ADMINISTRATIVE REPORT
MEETING DATE: July 23, 2025 AGENDA CATEGORY: Consent - Agreements TO: Honorable Mayor and City Council
FROM: Jennifer M. Byers, Economic & Community Development Director DATE: July 9, 2025
SUBJECT: Amendment No. 1 to Agreement No. 2024-121 with Renaissance at Baker LP (to include language requested by California Department of Housing & Community Development (HCD)) for grant funding to be used for the development of extremely low to low-income affordable housing rental projects. (Ward 2)
RECOMMENDATION:
Staff recommends approval of the amendment.
BACKGROUND:
On May 22, 2024, the City of Bakersfield and Renaissance at Baker LP (Developer) entered into Agreement No. 2024-121 to assist with the cost of construction of 85 new affordable housing units located at 1001 Baker Street, Bakersfield, California 93301.
Pursuant to the terms of Agreement No. 2024-121, the City agreed to loan the Developer a total award of $2,056,205 from California Department of Housing and Community Development Local Housing Trust Fund (LHTF), with the required match from local Public Safety Vital Services (PSVS) funding as part of the City’s Affordable Housing Trust Fund (AHTF), as shown below:
LHTF $1,028,102.50
PSVS $1,028,102.50
On March 19, 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. 2024-121 to clarify the two (2) distinct funding sources between LHTF and the City’s PSVS matching funds. The Scope of Project (Exhibit B) has been updated as requested by HCD with the specific sources of funds.
FISCAL IMPACT:
No fiscal impact. PSVS resources were allocated as part of the FY 2021-22 budget and included in the City’s Affordable Housing Trust Fund 2022 Notice of Funding Availability. The Amendment is not requesting additional resources than previously approved.
COUNCIL GOAL:
Safety and Resilience
WARD: 2
ATTACHMENT:
Amendment