ITEM 13.0
CONSIDERATION AND POSSIBLE ACTION TO ADOPT RESOLUTION 25-11
APPROVING THE COMMITMENT OF HOME PARTNERSHIP COMMUNITY HOUSING
DEVELOPMENT ORGANIZATION (CHDO) FUNDS AND HOME PARTNERSHIP
AMERICAN RESCUE PLAN (HOME -ARP) FUNDS TO A POTENTIAL PERMANENT SUPPORTIVE HOUSING PROJECT LOCATED AT 15804 LAKEWOOD BOULEVARD;
CERTIFYING WAKELAND OPPORTUNITIES FOR AFFORDABLE HOUSING AS A BELLFLOWER CHDO; AND AUTHORIZING THE CITY MANAGER TO EXECUTE FUTURE
FUNDING AGREEMENTS AND OTHER DOCUMENTS RELATED TO THESE FUNDS AND THIS POTENTIAL PROJECT.
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Economic Development
BACKGROUND
BACKGROUND
15% of City's HOME Fund allocation must be set -aside for a Community Housing Development Organization (CHDO) project.
CHDO Project is the development of affordable housing
$2,056,204 in CHDO funds has been accumulated as of the most recent Annual Action Plan City received HOME -ARP funds in 2022 in the amount of $1,301,749 HOME -ARP Plan approved by Council in March 2023 and by HUD in May 2023 $1,106,487 for development of affordable rental housing $195,262 (15%) for admin and planning of the development of affordable rental housing Spending deadline of September 2030
The last CHDO project with the City was the Habitat for Humanity project on Ramona Street (6 home -ownership units) that was complete in FY 2017-18 b CN W�
Economic Development
BACKGROUND
Wakeland is a nonprofit affordable housing developer
Founded in 1998
Working relationship with Mercy House since 2012, the City's service provider at the New Hope Shelter
Extensive Permanent Supportive Housing Development experience CHDO experience in other jurisdictions
67 projects
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Economic Development
La Entrada — 64 units - Riverside, CA
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The Grove — 81 units -Vista, CA
Talmadge Gateway — 60 units - Riverside, CA The Quincy — 54 units — Los Angeles, CA
DISCUSSION
DISCUSSION
Working with Wakeland for 2 Years
Were working on a site on Artesia Blvd. but had
entitlement timing issues.
Now identified 15804 Lakewood Blvd.
28,565 square feet
Just signed a purchase and sale agreement
economic ueveiopment
DISCUSSION
Approximately 50 one -bedroom units
Affordable permanent supportive housing units w/onsite wrap -around services Estimated to be a $30M project w/annual operating costs of $600,000 City's potential funding is only around 10% of the total project cost b4folveh..,f
Economic Development
FUNDING COMMITMENT
CHDO CERTIFICATION
CITY MANAGER AUTHORIZATIONS
DISCUSSION -FUNDING COMMITMENT
Two City Funding Sources
HOME-CHDO Funds - $2,056,204
HOME -ARP Funds - $1,106,485
36-Month Commitment
1$391629689
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Provides time forWakeland to apply to various funding sources Currently proposed as a 55-Year residual receipts loan with 3% simple interest City is one of three or four funding sources
County of Los Angeles
Tax Credits
Potentially State of California
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Economic Development
DISCUSSION - CHDO CERTIFICATION
CHDO Certification needed to receive HOME-CHDO funds
Wakeland's CHDO entityWakeland Opportunities forAffordable Housing (WOAH) Avant Garde reviewed WOAH's CHDO application
WOAH satisfies all HUD criteria as indicated in the staff report and attached CHDO Checklist
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DISCUSSION -AUTHORIZATIONS
Authorization to provide Wakeland with a ZoningVerification letter Specific to Wakeland's LA County Funding application to verify the General Plan designation and Zoning of the proposed site.
Authorization to enter into Funding Agreements for HOME-CHDO Funds and HOME -ARP Funds when appropriate
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Economic Development
RECOMMENDATION
RECOMMENDATION
It is recommended that the City Council consider:
ADOPTING RESOLUTION NO. 25-1 1 APPROVING THE COMMITMENT OF $2,056,204 OF HOME-CHDO FUNDS AND $1,106,487 OF HOME -ARP FUNDS TO A POTENTIAL (FUTURE) PERMANENT SUPPORTIVE HOUSING PROJECT AT 15804 LAKEWOOD BOULEVARD; CERTIFY WAKELAND OPPORTUNITIES FOR
AFFORDABLE HOUSING (WOAH) AS A BELLFLOWER CHDO AS IT RELATES TO THE POTENTIAL PERMANENT SUPPORTIVE HOUSING PROJECT; AUTHORIZE THE
CITY MANAGER TO PROVIDE WOAH A ZONING VERIFICATION LETTER, IN A
FORM APPROVED BY THE CITY ATTORNEY AND EXECUTE FUTURE HOME-CHDO
AND HOME -ARP FUNDING AGREEMENTS ONCE CONDITIONS ARE MET TO IMPLEMENT THE POTENTIAL PERMANENT SUPPORTIVE HOUSING PROJECT; OR ALTERNATIVELY, DISCUSS AND TAKE ANOTHER ACTION RELATED TO THIS ITEM b I A fv
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Economic Development