Reso. No. ____
RESOLUTION NO. ____
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE HOUSING
AUTHORITY OF THE CITY OF RICHMOND, CALIFORNIA, ADOPTING A
RESOLUTION AUTHORIZING THE EXECUTIVE DIRECTOR TO ENTER INTO A
LEASE DISPOSITION AND DEVELOPMENT AGREEMENT (LDDA) AND TO
NEGOTIATE AND EXECUTE ANY AND ALL RELATED DOCUMENTS AND
AGREEMENTS, INCLUDING THE GROUND LEASE AND REGULATORY
AGREEMENT BETWEEN THE RICHMOND HOUSING AUTHORITY AND EAH
HOUSING FOR THE DEVELOPMENT OF THE NEVIN PLAZA II AFFORDABLE HOUSING PROJECT (APN 515-261-014-2)
WHEREAS, Richmond Housing Authority (“RHA”) owns and manages 100 units of rental housing; and
WHEREAS, RHA entered into a Public Housing Authority Recovery and Sustainability (PHARS) agreement with the U.S. Department of Housing and Urban Development (HUD); and
WHEREAS, RHA remains obligated and committed to performing all HUD required functions, and providing quality service to local program participants; and
WHEREAS, RHA is the owner of that certain real property located within the City of Richmond, California, known as Contra Costa County Assessors Parcel No. 515-261-014-2, and more particularly described in Exhibit A attached hereto (the “Property”); and
WHEREAS, on June 26, 2019, RHA issued a Request for Qualifications/Request for Proposals for the lease and development of the Property as an affordable residential development (the “Project”); and
WHEREAS, on April 7, 2020, the RHA Board of Commissioners (“Commission”) selected EAH, Inc., a California nonprofit public benefit corporation (“EAH”) as the preferred developer, and authorized the negotiation of an Exclusive Right to Negotiate Agreement (“ERN”); and
WHEREAS, on July 1, 2020, RHA and EAH entered into an ERN addressing development of the Project; and
WHEREAS, RHA and EAH entered into a Master Development Agreement dated December 15, 2020, addressing the lease of the Property and development of the Project; and
WHEREAS, RHA and EAH have negotiated a Lease Disposition and Development Agreement (the “LDDA”) that will govern the disposition and development of the Property and the Project; and
WHEREAS, pursuant to and subject to the terms and conditions set forth in the LDDA, RHA will lease the Property to a partnership affiliated with and controlled by EAH pursuant to a ground lease (the “ Ground Lease ”) that will restrict development of the Property for the construction of an affordable multifamily residential development consisting of approximately seventy-nine (76) units in which all units except the manager’s unit (the “ Restricted Units”) will be restricted for occupancy by lower income households at affordable rents (the “Project”); and
WHEREAS, pursuant to the LDDA and the Ground Lease, an Affordable Housing Regulatory Agreement and Declaration of Restrictive Covenants (“ Regulatory Agreement”) will be recorded against the Property; and
WHEREAS, both the Ground Lease and the Regulatory Agreement will require that for a term of ninety-nine (99) years, the Restricted Units must be occupied by, or if vacant, available for occupancy at affordable rents by households whose income does not exceed sixty percent (60%) of Area Median Income (“AMI”); and
Reso. No. ____
WHEREAS, upon disposition of the Property, the Regulatory Agreement and a memorandum of the Ground Lease will be recorded against the Property substantially in the form attached as exhibits to the LDDA, and such documents will be binding upon successors in interest to the developer and will be enforceable by RHA.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSIONERS OF THE
HOUSING AUTHORITY OF THE CITY OF RICHMOND, COUNTY OF CONTRA COSTA, STATE OF CALIFORNIA THAT the Executive Director is hereby authorized to enter into a Lease Disposition and Development Agreement (LDDA) and to negotiate and execute any and all related documents and agreements, including the Ground Lease and Regulatory Agreement between the Richmond Housing Authority and EAH Housing for the development of the Nevin Plaza II affordable housing project (APN 515-261-014-2).
BE IT FURTHER RESOLVED that the Executive Director is hereby authorized to take all actions necessary to implement this resolution.
*****************
The foregoing resolution was passed and adopted by the Commissioners of the Housing Authority of the City of Richmond at a special meeting thereof held on December 17, 2024, by the following vote:
AYES:
NOES:
ABSTENTIONS:
ABSENT:
Chairperson
[SEAL]
Attest:
Secretary
Approved as to form:
City Attorney
State of California }
County of Contra Costa : ss.
City of Richmond }
I certify that the foregoing is a true copy of Resolution No. _____ finally passed and adopted at a Special Housing Authority Meeting held on December 17, 2024.
____________________________________
CLERK OF THE HOUSING AUTHORITY
Reso. No. ____
Exhibit A
PROPERTY
Legal Description: NICH MAC CIV CNTR LOTS 9,10,19,20 BLK 2
County: CONTRA COSTA
Parcel # (APN): 515-261-014-2
Owner Name: RICHMOND HOUSING AUTHORITY
Mailing Address: 450 CIVIC CENTER PLZ 2ND FL RICHMOND CA 94804-1630