GRANT TO DELTA COMMUNITY
DEVELOPERS CORP FOR THE
PROPERTY ACQUISITION AND
DEVELOPMENT OF DANNY
DRIVE SENIOR LIVING PROJECT
Stockton City Council
January 9, 2023
Agenda Item 15.1
BACKGROUND
In October 2023, the Economic Development
Department released a Notice of Funding Availability
(NOFA) announcing the availability of approximately $1.5 million in CDBG funding for the purpose of property
acquisition leading to the development of affordable
housing.
EDD received 3 proposals from Delta Community
Developers Corp (DCDC), Central Valley Low Income
Housing Corp (CVLIHC), and Community Revitalization &
Development Corp (CRDC)
Project Selection Considerations:
Timely response
Responsiveness to project details requests
Project characteristics including target population
Number of units to be developed
Developer experience/capacity
DANNY DRIVE
SENIOR LIVING
PROJECT
EDD recommendation:
Danny Drive Senior Living Project – Delta Community
Developers Corp (CDCD)
Location: 6303 and 6304 Danny Drive, Stockton CA
Property: 3.03 acres, zoned High Density Residential
(HDR).
Proposed project will consist of 110 affordable
housing units
Project to be developed in 2 phases
Project will serve seniors of ages 62 and over that are low and very low‐income with incomes no higher
than the 50% of San Joaquin County area median
income.
A subset of these units will be allocated for seniors who are at risk of homelessness.
City Assistance: CDBG Grant – $1,300,000 to be used
for property acquisition
PROPOSED RENDERING
FINANCIAL
PLAN
DCDC will seek funding sources to fill the gap in
financing and increase the project's competitiveness
for 9% Tax Credits.
DCDC will seek State of California Multifamily Housing Program (MHP), San Joaquin County Mental Health
Services Act Funding, and Faircloth‐to‐RAD, among
others.
Project Based Vouchers: HACSJ will subsidize the
affordable units with project‐based vouchers to
ensure that senior units remain affordable for the
long term.
The Project based voucher subsidy will make the
project competitive for Low‐Income Housing Tax
Credits.
ESTIMATED
PROJECT
SCHEDULE
February/March 2024: Environmental Review/Execute
Grant Agreement
March 2024: Project Acquisition/Close of Escrow
April 2024 –F e b r u a r y 2025: Project Design, City Approvals, Project Financing Packaging
March 2025: Estimated Construction Start
RECOMMENDATIONS
Recommend that the City Council adopt a resolution:
1. Approving a $1,300,000 Community Development
Block Grant (CDBG) grant to Delta Community
Developers Corp (DCDC) for the purpose of
acquiring property located at 6303 and 6304 Danny
Drive for development of the Danny Drive Senior
Living affordable housing project;
2. Approving the allocation of 110‐units of affordable
housing for seniors, through the Danny Drive Senior
Living project pursuant to Article XXXIV of the
California Constitution; and
3. Authorizing the City Manager, or designee, to
execute all documents and take all necessary and
appropriate actions to carry out the purpose and
intent of the resolution.