Business Services
2060 Challenger Drive
Alameda, CA 94501
Phone 510.337.7000
www.alamedaunified.org
November 26, 2024
City of Alameda, Director of Finance
2263 Santa Clara Ave, Room 220
Alameda, CA 94501
RE: Request to the Successor Agency to the Former Community Improvement Commission of the City of Alameda to Approve a Development List of an Affordable Housing Project and Funding Request for such Project
The Alameda Unified School District ("AUSD") is a party to a 1991 pass-through agreement ("Pass- Through Agreement") with the Successor Agency to the former Community Improvement Commission of the City of Alameda ("Successor Agency"). The Pass-Through Agreement provides for the establishment of a District Housing Fund to be used for eligible affordable housing purposes identified by AUSD. This letter includes the annual AUSD request to the Successor Agency to conduct a noticed public hearing concerning and approving the attached Development List of Affordable Housing Projects and Funding Requests for such projects.
In 2018, AUSD entered a Memorandum of Understanding ("MOU") with the Housing Authority of the City of Alameda ("AHA") whereby AHA agreed to assist AUSD with its obligations under the Pass- Through Agreement to use funds to increase the supply of low-income housing in a manner that addresses the housing needs of the qualifying employees. Under the terms of the MOU, AHA makes periodic funding requests to AUSD to fund eligible affordable housing projects consistent with the Pass-Through Agreement and MOU. AUSD then submits an annual funding request to the Successor Agency pursuant to the Pass-Through Agreement. Once a funding request is approved, funds available under the Pass-Through Agreement are authorized to be transferred directly to AHA (per MOU Section 6A).
AUSD is requesting that the Successor Agency, at a public hearing to be scheduled for January 2025, approve a Development List and Funding Request for the 2615 Eagle Avenue affordable housing project (called the Poplar). The 2615 Eagle Avenue project is located on approximately 1.05 acres on two adjacent parcels purchased by the AHA from AUSD. AUSD offered the parcels for sale and received a single response from AHA. The proposed project is a 50-unit housing development of one-, two- and three-bedroom units. This project is consistent with the Pass-Through Agreement, the Community adjacent
to and will benefit the former BWIP Project Area. AUSD requests approval for continued funding of 2615 Eagle Avenue, which is currently in the pre-development phase.
www.alamedaunified.org
The project serves households earning a maximum income of 80% of AMI and will set aside a certain number of units for eligible AUSD employees.
The FY 2025-26 Funding Request for 2615 Eagle Avenue is $1.0 million. This figure is less than the estimated maximum amount due under the pass-through agreement in FY 2025-26 of approximately Recognized Obligation (ROPS). In addition, $2 million is requested for FY 2026-27.
If the Successor Agency approves the Development List and Funding Request, and the City of Alameda finds that the Development List is consistent with the City's Housing Element, AUSD requests that the amounts identified in the request and allocated to the Successor Agency through the ROPS process be remitted directly to AHA for use on the 2615 Eagle Avenue affordable housing project, consistent with the terms of the MOU.
To ensure timely review and approval of the attached Development List and Funding Request prior to the submission of the FY 2025-26 ROPS to the County of Alameda Oversight Board and the State Department of Finance, we would appreciate it if your department made the necessary arrangements to schedule a public hearing by the Successor Agency, which could be conducted at a joint meeting with the Council on January 7, 2025.
Thank you very much for your attention to this matter.
Sincerely,
Shariq Khan
Assistant Superintendent of Business Services
Alameda Unified School District
c: Sylvia Martinez, Director of Housing Development, Housing Authority of the City of Alameda Exhibit 1: Alameda Unified School District Fiscal Year 25-26 and 26-27 Development List and Funding Request
www.alamedaunified.org
EXHIBIT 1
Alameda Unified School District, Fiscal Year 2025-2026 and 2026-27 Development List and Funding Request
Pursuant to Section 6 of the 1991 Pass-Through Agreement between Alameda Unified School District ("AUSD") and the Successor Agency to Community Improvement Commission of the City of Alameda, AUSD is submitting the below list of prioritized housing projects and programs for Fiscal Years 2025- 2026 and 2026-27.
Housing Projects and Programs (Development List)
2615 Eagle Avenue (The Poplar) Predevelopment funding for construction of a 50-unit affordable housing development by the Alameda Housing Authority. The development will be made affordable to households earning no more than 80% of Area Median Income. Up to 25% of units will be for supportive housing units if required by funding sources.
Funding Request
FY 2025-26 Request - It is requested that $1,000,000 be allocated from Redevelopment Tax Trust Funds, which is within the estimated District Housing Fund obligation for FY 2025-2026 of $2,525,683, be included by the Successor Agency on its Fiscal Year 2025-2026 Recognized Obligation Payment Scheduled (ROPS) for purposes of funding the 2615 Eagle Avenue Project.
FY 2026-27 Request - It is requested that $2,000,000 in Redevelopment Tax Trust Funds be included by the Successor Agency on its Fiscal Year 2026-2027 ROPS for purposes of funding the 2615 Eagle Avenue Project.
It is further requested that the Successor Agency transfer funds allocated through the ROPS to the Housing Authority of the City of Alameda following receipt to fund the 2615 Eagle Avenue Project consistent with the Memorandum of Understanding between the Housing Authority and the AUSD.