Title:
Title
Twin Rivers Transit Oriented Development and Light Rail Station - Project Update Report, Application for Multifamily Housing Program Loan for Blocks A and B, and Commitment of Choice Neighborhoods Funds to Twin Rivers Block B
End
FileID
File ID: 2019-00498
Location
Location: 321 Eliza Street, District 3
Recommendation:
Recommendation
Adopt as the Choice Neighborhood Implementation (CNI) co-grantee: 1) a City Council Resolution authorizing the Sacramento Housing and Redevelopment Agency (SHRA) and McCormack Baron Salazar (Developer) for the Twin Rivers Transit Oriented Development and Light Rail Station project (Project), to apply to the California Department of Housing and Community Development (HCD) for a Multifamily Housing Program (MHP) loan of up to $8,500,000 for Block A of the Project; 2) a City Council Resolution authorizing SHRA and the Developer to apply to HCD for a MHP loan of up to $7,500,000 for Block B of the Project; and 3) a City Council Resolution authorizing SHRA to issue a loan commitment to the Developer for up to $5,500,000 of CNI funds for Block B of the Project.
Contact: Victoria Johnson, Program Manager, (916) 440-1388, Sacramento Housing and Redevelopment Agency
Body
Presenter: None
Attachments:
1-Description/Analysis
2-Conceptual Site Plan
3-Vicinity Map Blocks A and B
4-TCC Project Area Map
5-Project Summary - Block B
6-Resolution - MHP Application Block A
7-Resolution - MHP Application Block B
8-Resolution - CNI Loan Commitment
9-Draft Loan Commitment Letter
Description/Analysis
Issue Detail: In 2015, the Housing Authority of the County of Sacramento (HACOS) and the City of Sacramento (City) were, as co-grantees, awarded a $30 million Choice Neighborhoods Implementation (CNI) Grant from the US Department of Housing and Urban Development (HUD) for the Twin Rivers Transit Oriented Development and Light Rail Station project ( the "Project"). The Sacramento Housing and Redevelopment Agency (SHRA) is ...
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