HOUSING AUTHORITY

OF THE CITY OF SANTA ROSA 

NOTICE of SPECIAL MEETING 

THURSDAY, JULY 1, 1:30 P.M.

CONFERENCE ROOM 1, CITY HALL ANNEX

90 SANTA ROSA AVENUE, SANTA ROSA 

NOTICE IS HEREBY GIVEN that the Housing Authority of the City of Santa Rosa will hold a Special Meeting on Thursday, July 1, 2010, at 1:30 p.m. at 90 Santa Rosa Avenue, Santa Rosa, California.  The purpose of the meeting is to discuss the items listed below.  The Agenda for the meeting is: 

A.         STUDY SESSION : REVIEW OF FUNDING AVAILABLE FOR AFFORDABLE HOUSING IN FY 2010/2011 

            BACKGROUND:  Staff will provide an overview of the FY 2010/2011 budget for affordable housing and identify projects that may request financial assistance. 

AGENDA 

1.                  CALL TO ORDER AND ROLL CALL           

2.         CITIZEN PUBLIC APPEARANCES (PUBLIC COMMENTS WILL BE LIMITED TO TOPICS OF THE SPECIAL MEETING) 

3.         STATEMENTS OF ABSTENTION 

4.       REQUEST FROM CALIFORNIA HUMAN DEVELOPMENT  FOR A LOAN IN THE AMOUNT OF $200,000 FOR THE ACQUISITION OF THE PROPERTY LOCATED AT 3555 SONOMA HIGHWAY (STONEHOUSE INN) 

BACKGROUND:  California Human Development (CHD) is currently in contract to purchase the property located at 3555 Sonoma Highway, known as the Stonehouse Inn.  The purchase price of $1 million ($1.1 million less a $100,000 credit from the seller) is supported by an appraisal with a stated value of $1.2 million. CHD is proposing to relocate its existing Athena House program, a 27-bed residential drug and/or alcohol treatment program and a six-bed sober living house for women, which currently operates in four (4) separate locations. The Stonehouse property will allow CHD to consolidate its Athena House program into one facility and serve additional clients by providing up to forty (40) beds.  CHD requests approval of a loan in the amount of $200,000 for the acquisition of 3555 Sonoma Highway. 

RECOMMENDATION:  The Department of Economic Development and Housing recommends that the Housing Authority, by resolution, approve a loan in the amount of $200,000 to California Human Development for the acquisition of 3555 Sonoma Highway, known as the Stonehouse Inn, for use as a residential drug and/or alcohol treatment program for women. 

5.       LOAN REQUEST FROM RIVERSIDE CHARITABLE CORPORATION AND USA PROPERTIES FUND, INC. FOR A FURTHER ADVANCE OF $795,911 FOR 766 KAWANA SPRINGS 

BACKGROUND:  USA Properties Fund, Inc. and Riverside Charitable Corporation are acquiring a 2.04 acre parcel located at 766 Kawana Springs Road in southeast Santa Rosa (Project).  The site will be developed with 42 units, 41 of which are targeted to households at 30%, 50% and 60% of area median income and one unrestricted manager’s unit.  To date, the Housing Authority has provided $854,089; the requested conditional reservation of funds would result in a total loan of $1,650,000. 

RECOMMENDATION:  The Department of Economic Development and Housing recommends that the Housing Authority, by resolution, approve a conditional reservation of funds in the amount of $795,911 to assist Riverside Charitable Corporation and USA Properties Funds, Inc. with the acquisition of 766 Kawana Springs for the development of Kawana Springs. 

6.       LOAN REQUEST FROM PETALUMA ECUMENICAL PROPERTIES FOR A FURTHER ADVANCE OF $250,000 FOR ACACIA LANE SENIOR APARTMENTS – 657 ACACIA LANE 

          BACKGROUND:  Petaluma Ecumenical Properties (PEP) is developing an affordable, senior, rental complex at 657 Acacia Lane (formerly addressed as 4711 Sonoma Highway) in northeast Santa Rosa. The complex will consist of 44 units, 43 of which are targeted to households at 30% and 50% of area median income and one unrestricted manager’s unit. The project has been awarded $5,792,700 in HUD 202 financing. To date, the Housing Authority has provided $2,241,722; the requested further advance would result in a total loan of $2,491,722. 

RECOMMENDATION:  The Department of Economic Development and Housing recommends that the Housing Authority, by resolution, approve a further advance in the amount of $250,000 to assist Petaluma Ecumenical Properties with the development of Acacia Lane Senior Apartments at 657 Acacia Lane. 

7.       COMMUNICATION ITEM:   Economic Development and Housing Memorandum dated June 23, 2010 re: Affordable Housing Inventory 

8.         ADJOURNMENT OF HOUSING AUTHORITY SPECIAL MEETING 

No other business will be considered at this Special Meeting. 

                Dated:      June , 28 2010                   Susan Trinkler, Administrative Secretary