File #: 200029   
Type: New Business Status: Agenda Ready
Meeting Body: City Council
On agenda: 12/8/2020
Title: Eden Housing Notice of Funding Availability Proposal-1100 La Avenida
Indexes: 1100 La Avenida, Affordable Housing, Affordable Housing NOFA, Eden Housing, North Bayshore Precise Plan
Attachments: 1. Council Report, 2. ATT 1 - Revised NOFA Application from Eden Housing, 3. ATT 2 - Plan Set, 4. ATT 3 - City of Mountain View Affordable Housing NOFA, 5. ATT 4 - Analysis of Eden's Proposal
Related files: 201234

Title

Eden Housing Notice of Funding Availability Proposal-1100 La Avenida

Recommended Action

The Notice of Funding Availability Review Committee recommends that the City Council:

 

1.                     Reserve $15,000,000 in Below-Market-Rate funds for the Eden Housing Notice of Funding Availability application. 

 

Staff recommends the City Council appropriate the following funds from the $15,000,000 reservation:

 

1.                     Appropriate $1,000,000 in Below-Market-Rate funds to predevelopment costs and authorize the City Manager to enter into an agreement with Eden Housing for the use of the predevelopment funds.  (Five votes required) 

 

2.                     Appropriate an additional $300,000 in Below-Market-Rate funds for staff time, environmental, parking, and other special studies for this project.  (Five votes required)