RESOLUTION NO. ______
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RIVERSIDE AUTHORIZING APPLICATION TO AND PARTICIPATION IN THE STATE OF CALIFORNIA’S HOMEKEY PROGRAM AND AUTHORIZING THE EXECUTION OF ALL REQUIRED DOCUMENTS BY THE CITY MANAGER OR DESIGNEE WHEREAS:
The Department of Housing and Community Development (“Department”) has issued a Notice of Funding Availability, dated September 9, 2021 (“NOFA”), for the Homekey Program (“Homekey” or “Program”). The Department has issued the NOFA for Homekey grant funds pursuant to Health and Safety Code section 50675.1.3 (Assembly Bill No. 140 (2021-2022 Reg. Sess.), § 20.).
The City of Riverside (“Applicant”) desires to apply for Homekey grant funds with Sunrise at Bogart LP (“Corporation”). Therefore, Applicant is submitting an application for Homekey funds (“Application”) to the Department for review and consideration.
The Department is authorized to administer Homekey pursuant to the Multifamily Housing Program (Chapter 6.7 (commencing with Section 50675) of Part 2 of Division 31 of the Health and Safety Code). Homekey funding allocations are subject to the terms and conditions of the NOFA, the Application, the Department-approved STD 213, Standard Agreement (“Standard Agreement”), and all other legal requirements of the Homekey Program.
THEREFORE, IT IS RESOLVED THAT:
Applicant is hereby authorized and directed to submit an Application to the Department in response to the NOFA, and to apply for Homekey grant funds in a total amount not to exceed Four Million Four Hundred Thousand Dollars ($4,400,000); and If the Application is approved, Applicant is hereby authorized and directed to enter into, execute, and deliver a Standard Agreement in a total amount not to exceed $4,400,000 any and all other documents required or deemed necessary or appropriate to secure the Homekey funds from the Department and to participate in the Homekey Program, and all amendments and extensions thereto (collectively, the “Homekey Documents”); and Applicant acknowledges and agrees that it shall be subject to the terms and conditions specified in the Standard Agreement, and that the NOFA and Application will be incorporated in the Standard Agreement by reference and made a part thereof. Any and all activities, expenditures, information, and timelines represented in the Application are enforceable through the Standard Agreement. Funds are to be used for the allowable expenditures and activities identified in the Standard Agreement.
City of Riverside’s City Manager, or designee, is authorized to execute the Application and the Homekey Documents on behalf of Applicant for participation in the Homekey Program.
Resolution No. 23813 is hereby repealed and replaced.
ADOPTED by the City Council this _________day of_____________, 20________. _______________________________
PATRICIA LOCK DAWSON
Mayor of the City of Riverside
Attest:
_______________________________
DONESIA GAUSE
City Clerk of the City of Riverside
I, Donesia Gause, City Clerk of the City of Riverside, California, hereby certify that the foregoing resolution was duly and regularly adopted at a meeting of the City Council of said City at its meeting held on the __________ day of ___________________, 20_________, by the following vote, to wit:
Ayes:
Noes:
Absent:
Abstain:
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Riverside, California, this ______________ day of____________________, 20_________. __________________________________
DONESIA GAUSE
City Clerk of the City of Riverside
21-1504.1
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