City Council

B. APPROVE ADDITIONAL FUNDING IN THE AMOUNT OF $3,000,000\nFOR DEVELOPMENT AND CONSTRUCTION OF THE ALOE PALM\nCANYON PROJECT LOCATED AT 1479 NORTH PALM CANYON\nDRIVE, A 71-UNIT SENIOR HOUSING PROJECT IN THE CITY OF\nPALM SPRINGS\nRECOMMENDATION:\n1. Appropriate funds in the amount of $3,000,000 from Housing Set-\nAside resources in the Fiscal Year 2023 Budget.\n2. Approve a Funding Commitment in the amount of $3,000,000 for\nthe West Hollywood Community Housing Corporation for the Aloe\nPalm Canyon Project, subject to terms and conditions of the\nDisposition and Development Agreement.\n3. Authorize the City Manager to execute any necessary documents in\norder to carry out the foregoing, including a Funding Commitment\nLetter for the Aloe Palm Canyon Project, including making minor,\nnon-substantive changes, and to sign all documents necessary.