Title:
Title
Approval of the Submittal of an Application for the Affordable Housing and Sustainable Communities Grant, Choice Neighborhoods Initiative (CNI) Loan Commitment, and Section 108 Loan Program Contract for the Twin Rivers Transit Oriented and Light Rail Station Project
End
FileID
File ID: 2018-01741
Location
Location: Twin Rivers Development, District 3
Recommendation:
Recommendation
Adopt: 1) a City Council Resolution: a) authorizing the Sacramento Housing and Redevelopment Agency (SHRA), as designated Project Manager for the Twin Rivers Transit Oriented Development and Light Rail Station project (Project), to apply for an Affordable Housing and Sustainable Communities (AHSC) grant of up to $20,000,000 for Phase 2 of the Twin Rivers Transit Oriented and Light Rail Station Project (Project); and b) authorizing SHRA to execute the grant agreement and all documents required for participation in the AHSC program; and 2) a City Council Resolution: a) authorizing SHRA on behalf of the City, as co-grantee on the Choice Neighborhoods Implementation (CNI) grant, to issue a loan commitment of up to $8,000,000 of CNI funds for Phase 2 of the Project; and b) authorizing the City Manager to execute the Section 108 Loan Program Contract and related documents for Project infrastructure funds.
Contact: Tyrone Roderick Williams, Director, (916) 440-1316, Sacramento Housing and Redevelopment Agency
Body
Presenter: None
Attachments:
1-Description/Analysis
2-Resolution - AHSC Application
3-Resolution - CNI Commitment
4-Exhibit A - Loan Commitment
5-AHSC Round 4 Funding Guidelines
6-Detailed Site Map
Description/Analysis
Issue Detail: In 2015, the Housing Authority of the County of Sacramento as property owner and grantee/lead applicant along with the City of Sacramento as co-grantee/co-applicant were awarded a $30 million Choice Neighborhoods Implementation (CNI) Grant from the U.S. Department of Housing and Urban Development (HUD) for the...
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