City Council

1.k. Land Purchase Option Agreement with Mercy Housing\nCalifornia for the Baker Street Affordable Housing\nDevelopment Fiscal Impact: Land Financing Terms to be\ndetermined via Development Agreement\n6/2/23, 2:47 PM placentia.granicus.com/GeneratedAgendaViewer.php?view_id=4&event_id=421\nRecommended Action: It is recommended that the City\nCouncil:\n1) Award the Request for Qualifications/Proposals to\nMercy Housing California for the Affordable Housing\nDevelopment on Baker Street; and\n2) Reject all other proposals; and\n3) Approve Resolution No. R-2023-41, A Resolution of\nthe City Council of the City of Placentia, California\nApproving a Land Purchase Option Agreement and the\nExecution of a Loan Commitment Letter in the amount\nof $3,274,260 for a Residual Receipts Loan to Finance\nan Affordable Housing Development at 323, 307, 312\nand 314 Baker Street; and\n4) Authorize the City Administrator and/or his designee\nto execute all necessary documents, in a form\napproved by the City Attorney.\nStaff Report\nResolution R-2023-41\nRequest for Qualifications and Proposals\nMercy House Proposal\n2. PUBLIC HEARINGS: