File #: 22-0822    Version: Name:
Type: City Resolution Status: Passed
File created: 10/11/2022 In control: * Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council
On agenda: 12/6/2022 Final action: 12/6/2022
Title: Subject: Acquisition And Conversion To Affordable Housing (ACAH) Re-Authorization From: Housing And Community Development Department Recommendation: Adopt A Resolution (1) Allocating Up To $12,265,543 From Affordable Housing Trust Funds, Low And Moderate Income Housing Asset Funds, And Measure KK Bond Funds To The Acquisition And Conversion To Affordable Housing (ACAH) Program; (2) Allocating Additional Funds In An Amount Not To Exceed $10,000,000 From Affordable Housing Trust Funds And Excess Redevelopment Bond Funds To The ACAH Program, For A Total Amount Not To Exceed $22,265,543 Contingent Upon The City Not Receiving A Funding Award From The State Of California Homekey Program; And (3) Authorizing The City Administrator To Fund Loans Under The ACAH Program Without Returning To Council
Attachments: 1. View Report, 2. View Legislation, 3. View Supplemental Legislation 12/1/2022, 4. 89503 CMS

Title

Subject:                     Acquisition And Conversion To Affordable Housing (ACAH) Re-Authorization

From:                                          Housing And Community Development Department

Recommendation: Adopt A Resolution (1) Allocating Up To $12,265,543 From Affordable Housing Trust Funds, Low And Moderate Income Housing Asset Funds, And Measure KK Bond Funds To The Acquisition And Conversion To Affordable Housing (ACAH) Program; (2) Allocating Additional Funds In An Amount Not To Exceed $10,000,000 From Affordable Housing Trust Funds And Excess Redevelopment Bond Funds To The ACAH Program, For A Total Amount Not To Exceed $22,265,543 Contingent Upon The City Not Receiving A Funding Award From The State Of California Homekey Program; And (3) Authorizing The City Administrator To Fund Loans Under The ACAH Program Without Returning To Council