5/20/2022
1 RiversideCA.gov
1 RiversideCA.gov
City Council
May 24, 2022
Resolution to Support the Mulberry
Garden Apartments Funding
Applications
Office of Homeless Solutions
RiversideCA.gov
2 • State of CA released NOFA on May 5, 2022
• Enable affordable housing development on State Excess Site:
2524 Mulberry Street
• Developer: Eden Housing
• Project: 209-unit family and senior affordable housing community
• Application deadline: May 25, 2022
– Resolution required to meet application threshold
BACKGROUND
5/20/2022
2 RiversideCA.gov3
•Eden has reached out to the City for assistance with the LGMGprogram application threshold requirement of obtaining a localgovernment contribution through a resolution, which must besubmitted with the application by May 25, 2022.•The proposed Resolution will make a preliminary City commitment ofHOME Investment Partnerships-ARP funds to the Mulberry GardenApartments project.•The Resolution as an interim step, is being requesting to meet theimmediate funding application deadline that the developer is tryingto meet in order to obtain a major source of funding needed for thedevelopment of the project. Staff will return to City Council in theSummer of 2022 to approve the funding documents.RESOLUTION RiversideCA.gov4
STRATEGIC PLAN ALIGNMENTEnvision Riverside 2025 Strategic Plan PrioritiesCross-Cutting Threads#2 Community Well-Being, Goal 2.1Community TrustEquityFiscal ResponsibilityInnovationSustainability & Resiliency
5/20/2022
3 RiversideCA.gov5
That the City Council adopt a Resolution supporting theMulberry Garden Apartments, a 209-unit family and senioraffordable housing community located at 2524 MulberryStreet and Eden Housing Inc’s funding applications to theState of California Excess Sites Local GovernmentMatching Grants Program, the California Tax CreditAllocation Committee, and to the City of Riverside for$3,000,000 in FY 2021/2022 HOME Investment PartnershipsACT-ARP funds.RECOMMENDATION