Title
Resolution authorizing the City of South San Francisco's application for $2,362,500 of California's Local Housing Trust Fund ("LHTF"), and approving a City Letter of Funding Commitment to Eden Housing to provide matching funds for an 82-unit affordable rental housing project at 201 Baden Avenue.
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WHEREAS, the Department is authorized to provide up to $57 million under the Local Housing Trust Fund ("LHTF") Program from the Veterans and Affordable Housing Bond Act of 2018 (Proposition 1) (as described in Health and Safety Code section 50842.2 et seq. (Chapter 365, Statutes of 2017 (SB 3)) ("Program"); and,
WHEREAS, the State of California (the "State"), Department of Housing and Community Development ("Department") issued a Notice of Funding Availability ("NOFA") dated 5/3/2021 under the LHTF Program; and,
WHEREAS, the City of South San Francisco (the "City" or "Applicant") is an eligible Local or Regional Housing Trust Fund applying to the Program to administer one or more eligible activities using Program Funds; and,
WHEREAS, the Department may approve funding allocations for the LHTF Program, subject to the terms and conditions of H&S Code Section 50842.2, the LHTF Program Guidelines, NOFA, Program requirements, the Standard Agreement and other related contracts between the Department and LHTF award recipients; and,
WHEREAS, on August 22, 2018, the City of South San Francisco Council adopted Ordinance number 1560-2018 establishing an Affordable Housing Commercial Linkage Fee for new commercial developments in the City; and,
WHEREAS, Section 8.69 of the City's Municipal Code, established the City's Affordable Housing Trust Fund ("City Trust Fund") which receives ongoing revenue from the Commercial Linkage Fee; and,
WHEREAS, the City Trust Fund monies are and will continue to be used in accordance with the City' s Housing Element or subsequent plans adopted by the City Council to maintain or increase the quantity, quality and variety of aff...
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