Title
Planning and Building Department, Planning Division, Long Range Planning Unit, Housing, Community and Economic Development Program, recommending the Board:
1) Adopt and authorize the Chair to sign Resolution 096-2020 for the submittal of a 2020 Community Development Block Grant (CDBG) Program application to the State of California Department of Housing and Community Development to provide up to $1,498,000 as funding for property acquisition required for affordable multifamily residential development; and
2) If awarded, authorize the Director of the Planning and Building Department, or designee, contingent upon approval by County Counsel and Risk Management, to execute the grant agreement and subsequent amendments thereto that do not affect the dollar amount or the term and to sign other grant-related documents.
FUNDING: Federal Community Development Block Grant Funds.
Body
DISCUSSION / BACKGROUND
The State of California Department of Housing and Community Development (the “Department”) issued a Notice of Funding Availability (“NOFA”) dated January 21, 2020, for the Community Development Block Grant (CDBG) Program.
Eligible applicants for CDBG grant assistance include a city or county that does not receive a direct allocation of CDBG funds from the United States Department of Housing and Urban Development (HUD) or is participating in an Urban County Agreement.
In response to the 2020 NOFA, the County of El Dorado (the “Applicant”) desires to submit a project application for an allocation of up to $1,498,000 of the CDBG Program funds for an acquisition loan to the development partnership of the Diamond Village Apartments, an 81-unit affordable multifamily housing development in Diamond Springs.
The CDBG application will support the County’s Housing Element Policy HO-1.18, which states that the County shall develop incentive programs and partnerships to encourage private development of affordable housing; and Measure HO-2013-21, which recommend...
Click here for full text