City Council

5.A. AFFORDABLE ADU PILOT PROGRAM\nUPDATE AND LOAN AMENDMENT\nAUTHORIZATION [L. BIERY, B. LEAGUE,\nA. BARTLE]:\nThe City Council will receive an update on the\nAffordable ADU Pilot Program and consider\nincreasing the maximum loan amount for the\nAffordable ADU Pilot Program due to various\ncost escalations.\nRECOMMENDATIONS: 1) Receive an update\non the Affordable ADU Pilot Program; 2)\nAuthorize the City Attorney to draft an\namendment to the accessory dwelling unit\nloan Agreement to increase the not to exceed\namount by $181,250 for a total not- to-exceed\namount of $481,250; 3) Authorize the Director\nof Finance and Technology Services to\nallocate$181,250 from unallocated reserves in\nthe Affordable Housing Trust Fund to 216-3-\n10-57-531004 for the purposes of funding this\nloan; and 4) Authorize the City Manager or\ndesignee to execute documents incident to\nthe Agreement.\nSTAFF REPORT\nITEM 5.A. - ATTACHMENT A\nITEM 5.A. - ATTACHMENT B