July 20, 2022
CITY OF COSTA MESA
P.0. BOX 1200, CALIFORNIA 92628-1200
FROM THE OFFICE OF THE CITY MANAGER
Mr. Kyle Paine
Community Development Partners
3416 Via Oporto, Suite 301
Newport Beach, CA 92663
Re: Preliminary Award by City of Costa Mesa of Local Match Funds for Homekey Program:
Acquisition and Rehabilitation of Motel 6 in Costa Mesa, California.
Dear Mr. Paine,
I am pleased to inform you that the City Council for the City of Costa Mesa ("City") has approved a total funding commitment of $5,000,000 to Community Development Partners ("Developer"), to provide local match funds for costs associated with the acquisition, rehabilitation, and conversion of the Motel 6 located at 2274 Newport Boulevard, Costa Mesa, CA 92627 ("Project"), into permanent supportive housing, subject to the terms of this letter.
Fund Source: American Rescue Plan Act (ARPA) funds
Amount: $3,500,000
Approval Date: November 16, 2021
Fund Source: HOME Investment Partnership Program (HOME) funds Amount: $1,500,000
Approval Date: July 19, 2022
A copy of the City Council's action approving this funding commitment is enclosed. The City's funding commitment is conditional on the parties reaching final and mutually agreeable terms of a funding and regulatory agreement setting forth each parties' rights and obligations.
Sincerely,
Lori Ann Farrell Harrison
City Manager
77 FAIR DRIVE
PHONE: (714) 754-5099 • FAX: (714) 754-5330 • www.costamesaca.gov ATTACHMENT 1
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