City Council

8F. City Council consideration for a request to extend the affordable funding\ncommitment deadline at 1150 Quail Gardens Drive for the Fox Point Farms\ndevelopment from December 31, 2023 to December 31, 2024. Environmental\nConsiderations: The action being considered by the City Council is not subject\nto the California Environmental Quality Act (CEQA) pursuant to Section\n15060(c)(3) of the CEQA Guidelines because it is not defined as a "project"\nunder Section 15378(b)(5). The action involves an organizational or\nadministrative activity of government that will not result in direct or indirect\nphysical change in the environment. Contact Person: Housing Services\nManager Dacey\nRecommended Action: Extend the funding commitment for an affordable\nhousing loan request in an amount up to $400,000 with Chelsea Investment\nCorporation, in partnership with Shea Homes, for the development of 40\naffordable units from December 31, 2023, to December 31, 2024, subject to\nsubmission of a revised affordable housing plan and the award of tax-exempt\nbonds and low-income tax credits.\n2023-12-13 Item 08F Fox Point Affordable Loan Extension