HomeMy WebLinkAboutCC Resolution 14862 (Affordable Housing Trust Fund Allocations)Page 1 of 2
RESOLUTION NO. 14862
RESOLUTION OF THE SAN RAFAEL CITY COUNCIL APPROVING A HOUSING TRUST LOAN
TO EDEN HOUSING FOR THE AFFORDABLE HOUSING DEVELOPMENT AT 999 THIRD
STREET IN AN AMOUNT NOT TO EXCEED $800,000, AND AUTHORIZING THE CITY MANAGER
TO EXECUTE LOAN DOCUMENTS AND ALL RELATED DOCUMENTS THAT MAY BE
REQUIRED BY OTHER SOURCES OF FINANCING FOR THE PROJECT
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 February 6, 2020, the City conducted a pre-application process to solicit
affordable housing proposals from stakeholders that would be interested in requesting funding from the
City’s Affordable Housing Trust Fund with the intention to inform stakeholders of an upcoming Notice
of Funding Availability (NOFA) announcement, and to get a better understanding of the range of
potential affordable housing projects that are planned in the San Rafael community that are potentially
eligible for trust funds; and
WHEREAS, during this pre-application phase, the City received six (6) submissions totaling
approximately $6.5 million in potential funding requests; and
WHEREAS, on June 5, 2020, the City issued a NOFA for one million six-hundred thousand
dollars ($1,600,000) of initial funding to spur the creation of affordable family rental housing with an
application deadline of June 19, 2020 by 5:00pm; and
WHEREAS, during this NOFA the City received four applications totaling $3.25 million in funding
requests, including an application from Eden Housing for the affordable housing development at 999
Third Street in San Rafael (“Whistlestop”); and
WHEREAS, applications were 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, the Whistlestop project was recommended for
funding as a loan in an amount up to $850,000 as result of being a new construction project and
providing housing for very low and extremely low-income households and substantial supportive
services; and
WHEREAS, the City has sufficient funds in the Affordable Housing Trust Fund #243 to be
appropriated for FY20/21 to support this loan;
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Rafael
hereby approves a housing trust loan to Eden Housing for the affordable housing development at 999
Third Street in an amount not to exceed $800,000, and authorizes the City Manager to execute loan
documents and all related documents that may be required in connection with other sources of
financing for the project, in a form to be approved by the City Attorney.
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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 5th day of October 2020, by the following vote, to wit:
AYES: COUNCILMEMBERS: Bushey, Colin, Gamblin, McCullough & Mayor Phillips
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
LINDSAY LARA, City Clerk