ADMINISTRATIVE REPORT
MEETING DATE: July 9, 2025 AGENDA CATEGORY: Consent - PSVS TO: Honorable Mayor and City Council
FROM: Jennifer M. Byers, Economic & Community Development Director DATE: May 21, 2025
SUBJECT: Amendment No. 1 to Agreement No. 2024-285 with Auburn Oaks I, LP (to include language requested by California Department of Housing & Community Development) . for grant funding to be used for the development of affordable housing rental projects(Ward 3)
RECOMMENDATION:
Staff recommends approval of the amendment.
BACKGROUND:
On October 23, 2024, the City of Bakersfield and Auburn Oaks I, LP (Developer) entered into Agreement No. 2024-285 to assist the Developer with the cost of construction of 60 new affordable housing units located at 6201 Auburn Street, Bakersfield, California 93306 (Project).
Pursuant to the terms of Agreement No. 2024-285, the City agreed to loan the Developer a total award of $2,960,477.00 from Federal American Rescue Plan Act (ARPA), California Department of Housing and Community Development Local Housing Trust Fund (LHTF), with the required match from Public Safety Vital Services (PSVS) and the City’s Affordable Housing Trust Fund (AHTF) in the following amounts:
ARPA $1,200,000.00
LHTF $ 630,238.50
PSVS $ 630,238.50
AHTF $ 500,000.00
On March 17, 2025, HCD requested the Agreement clearly identify the LHTF funding source and the required City matching funds source. At this time, staff is requesting an amendment to Agreement No. 2024-285 to clarify the two (2) distinct funding sources between LHTF and the City’s PSVS matching funds.
The Project Scope of Work (Exhibit B) has been updated as requested by HCD with the specific Sources of Funds.
FISCAL IMPACT:
PSVS resources were allocated as part of the FY 2022-23 budget and included in the City’s Affordable Housing Trust Fund 2023 N otice of Funding Availability. The A mendment is not requesting additional resources than previously approved.
COUNCIL GOAL:
Safety and Resilience
WARD: 3
ATTACHMENT:
Amendment