City Council

5. FINANCE COMMITTEE: APPROVE THE KEY BUSINESS TERMS OF A FIRST AMENDMENT TO THE DEVELOPMENT AND LEASE AGREEMENT WITH NATIONAL COMMUNITY RENAISSANCE OF CALIFORNIA AND AMEND THE HOUSING DEPARTMENT’S FISCAL YEAR 2026 OPERATING BUDGET BY RECOGNIZING REVENUE AND APPROPRIATING $5,000,000 OF STATE LOCAL HOUSING TRUST FUNDS FOR THE CONSTRUCTION OF AN AFFORDABLE HOUSING PROJECT FOR SENIORS ON CITY-OWNED PROPERTY AT 280 RAMONA STREET (Housing Dept.) Recommendation: It is recommended that the City Council: 1) Find that the actions proposed in the agenda report are not a “project” subject to the California Environmental Quality Act (CEQA) pursuant to State CEQA Guidelines Section 21065 and within the meaning of Section 15378(b); 2) Approve the key business terms, as described in the agenda report, of the proposed First Amendment to the Development and Lease Agreement with National Community Renaissance of California; 3) Amend the Housing Department’s Fiscal Year (FY) 2026 Operating Budget recognizing revenue and appropriating $5,000,000 of state Local Housing Trust Funds in the Other Housing Fund (238) for the construction of an affordable housing project for seniors on City-owned property at 280 Ramona Street; and 4) Authorize the City Manager to execute any and all documents necessary to effectuate the staff recommendation.