HOUSING AUTHORITY OF THE CITY OF SANTA ROSA
Council Chamber, City Hall
100 Santa Rosa Avenue, Santa Rosa, California
AUGUST 22, 2011
1:30 p.m.
AGENDA
1. CALL TO ORDER
2. ROLL CALL
3. PUBLIC APPEARANCES / PUBLIC COMMENTS: Except for public hearing agenda items, the public may comment on all other agenda items and on items not on the agenda within the jurisdiction of the Housing Authority during this period. The public may comment on public hearing agenda items when the hearing is opened. Each speaker is allowed three minutes.
4. ACKNOWLEDGMENTS AND ANNOUNCEMENTS
5. STATEMENTS OF ABSTENTION
6. APPROVAL OF MINUTES FOR MEETINGS HELD MARCH 28 AND JUNE 13, 2011
7. CHAIRMAN / COMMISSIONER REPORTS
8. COMMITTEE REPORTS
9. CONSENT ITEMS:
9.1 REQUEST FROM CALIFORNIA HUMAN DEVELOPMENT FOR A FURTHER ADVANCE IN THE AMOUNT OF $27,151 FOR THE REHABILITATION OF THE PROPERTY LOCATED AT 3555 SONOMA HIGHWAY (STONEHOUSE INN)
BACKGROUND: In September 2010, California Human Development (CHD) acquired the property located at 3555 Sonoma Highway, known as the Stonehouse Inn, for $1 million with a first mortgage in the amount of $800,000 ($585,765 for acquisition plus $204,235 for construction) from Clearinghouse Community Development Financial Institution (CDFI), a $200,000 loan from the Housing Authority, donor contributions in the amount of $140,000, and approximately $72,000 of its own funds. Once rehabilitation of the property is complete, CHD plans 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 recently received City approval of their improvement plans, which, as a result of additional improvements required by the City, has increased the project costs. CHD has identified a budget gap of approximately $75,000 to complete the rehabilitation of the project and is requesting additional funding from the Housing Authority to help fill that gap. On
August 2, 2011, Council approved the transfer of approximately $27,151 in residual mortgage revenue bond funds, which can be used for affordable housing purposes. The Stonehouse project was identified as a possible recipient of the bond funds.
RECOMMENDATION: The Department of Economic Development and Housing recommends that the Housing Authority, by resolution, approve a further advance in the amount of $27,151 to California Human Development for the rehabilitation of 3555 Sonoma Highway, known as the Stonehouse Inn, for use as a residential drug and/or alcohol treatment program for women.
9.2 REQUEST TO APPROVE AN EXTENSION OF THE CONSTRUCTION COMMENCEMENT AND COMPLETION DATES FOR CATALINA TOWNHOMES LOCATED AT 2740 DUTTON MEADOW
BACKGROUND: In July 2007, the Housing Authority approved a land acquisition and predevelopment loan for Dutton Village, which consists of Amorosa Village I – 97 multifamily rental units, Amorosa Village II – 53 multifamily rental units, and Catalina Homes – 60 self-help ownership units (Project), the subject of this request. To assist with the Project, the Housing Authority received a $5,000,000 loan from California Housing Finance Agency’s (CalHFA) Residential Development Loan Program (RDLP); the funds were then lent to Burbank Housing Development Corporation (BHDC) for the Project. As a result of the current housing market and the need to pursue additional funding sources for the Project, BHDC is requesting an extension of the construction commencement and completion dates.
RECOMMENDATION: The Department of Economic Development and Housing recommends that the Housing Authority, by resolution, approve extension of the construction commencement and completion dates for Catalina Townhomes, located at 2740 Dutton Meadow, with new deadlines as follows:
· Phase I Construction Commencement – August 31, 2012
· Phase I Construction Completion – October 31, 2013
· Phase II Construction Commencement – February 28, 2013
· Phase II Construction Completion – January 31, 2014
10. SCHEDULED ITEMS:
10.1 REQUEST FROM YWCA TO EXTEND THE TERM OF THE HOUSING AUTHORITY LOAN (8030-6225-90) TO SEPTEMBER 4, 2016
BACKGROUND: Young Women’s Christian Association of Sonoma County (YWCA) requests approval to extend the term of its loan in the principal amount of $35,000 and $21,000 in accrued interest for its property which serves as a shelter for victims of abuse. In October 1991, the Housing Authority provided YWCA with a loan in the amount of $35,000 for construction of a 600 square foot office addition to its existing facility. The terms of the loan are three percent (3%) simple interest deferred and due in full on September 4, 2011. YWCA is not currently in a position to repay the balance due and is requesting a five-year extension of the term from September 4, 2011 to September 4, 2016, with the proviso that the 3% interest owed on the $35,000 ($1,050) would be paid annually during that period.
RECOMMENDATION: The Department of Economic Development and Housing recommends that the Housing Authority, by resolution, approve an extension of the term of Loan No. 8030‑6225‑90 from September 4, 2011 to September 4, 2016, with payments at 3% per annum during that period, and deferring payment of the balance of any outstanding principal and deferred interest to September 4, 2016.
10.2 AFFORDABLE HOUSING LOAN APPLICATIONS – HUMBOLDT APARTMENTS (499 HUMBOLDT STREET); NEW RAILROAD SQUARE AFFORDABLE HOUSING-CANNERS APARTMENTS (3 WEST THIRD STREET); AND TIERRA SPRINGS APARTMENTS (766 KAWANA SPRINGS ROAD)
BACKGROUND: The Housing Authority has previously committed funds to assist four affordable housing projects that are currently in various stages of predevelopment:
· Humboldt Apartments
· New Railroad Square Affordable Housing
· Tierra Springs Apartments (formerly Kawana Springs Family
Apartments)
· Lantana Place
Three of the projects (Humboldt Apartments, Tierra Springs, and Lantana Place) have received City entitlements. All four projects need additional funding commitments in order to proceed with development and begin construction. Of the four projects listed above, three Affordable Housing Loan Applications have been received:
· Humboldt Apartments
· New Railroad Square Affordable Housing (now known as Canners Apartments)
· Tierra Springs Apartments
Humboldt Apartments and Tierra Springs are entitled and ready to proceed if their funding requests are approved. New Railroad Square Affordable Housing is a catalyst for Phase 1 of an overall mixed-use development; however more time is needed to attain all the necessary financing and entitlements in order to proceed. Sufficient funds are not available to fund all three projects at this time.
RECOMMENDATION: The Department of Economic Development and Housing recommends that the Housing Authority review three Affordable Housing Loan applications and approve the following:
1. by resolution, a further advance in the amount of $1,999,400 to assist Humboldt Apartments, LP with predevelopment and development costs for Humboldt Apartments located at 499 Humboldt Street;
2. continue to set aside funds in the amount of $5,000,000 for possible future commitment to New Railroad Square Affordable Housing-Canners Apartments; and
3. no further commitment of funding to Tierra Springs Apartments at this time.
11. COMMUNICATION ITEMS:
11.1 MONTHLY ACTIVITIES REPORT
12. ADJOURMENT
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