Title
Adoption of Community Ownership Action Plan-Housing Element Program 3.2
Recommended Action
1. Adopt the Community Ownership Action Plan (Attachment 1 to the Council Report).
2. Adopt a Resolution of the City Council of the City of Mountain to Transfer and Appropriate $1,000,000 From the Below-Market-Rate Housing Fund to the Acquisition and Preservation Subfund to Fund Community-Owned Housing Projects as Part of the Community Ownership Action Plan, to be read in title only, further reading waived (Attachment 2 to the Council report). (Five votes required)
3. Adopt a Resolution of the City Council of the City of Mountain View to Appropriate $425,000 From the General Housing Fund to Fund Capacity-Building Efforts as Part of Implementing the Community Ownership Action Plan, to be read in title only, further reading waived (Attachment 3 to the Council report). (Five votes required)
4. Authorize the City Manager or designee to establish and implement a process, including appropriate safeguards and eligibility criteria, for evaluating and selecting Community-Owned Housing Projects for funding, and to approve and execute all funding agreements and related documents for selected projects, without returning to City Council, and direct the City Manager or designee to provide notice to City Council and the public of funding decisions within 30 days of executing all project-related funding documents.