City Council

5.5 Housing Funding: Amending Resolution No. 2024-119 to Restructure Loan Commitment to\nProject Located at 610 Paseo Del Rey\nReport Number: 24-0235\nLocation: 610 Paseo Del Rey\nDepartment: Housing and Homeless Services\nG.C. § 84308: No\nEnvironmental Notice: The activity is not a "Project" as defined under Section 15378 of the\nCalifornia Environmental Quality Act (CEQA) State Guidelines. Therefore, pursuant to State\nGuidelines Section 15060(c)(3) no environmental review is required. Notwithstanding the\nforegoing, the activity qualifies for an exemption pursuant to Section 15061(b)(3) of the\nCalifornia Environmental Quality Act State Guidelines.\nUnder National Environmental Policy Act, Federal funds constitute a portion of the proposed\nloan for pre-development and construction costs of the affordable housing project. A final\nreservation of federal funds shall occur only upon satisfactory completion of the environmental\nreview and 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 National\nEnvironmental Policy Act (“NEPA”); provided, however, that any funds disbursed to the Project\nprior to a final NEPA determination shall only be pre-development activities categorically\nexcluded from NEPA pursuant to 24 CFR Part 58.35(b)(6).\nSeptember 10, 2024 Agenda Page 4 of 7\nCity of Chula Vista - City Council\nRECOMMENDED ACTION:\nAdopt a resolution amending Resolution No. 2024-119 to restructure an affordable housing\nloan commitment of $3,300,000 to Wakeland Housing and Development Corporation\n(“Wakeland”) to allow up to $500,000 in funds to also be used for pre-development purposes,\nin order to meet disbursement deadlines imposed by the U.S. Department of Housing and\nUrban Development (“HUD”). (4/5 Vote Required)