City Council

5.7 Housing Funding: Approve up to $4 Million for a Permanent Supportive\nHousing Development to be Located at 610 Paseo Del Rey\nReport Number: 24-0189\nLocation: 610 Paseo Del Rey\nDepartment: Housing and Homeless Services\nG.C. § 84308: Yes\nEnvironmental Notice: The activity is not a "Project" as defined under Section 15378\nof the California Environmental Quality Act (CEQA) State Guidelines. Therefore,\npursuant to State Guidelines Section 15060(c)(3) no environmental review is required.\nNotwithstanding the foregoing, the activity qualifies for an exemption pursuant to\nSection 15061(b)(3) of the California Environmental Quality Act State Guidelines.\nUnder National Environmental Policy Act, Federal funds constitute a portion of the\nproposed loan for construction of the affordable housing project. A final reservation of\nfederal funds shall occur only upon satisfactory completion of the environmental review\nand receipt by the City of Chula Vista and a release of funds from the United States\nDepartment of Housing and Urban Development (“HUD”) under 24 CFR Part 58 of the\nNational Environmental Policy Act (“NEPA”).\nRECOMMENDED ACTION:\nAdopt resolutions approving loans totaling $4,000,000 to Wakeland Housing and\nDevelopment Corporation, or an affiliated entity, to assist in the construction of a 96-\nunit affordable housing development to be located at 610 Paseo Del Rey, and\nauthorizing the City Manager or her designee to negotiate and execute all documents\nrelated to the loans in a form approved by the City Attorney’s office, as follows:\nResolutions:\nA) City Council approving a loan of up to $631,189.55 in HOME Investment\nPartnerships Program (“HOME”) funds and $2,668,810.45 in HOME Investment\nPartnerships American Rescue Plan Program (“HOME-ARP”) funds.\nB) Chula Vista Housing Authority (“Housing Authority”) acting as the Housing\nSuccessor Agency approving a loan of up to $700,000 from the Housing Asset Fund\nand appropriating funds for that purpose. (4/5 Vote Required)