2021-22 New Construction of Rental Affordable Housing Notice of Funding Availability Staff Recommendations Housing and Community Development Department
June 7, 2022
1 Agenda
Overview
HCDD Priorities
NOFA Priorities
Funds Available
Applicants
Recommended Projects
2 NOFA OVERVIEW
The Housing and Community Development Department’s Notice of Funding Availability (NOFA) is a competitive application process for awarding City of Oakland funds for the development of multifamily affordable housing.
This will position awardees to apply to the State's Super NOFA for major state grants later this month, and tax credits in July. 3 NOFA PRIORITIES
4 Threshold Priorities:
For 2021-2022 cycle, NOFA was limited to rental developments.
Projects must have entitlement by Council Approval date.
Scoring Priorities:
Developments targeting people experiencing homelessness and extremely low-income households.
Neighborhoods experiencing displacement and gentrification. "Emerging" developers.
HCD Strategic Action Plan
5 6
Equity lens
Data Disaggregated by Race & Geography
Target Resources to Most Vulnerable Residents
Identify access points and obstacles for Black, Indigenous, and People of Color (BIPOC) partners
Funding Sources
Amount Available*
Local Housing Trust Fund
Up to $9,000,000
Housing Development Grant (HODAG)
Up to $1,577,870
Low/Mod Income Housing Asset Fund
Up to $1,319,443
Job Housing Impact Fee
Up to $5,550,000
Affordable Housing Impact Fee
Up to $12,011,000
Boomerang
Up to $1,602,687
HUD Home
Up to $6,500,000
Total Sources
$37,561,000
Fiscal Budget Impact
Fiscal Budget Impact: Sources
7 *The City is currently applying for up to $5M more in competitive 2022 State of California’s Local Housing Trust Fund (LHTF) Program funds. The $10M shown here is comprised of prior 2020 and 2021 awards and are recommended for allocation in this resolution. 7 NOFA SUMMARY
8 13 applications were received and a proposed 1,071 affordable units (with sponsors limited to two applications each due to limited funding) Total amount requested was $88,457,293
Amount of actual available budget:
Originally anticipated $15-20M for this NOFA
With mid-cycle budget adjustments and potential 2022 State funding, may fund up to $37M+ City of Oakland is able to fund just 6 projects – better than originally anticipated, but leaves worthy project on the table.
9 3050 International
Longfellow Corner
34th &
San Pablo
Agnes Memorial Senior Housing
500 Lake Park Apartments
2700 International
Ranking /
Scoring Percentage
#1
91.1%
#2
90.6%
#3
86.3%
#4
84.6%
#5
81.6%
#6
80.2%
Council District
5 7
3 5
2 5
Type
Family
Family/Homeless
Family
Senior Housing
Family
Family
New Units
76 77
60 60
53 75
Total Development Costs
$76,111,123
$75,436,952
$51,498,523
$40,314,154
$65,513,481
$72,808,978
Cost per Unit
$1,001,462
$979,700
$858,308
$671,904
$1,236,103
$970,786
Cost per Bedroom
$532,245
$516,691
$686,646
$660,889
$704,446
$593,325
SUMMARY OF APPLICATIONS
10 Lake Merritt BART Senior Affordable Housing
2125 Telegraph Avenue
Dr. Kenneth Anderson
Senior Housing
3135
San Pablo
Mandela
Station
Joshua Christian
Senior Housing
Kingdom Builders Senior Housing
Ranking /
Scoring Percentage
#7
79.7%
#8
77.4%
#9
74.8%
#10
73.4%
#11
65.2%
#12
61.3%
#13
46.5%
Council District
2 3
2 3
3 3
6 Type
Senior Housing
Senior Housing
Senior Housing
Senior Housing
Family
Senior Housing
Senior Housing
New Units
97 97
67 73
240
69 40
Total Development Costs
$84,754,505
$73,962,783
$49,855,912
$58,441,798
$186,611,357
$42,076,052
$30,295,752
Cost per Unit
$873,757
$762,502
$744,118
$800,572
$681,063
$609,797
$757,393
Cost per Bedroom
$814,947
$754,722
$733,175
$789,754
$777,547
$601,086
$757,393
TOTAL DEVELOPMENT COSTS COMPARISON
Total Development Cost
Average Total Development Costs
Median Total
Development
Cost
Average Cost per Unit
Median Cost Per Unit
2019-2020
$53,140,528
$51,772,638
$774,864
$810,263
2021-2022
$70,127,608
$65,513,481
$853,969
$800,572
11 * The assessment above is an average of total development cost (TDC) for all thirteen projects, including the average cost per unit and average cost per square foot.
RECOMMENDED PROJECTS
Rank
Project/Developer
Council District
Affordable Units
Previous City Funding
2021-22 City Funding
#1
3050 International
5 75
$237,221
$5,000,000
#2
*Longfellow Corner
7 76
$4,264,000
$7,000,000
#3
34th & San Pablo
3 60
$4,000,000
#4
Agnes Memorial Senior Housing
1 76
$4,500,000
#5
500 Lake Park Apartments
2 53
$10,061,000
#6
2700 International (contingent on award of competitive 2022 State LHTF funds) 5 75
$7,000,000
Total
339
$4,501,221
$37,561,000
12 *units count towards the 2019 NOFA Award and are excluded from the total of units shown on this chart.
13 Five-stories, 76-units, a ground floor health clinic and cultural center Families earning 20-60% of AMI
31 units for homeless individuals and households
City-Owned Land
Six- stories, 60 units, a ground floor commercial space for non-profit 50% permanent supportive housing and the other 50% of units for 50-80% AMI households.
Six-stories, 77 units, a ground floor commercial space for non-profit Individuals and families earning 20-60% of AMI
32 units for homeless individuals and households
City-Owned Land
Longfellow Corner
34th & San Pablo
3050 International
Project Summary
14 Four-stories, 60 units
Senior households earning 30-60% of AMI
18 units for formerly homeless seniors or seniors at risk of homelessness Six-stories, 75 units
Household earning between 20 and 80% of AMI
19 for formerly homeless veterans, supported through a commitment of 19 HUD VASH vouchers.
Six-stories, 53 units
Household earning 20 and 60% of AMI
20 units for formerly homeless veterans, with an additional 14 project-based HUD VASH vouchers. 500 Lake Park
2700 International
Agnes Memorial Senior Housing
Project Summary
14 16
Resolution (1) Authorizing Affordable Housing Development Loans In A Total Amount Not To Exceed $30,561,000 For The Following Affordable Housing New Construction Projects: 3050 International (3050 International Boulevard), Longfellow Corner (3801-3807 & 3823-3829 Martin Luther King Jr. Way), 34th & San Pablo (3419-3431 San Pablo Avenue), Agnes Memorial Senior Housing (2372 International Boulevard), And 500 Lake Park Apartments (500 Lake Park Avenue); And (2) Authorizing An Additional Allocation In An Amount Not To Exceed $7,000,000 And An Additional Affordable Housing Development Loan For The 2700 International Boulevard Project (2700-2720 International Boulevard & 1490-1415 Mitchell Street) Contingent On Funding From The 2022 State Local Housing Trust Fund; And Resolution Appropriating $1,577,870.14 From Funding Reimbursed To The City By The U.S. Department Of Housing And Urban Development’s Housing Development Grant Program To Housing Development Activities; And Resolution Amending City Council Resolution No. 88765 C.M.S. Authorizing Affordable Housing Development Loans To The Friendship Senior Housing And The Phoenix Projects To Change The Funding Sources For A Portion Of The Loans To Include Allocations From The California Department Of Housing And Community Developments Local Housing Trust Fund Program.
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