HomeMy WebLinkAboutCC Resolution 15187 (2021 Affordable Housing NOFA Funding Recommendation - Canal Alliance Alternative Site Acquisition)Page 1 of 2
RESOLUTION NO. 15187
RESOLUTION AMENDING RESOLUTION 15041 BY AUTHORIZING THE EXPENDITURE OF
FUNDS FOR ACQUISITION OF AN ALTERNATIVE SITE AT 105 CANAL STREET, IN
FULFILLMENT OF THE AFFORDABLE HOUSING TRUST FUND 2021 NOTICE OF FUNDING
AVAILABILITY (NOFA)
WHEREAS, on January 21, 2020, the City Council adopted Resolution No. 14760, establishing
Guidelines for the Administration of the Affordable Housing Trust Fund; and
WHEREAS, on November 12, 2021, the City issued a Notice of Funding Availability (NOFA) for
funding from the Housing In-Lieu Fee Fund to support affordable housing, with an application deadline
of December 23, 2021 by 5:00pm; and
WHEREAS, the City received four responses to the NOFA, including a funding request from
Canal Alliance for the acquisition of a property on Belvedere St.; and
WHEREAS, on March 7, 2022, the City Council adopted Resolution 15041, authorizing a
$400,000 loan from the Housing In-Lieu Fee Fund (#243) for the Canal Alliance for acquisition of the
property on Belvedere St., and providing a 24-month period in which the City Council could award the
funding to an alternative site at its sole discretion upon request from Canal Alliance; and
WHEREAS, Canal Alliance did not acquire the site identified in its original application and has
identified the property at 105 Canal Street as an alternative site within the 24-month timeframe; and
WHEREAS, a revised application has been reviewed using the evaluation criteria listed in
Section 5 of the Guidelines for the Administration of the Affordable Housing Trust Fund; and
WHEREAS, based upon this evaluation criteria and the needs for local support for the
development of affordable housing, a funding recommendation has been developed; and
WHEREAS, the City has sufficient funds in the Housing In-Lieu Fee Fund #243 to issue the loan
included in the recommendation and the funding request included in the funding recommendation meets
the criteria for use of the funds.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Rafael
hereby amends the entirety of Paragraph i of Resolution 15041, Section 1 as follows:
i. $400,000 loan from the Housing In-Lieu Fee Fund (#243) for the Canal Alliance for
acquisition of the 12-unit apartment building at 105 Canal St. The project will be restricted
at an average of at or below 60% of Marin County Area Median Income set by the United
States Department of Housing and Urban Development (HUD AMI) as published by the
Marin Housing Authority. The average affordability in the project, however, will be achieved
over time through attrition as households move. At acquisition, the building shall qualify for
the loan if the in-place tenant household income average is at or below an average of up to
80% AMI. Upon vacancy, units shall be income restricted to individuals and households
earning at or below 60% AMI.
Resolution 15041 remains otherwise unchanged.
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I, LINDSAY LARA, Clerk of the City of San Rafael, hereby certify that the foregoing resolution was duly
and regularly introduced and adopted at a regular meeting of the City Council of said City held on
Monday the 6th day of February 2023, by the following vote, to wit:
AYES: COUNCILMEMBERS: Bushey, Hill, Kertz, Llorens Gulati & Mayor Kate
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
LINDSAY LARA, City Clerk