City Council

7.2 Affordable Housing: Approve up to $4.0 Million for an Affordable Housing Development to be\nLocated at 201 Third Ave\nReport Number: 25-0047\nLocation: 201 Third Avenue\nDepartment: Housing and Homeless Services\nG.C. § 84308 Regulations Apply: Yes\nEnvironmental Notice: This project is exempt from the California Environmental Quality Act\n(CEQA) pursuant to 14 California Code of Regulations Section 15300.1 (Relation to Ministerial\nProjects).\nRECOMMENDED ACTION:\nAdopt a resolution awarding a loan of up to $4.0M to Community HousingWorks for the\ndevelopment of affordable housing, from previously appropriated funds in the Housing\nSuccessor Agency Low and Moderate Income Housing Asset Fund, and authorizing the\nExecutive Director of the Housing Successor Agency to negotiate and execute a loan\nagreement, regulatory agreement, and all associated loan documents, and to carry out all other\nactions necessary for the development of the Project. (4/5 Vote Required)