.4 million. Two other properties were acquired with funds from the General Fund, one in 1997 and one in 2005. The purchases increased the City's ownership of the block to approximately 1.57 acres. In December 2015 the Council held a study session and provided direction on the future use of approximately 1.44 acres of City owned property in Block 15 for affordable housing, with an emphasis on projects that could provide at least a portion of the housing for special needs households (e.g., seniors, disabled adults).

Among the six-city-owned parcels, five were purchased with funds from the City's General Fund. The property located at 388 Charles Street was purchased with funds from the Housing Mitigation Fund (HMF) in 2005. For the Housing Division to enable the start of the development, the General Fund will transfer the five parcels to the HMF, so that all parcels are kept in the same fund and the General Fund is compensated appropriately.

Location:
365 S. Mathilda Avenue and 402 Charles Street (APN: 135-13-045),
396 Charles Street (APN: 165-13-046),
397 S. Mathilda Avenue (APN: 165-13-068),
403 S. Mathilda Avenue (APN: 165-13-069),
406 Charles Street and 407 S. Mathilda Avenue (APN: 165-13-073), and
388 Charles Street, 365 and 377-9 S. Mathilda Avenue (APN: 165-13-074)

In April 2016 a competitive Request for Proposals (RFP) was issued by the City and Related California was selected as the affordable housing developer, and a Disposition and Development Agreement was executed in January 2019. In April 2020, the Plann...

Click here for full text