City Council

8F. City Council consideration for a request to extend the affordable funding commitment deadline at 1150 Quail Gardens Drive for the Fox Point Farms development from December 31, 2023 to December 31, 2024. Environmental Considerations: The action being considered by the City Council is not subject to the California Environmental Quality Act (CEQA) pursuant to Section 15060(c)(3) of the CEQA Guidelines because it is not defined as a "project" under Section 15378(b)(5). The action involves an organizational or administrative activity of government that will not result in direct or indirect physical change in the environment. Contact Person: Housing Services Manager Dacey Recommended Action: Extend the funding commitment for an affordable housing loan request in an amount up to $400,000 with Chelsea Investment Corporation, in partnership with Shea Homes, for the development of 40 affordable units from December 31, 2023, to December 31, 2024, subject to submission of a revised affordable housing plan and the award of tax-exempt bonds and low-income tax credits. 2023-12-13 Item 08F Fox Point Affordable Loan Extension