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1 RiversideCA.gov
1 RiversideCA.gov
City Council
April 16, 2024
Disposition and Development
Agreement for 11049 Bogart Avenue –
Public Hearing
Housing and Human Services
RiversideCA.gov
2 June 24, 2008, Redevelopment Agency acquired
property located at 11049 Bogart Avenue
BACKGROUND
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3 March 14, 2019, received a proposal from Neighborhood Housing Partnership Services (NPHS) for an affordable housing project at 11049 Bogart Avenue
BACKGROUND
RiversideCA.gov
4 • March 14, 2019, received a proposal from Neighborhood Housing Partnership Services (NPHS) for an affordable housing project at 11049 Bogart Avenue
• August 2019, entered into an Option Agreement with NPHS and adopted a Resolution to support the submission of a Multifamily Housing Program (MHP) funding application
• October 19, 2019, Assembly Bill 1486 Surplus Land (AB-1486) was enacted
• December 17, 2019, approved a First Amendment to the Option Agreement to extend terms for 90 days
• NPHS did not close escrow by December 31, 2022, requiring the Housing Authority to comply with AB-1486
BACKGROUND
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5 • June 13, 2023, Housing Authority adopted a Resolution declaring the property as Exempt Surplus
• July 18, 2023, Housing Authority released a Request for Proposals (RFP) for the property
• The City received only one proposal under this RFP, from NPHS for the Sunrise at Bogart Project
BACKGROUND
RiversideCA.gov
6 ESTIMATED DEVELOPMENT COSTS
CostActivity
$ 27,000.00 Acquisition Costs
$10,764,627.24 Construction Costs
$ 593,651.00 Architectural & Engineering
$ 1,485,994.58 Construction Interest & Fees
$ 659,174.00 Contingency
$ 38,000.00 Permanent Financing Costs
$ 50,000.00 Legal Fees
$ 2,767,707.00 Other Costs
$16,386,153.82Total Development Costs
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7 SOURCES OF FUNDS
Funding AmountFunding Source
$ 2,200,000.00 Homekey Round 3
$ 388,797.00 City of Riverside ARPA
$ 1,218,000.00 Riverside County Continuum of Care HHAP $ 3,340,830.00 MHP HCD Super NOFA
$ 380,562.82City of Riverside PLHA
$ 1,800,000.00 County of Riverside HOME
$ 1,119,437.00 City of Riverside HOME
$ 990,000.00 NPHS Loan
$ 800,000.00 HHAP-2
$ 1,148,527.00 NPLH
$ 3,000,000.00 Congressional Allocations
$16,386,153.82Total Sources of Funds
RiversideCA.gov
8 AFFORDABLE HOUSING UNITS
Total Units2 Bed/
1 Bath
1 Bed/
1 BathArea Median Income (AMI)
1101130% AMI
1101150% AMI
110Unrestricted Manager Unit
23122Total Units
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9 • March 13, 2018, adopted a Housing First Plan that
included the property, which was identified through
community outreach meetings held in each Ward
• November 17, 2019, held community meeting at La
Sierra Senior Center
PUBLIC OUTREACH
RiversideCA.gov
10 STRATEGIC PLAN ALIGNMENT
Envision Riverside 2025 Strategic Plan Priorities
Cross-Cutting Threads
#2 Community Well-Being
Community Trust
Equity
Fiscal Responsibility
Innovation
Sustainability &
Resiliency
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11 That the Housing Authority:
1. Conduct a public hearing in accordance with the California Health and Safety Code Section 34312.3 for the c onveyance of 11049 Bogart Avenue to Neighborhood Partnership Housing Services, Inc., for the sum of One Dollar ($1);
2. Approve the attached Disposition and Development Agreement with Neighborhood Partnership Housing Services, Inc. for the development of a 22-unit Permanent Supportive Housing project on Housing Authority owned property located at 11049 Bogart Avenue; and
3. Authorize the Executive Director, or his designee, to execute the Disposition and Development Agreement, including making minor and non-substantive changes.
RECOMMENDATIONS
11