Reso. No. ____
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RESOLUTION NO. ____
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE HOUSING
AUTHORITY OF THE CITY OF RICHMOND, CALIFORNIA, ADOPTING A
RESOLUTION APPROVING A CONSULTING SERVICES CONTRACT WITH
STRUCTURE DEVELOPMENT ADVISORS TO CONTINUE THE REPOSITIONING
OF ASSETS OF THE RICHMOND HOUSING AUTHORITY IN THE AMOUNT NOT TO EXCEED $600,000 FROM APRIL 15, 2025 TO JUNE 30, 2028 WITH THE OPTION TO EXTEND FOR UP TO ONE ADDITIONAL YEAR AT $200,000 PER YER FOR A TOTAL NOT TO EXCEED AMOUNT OF $800,000.
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 currently engaged in public housing repositioning transactions, including the excess lot at Hacienda, excess lot at Nevin Plaza (Nevin II Project), Richmond Village, and Nystrom Village; and
WHEREAS, Structure Development Advisors has extensive experience working with RHA on previous repositioning transactions, including Triangle Court, Friendship Manor, Nevin Plaza, Hacienda, and RHA’s administrative building, as well as the transfer of the Housing Choice Voucher Program to the Housing Authority of Contra Costa County; and
WHEREAS, has a continued need for their services to continue repositioning its assets.
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 execute a contract for a consulting services with Structure Development Advisors to continue the repositioning of assets of the Richmond Housing Authority in the amount not to exceed $600,000 from April 15, 2025 to June 30, 2028 with the option to extend for up to one additional year at $200,000 per year for a total not to exceed amount of $800,000.
BE IT FURTHER RESOLVED that the Executive Director is hereby authorized to take all actions necessary to implement this resolution.
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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 April 15, 2025 by the following vote:
AYES:
NOES:
ABSTENTIONS:
ABSENT:
Reso. No. ____
DocID #39216v1
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 April 15, 2025.
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CLERK OF THE HOUSING AUTHORITY