City of Mountain View
Legislation Text
CITY HALL
500 CASTRO STREET
File #: 203868, Version: 1
Accept and Appropriate Local Housing Trust Funds (LHTF) for Affordable Housing Projects at 1020 Terra Bella Avenue and 1012 Linda Vista Avenue
Adopt a Resolution of the City Council of the City Of Mountain View: (1) Accepting and Appropriating a State of California Local Housing Trust Fund (“LHTF”) Grant in the Amount of $4,205,452; (2) Allocating $2,400,000 of the LHTF Grant Funds to the 1020 Terra Bella Avenue Affordable Housing Project and $1,600,000 of the LHTF Grant Funds to the 1012 Linda Vista Avenue Affordable Housing Project; (3) Allocating the Remaining Balance of LHTF Grant Funds in an Amount up to $205,452 for Eligible Administrative Cost; (4) Reducing the Previous Appropriation of $13,500,000 from the Below-Market-Rate In-Lieu Fund for the 1020 Terra Bella Avenue Project by $2,400,000; and (5) Reducing the Previous Appropriation of $10,000,000 from the Below- Market-Rate In-Lieu Fund for the 1012 Linda Vista Avenue Project by $1,600,000, to be read in title only, further reading waived (Attachment 1 to the Council report).
City of Mountain View Printed on 2/8/2024Page 1 of 1
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