City Council

J.3\nJOINT PUBLIC HEARING PROPOSED DISPOSITION OF REAL PROPERTY;\nCONSIDERATION OF HOME INVESTMENT PARTNERSHIP AGREEMENTS WITH\nMARY ERICKSON COMMUNITY HOUSING FOR THE LANTANA COURT\nAFFORDABLE OWNERSHIP HOUSING PROJECT (REPORT OF: CITY\nMANAGER) (DISTRICT 1)\nJoint Public Hearing for proposed disposition of real property; consideration of\naffordable housing agreement, cooperation agreement, and reimbursement\nagreement among Moreno Valley Housing Authority, City of Moreno Valley, and Mary\nErickson Community Housing for the Development of Lantana Court Affordable\nOwnership Housing Project\nRecommendation(s)\nThat City Council and Housing Authority:\n1. Adopt City Council Resolution 2025-XX to (a) approve disposition of Site pursuant\nto HOME Investment Partnership and Affordable Housing Agreement (Lantana Court)\nbetween the Moreno Valley Housing Authority and Mary Erickson Community\nHousing (b) approve (i) Cooperation Agreement (Lantana Court) between City and\nAuthority, and (ii) Reimbursement Agreement for Public Improvements (Lantana\nCourt Affordable Housing Project) among City, Authority and Developer, and (c)\nauthorize the Mayor and/or City Manager to execute and City Clerk to attest such\nAgreements, (c) authorize City Manager to make non-substantive revisions to, and\ncarry out such Agreements, including implementing documents, as approved by the\nCity Attorney (or special council), and (d) make certain other findings.\n2. Adopt Housing Authority Resolution 2025-XX to (a) approve disposition of Site\npursuant to HOME Investment Partnership and Affordable Housing Agreement\n(Lantana Court) between the Moreno Valley Housing Authority and Mary Erickson\nCommunity Housing, (b) approve (i) HOME Investment Partnership and Affordable\nHousing Agreement (Lantana Court), (ii) Cooperation Agreement (Lantana Court)\nbetween City and Authority, and (iii) Reimbursement Agreement for Public\nImprovements (Lantana Court Affordable Housing Project) among City, Authority and\nDeveloper, (c) authorize Chair and/or City Manager to execute and City Clerk to\nattest such Agreements, (d) authorize Executive Director to make non-substantive\nrevisions and carry out Agreements, including implementing documents, as approved\nby the City Attorney (or special council), and (e) make certain other findings.\n3. Authorize the City Attorney (or special council) to finalize the Agreements, prepare\nrelated instruments and implement the Lantana Court Affordable Ownership Housing\nProject as presented in this report.\n4. Authorize City Manager/Executive Director to execute implementing documents\nand instruments to the Agreements subject to the approval of the City Attorney (or\n13\n\nspecial council).\n5. Approve budget adjustments to the adopted budget as set forth in the Fiscal\nImpact section of this report. This project will be funded with HOME Program,\nMeasure A, and the Authority's Low to Moderate Income Housing Asset Fund.