RESOLUTION NO. 23-___
Resolution Of The City Council Of The City Of Emeryville Appropriating $734,329 From The Affordable Housing Impact Fee Fund (Fund 239) To The Operating Budget For Fiscal Year 2023-2024 For Loans To Developers (Account 239-88120) For The Nellie Hannon Gateway Project
WHEREAS, on January 19, 2021, the City Council adopted Resolution No. 21-01, authorizing the commitment of an additional $14,747,486 in permanent financing for a total amount of $16,747,486 in loan funds committed to support the development of affordable housing at 3600, 3610 and 3620 San Pablo Avenue, now known as the Nellie Hannon Gateway Project (the “Project”); and
WHEREAS, on March 2, 2021, the City Council adopted Resolution No. 21-13 approving the Affordable Housing Bond Administration and Expenditure Plan (the “Expenditure Plan”), which includes the City’s commitment of $14,747,486 of additional funding for the Project; and
WHEREAS, of the total $14,747,486 in funding allocated to the Project by the Expenditure Plan, $734,329 is proposed to be funded by the Affordable Housing Impact Fund (Fund 239); and
WHEREAS, on April 18, 2023, the City Council adopted Resolution 23-48 appropriating funds from the Affordable Housing Impact Fund to Fiscal Year 2023 in support of the Project; and
WHEREAS, on June 6, 2023, the City Council adopted Resolution 23-69 approving the Operating Budget for Fiscal Years 2023-2024 and 2024-2025; and WHEREAS, due to an oversight, the Operating Budget for Fiscal Years 2023-2024 and 2024-2025 did not include an appropriation of previously budgeted and committed, but unexpended, Affordable Housing Impact Funds; now, therefore be it RESOLVED, that the City Council of the City of Emeryville hereby appropriates $734,329 from the Affordable Housing Impact Fee Fund (Fund 239) to the Fiscal Year 2023-2024 Operating Budget for Loans To Developers (Account 239-88120) for the Nellie Hannon Gateway Project.
DocuSign Envelope ID: E08A709D-ED9D-4AAC-A070-F62367140C78 Resolution No. 23-___
Affordable Housing Impact Fee Fund Appropriation – Nellie Hannon Gateway City Council Meeting | October 17, 2023
ADOPTED, by the City Council of the City of Emeryville at a regular meeting held Tuesday, October 17, 2023, by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
MAYOR
ATTEST: APPROVED AS TO FORM:
CITY CLERK CITY ATTORNEY
DocuSign Envelope ID: E08A709D-ED9D-4AAC-A070-F62367140C78