Attachment 1
-1-
CITY OF MOUNTAIN VIEW
RESOLUTION NO.
SERIES 2025
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOUNTAIN VIEW:
(1) REDUCING THE PREVIOUS APPROPRIATION OF $8,400,000 FROM THE HOUSING DEPARTMENT’S BELOW-MARKET-RATE IN-LIEU FEES HOUSING SUBFUND (BMR FUND) FOR THE 1012 LINDA VISTA AVENUE PROJECT BY $1,600,000; (2) REDUCING THE PREVIOUS APPROPRIATION OF $11,100,000 FROM THE BMR FUND FOR THE 1020 TERRA BELLA AVENUE PROJECT BY $3,226,500; (3) APPROPRIATING $2,400,000 FROM THE CITY OF MOUNTAIN VIEW HOUSING DEPARTMENT’S CITY LOCAL HOUSING TRUST SUBFUND (CITY LHTF) TO THE 1020 TERRA BELLA AVENUE AFFORDABLE HOUSING PROJECT, $1,600,000 FROM THE CITY LHTF TO THE 1012 LINDA VISTA AVENUE AFFORDABLE HOUSING PROJECT, AND $205,452 FROM THE CITY LHTF FOR ELIGIBLE ADMINISTRATIVE COSTS; (4) ACCEPTING AND APPROPRIATING A STATE OF CALIFORNIA PROHOUSING INCENTIVE PROGRAM (PIP) ROUND 2 GRANT IN THE AMOUNT OF $870,000 TO THE HOUSING DEPARTMENT’S GENERAL HOUSING SUBFUND; (5) ALLOCATING $826,500 OF THE PIP ROUND 2 GRANT FUNDS TO THE 1020 TERRA BELLA AVENUE AFFORDABLE HOUSING PROJECT; AND (6) AUTHORIZING USE OF $43,500 OF THE PIP ROUND 2 GRANT FUNDS FOR ELIGIBLE
ADMINISTRATIVE COSTS
WHEREAS, Health and Safety Code (HSC) Section 50843.5 authorizes the California Department of Housing and Community Development (Department) to provide matching grants to Local Housing Trust Funds (LHTF) established by cities and counties, Native American tribes, and/or incorporated 501(c)(3) nonprofit organizations; and
WHEREAS, the grant funds may be used for construction loans and/or permanent financing loans to pay for predevelopment costs, acquisition costs, and other costs associated with development or rehabilitation of affordable rental housing projects, emergency shelters, permanent supportive housing, transitional housing, or affordable homebuyer/homeowner projects, including assistance to income-eligible households to purchase for-sale units; and
WHEREAS, on May 9, 2023, the City of Mountain View (“City”) established a Local Housing Trust Fund in the amount of $5,000,000 to serve as matching funds and authorized City staff to apply for a LHTF matching grant on behalf of the City; and
WHEREAS, on October 2, 2023, the City was awarded a LHTF matching grant in the amount of $4,205,452; and
WHEREAS, on January 16, 2024, the City entered into a Standard Agreement for the LHTF grant award with the Department; and
-2-
WHEREAS, on February 13, 2024, the City Council approved allocating the LHTF grant award of $4,205,452 as per the following : $2,400,000 to the previously approved affordable housing project at 1020 Terra Bella Avenue; $1,600,000 to the previously approved affordable housing project at 1012 Linda Vista Avenue ; and the remaining balance of up to $205,452 for eligible administrative costs; and
WHEREAS, City staff recommends appropriating City matching funds of $4,205,452 from the City Housing Trust Fund to match the LHTF grant award as required and allocate $2,400,000 of the City Housing Trust funds to the 1020 Terra Bella Avenue project, $1,600,000 to the 1012 Linda Vista Avenue project, and $205,452 for eligible administrative costs; and
WHEREAS, pursuant to Health and Safety Code 50470, et seq., the Department is authorized to issue guidelines as part of an incentive program (hereinafter referred to by the Department as the “Prohousing Incentive Program or “PIP”); and
WHEREAS, on January 23, 2024, the Department issued PIP Guidelines and a Notice of Funding Availability (NOFA) in the amount of $9,483,402.17 for the second round of the PIP (“PIP Round 2”); and
WHEREAS, on February 27, 2024, the City Council authorized City staff to apply for a PIP Round 2 grant on behalf of the City; and
WHEREAS, on July 8, 2024, the City was awarded a PIP Round 2 grant in the amount of $870,000; and
WHEREAS, on November 26, 2024, the City entered into a Standard Agreement for the PIP Round 2 grant award with the Department; and
WHEREAS, City staff recommends allocating $826,500 of the PIP Round 2 grant funds awarded to the City to the previously approved affordable housing project at 1020 Terra Bella Avenue; and
WHEREAS, City staff recommends authorizing use of the remaining balance of the PIP Round 2 grant funds awarded to the City in an amount up to $43,500 for eligible administrative costs; and
WHEREAS, due to the City Housing Trust fund matching requirements of $1,600,000 for the 1012 Linda Vista Avenue project, City staff recommends reducing the previous appropriation of $8,400,000 from the Below-Market-Rate (BMR) In-Lieu Fund for this project by $1,600,000 to make those BMR funds available for other eligible projects; and
WHEREAS, due to the City Housing Trust fund matching requirements of $2,400,000 and the availability of $826,500 in PIP Round 2 grant funds for the 1020 Terra Bella Avenue project, -3-
City staff recommends reducing the previous appropriation of $11,100,000 from the BMR In-Lieu Fund for this project by $3,226,500 to make those BMR funds available for other eligible projects; now, therefore be it
RESOLVED: that the City Council of the City of Mountain View appropriates $2,400,000 of the City Housing Trust Funds to the previously approved 1020 Terra Bella Avenue affordable housing project; and be it
FURTHER RESOLVED: that the City Council of the City of Mountain View allocates $1,600,000 of the City Housing Trust Funds to the previously approved 1012 Linda Vista Avenue affordable housing project; and be it
FURTHER RESOLVED: that the City Council of the City of Mountain View authorizes the use in an amount up to $205,452 for eligible administrative costs; and be it
FURTHER RESOLVED: that the City Council of the City of Mountain View accepts and appropriates the Prohousing Incentive Program Round 2 grant award in the amount of $870,000; and be it
FURTHER RESOLVED: that the City Council of the City of Mountain View allocates $826,500 of the PIP Round 2 grant funds to the previously approved 1020 Terra Bella Avenue affordable housing project; and be it
FURTHER RESOLVED: that the City Council of the City of Mountain View authorizes use of the remaining balance of PIP Round 2 grant funds in an amount up to $43,500 for eligible administrative costs; and be it
FURTHER RESOLVED: that the City Council of the City of Mountain View reduces the previous appropriation of $1 1,100,000 from the BMR In -Lieu Fund for the 1020 Terra Bella Avenue project by $3,226,500 and authorizes return of the $ 3,226,500 to the BMR In-Lieu Fund to make those funds available for other eligible projects; and be it
FURTHER RESOLVED: that the City Council of the City of Mountain View reduces the previous appropriation of $8,400,000 from the BMR In-Lieu Fund for the 1012 Linda Vista Avenue project by $1,600,000 and authorizes return of the $1,600,000 to the BMR In-Lieu Fund to make those funds available for other eligible projects; and be it
FURTHER RESOLVED: that this Resolution shall be effective upon the date of its adoption.
– – – – – – – – – – –
HR/6/RESO/850-02-25-25r