Title
Subject: Affordable Housing Funding And Measure U Capital Funding Authorizations
From: Housing And Community Development Department
Recommendation: Adopt A Resolution (1) Allocating Funds From Measure U Housing Bond And Other Non-Bond Funds In A Total Amount Not To Exceed $50,000,000, Inclusive Of Administrative Expenses, To Fund Affordable Housing Programs Including New Construction Of Multifamily Rental Affordable Housing, Rapid Response Homeless Housing And Homekey, Acquisition And Conversion To Affordable Housing, And Rehabilitation Of Existing Affordable Housing; And
(2) Authorizing The City Administrator To Allocate And Reallocate Budgeted Affordable Housing Funding From Impact Fees, Program Income, Loan Repayments, And Other Available Affordable Housing Funds As Funds Become Available; And;
(3) Authorizing The City Administrator To Make Development Loans And Grants Under The Affordable Housing Programs, Contingent On Funding Availability; And
(4) Authorizing The City Administrator To Reallocate Previously Authorized Funds Among Measure U Tranches 1, 2, And 3; And
(5) Amending Resolution Nos. 86126 C.M.S., 86366 C.M.S., And 89605 C.M.S. To Allocate An Additional Amount Not To Exceed $2,000,000 To The Health And Safety Rehabilitation Program, Contingent On Funding Availability