HomeMy WebLinkAboutRDA 02 (HELP) HSNG 10-02-00AGENDA REPqRT
RDA No. 02
10-02-00
TO:
WILLIAM A. HUSTON, CITY MANAGER
FROM:
REDEVELOPMENT AGENCY STAFF
SUBJECT:
APPLICATION FOR HOUSING ENABLED BY LOCAL PARTNERSHIPS
PROGRAM (HELP) FUNDS FROM CALIFORNIA HOUSING FINANCE
AGENCY
SUMMARY
Agency approval is requested for the submission of an application for Housing Enabled
by Local Partnerships (HELP) funds from California Housing Finance Authority.
RECOMMENDATION
It is recommended the Tustin Community RedevelOpment Agency 1.) adopt Resolution
RDA 00-6 approving the submission of an application to the California Housing Finance
Agency (CHFA) for $2,000,000 in Housing Enabled by Local Partnerships ("HELP',)
funds; and 2.) if the application for funding is approved, the Redevelopment Agency
agrees to use the HELP Program funds for-eligible activities in the manner presented in
the application as approved by CHFA.
FISCAL IMPACT
This action will have no fiscal impact on the City or Redevelopment Agency at this time.
BACKGROUND/DISCUSSION
The California Housing Finance Agency ("CHFA") has initiated the Housing Enabled by
Local Partnerships Program ("HELP" Program) to provide funding assistance for
affordable housing opportunities through program partnerships with local government
entities. The HELP Program funds are used by local government entities for current
unmet affordable housing needs and priorities as determined by each participating locality
through its Housing Elements, Consolidated Plans and other documentation as required
by the HELP Program.
The HELP Program is used as a flexible tool to help facilitate a more comprehensive
development and revitalization effort that includes the upgrading and/or addition of both
single family ownership and multifamily rental housing in the target communities.. The
program funds, must be used to provide housing units that are affordable for at least 10
years, with "affordable" being defined in the context of the unmet housing needs and
priorities of the locality. Eligible activities under the program include acquisition,
rehabilitation, in-fill, predevelopment, development, construction, code enforcement and
other housing-related development and revitalization efforts.
William A. Huston
Authorization for HELP Program Application
October 2, 2000
Page 2
The HELP Program provides up to $2,000,000 to local government entities as an
unsecured loan from CHFA for up to ten (10) years at three, percent (3%) simple interest
per annum with certain minimal restrictions and conditions:' The program uses a Loan-to-
Lender format where the local government entity contracts to repay CHFA and re-lend or
otherwise utilizes the funds for its stated purpose. The program stipulates that the
repayment of such loans is required no later than ten (10) years from the date a
commitment/loan agreement is signed between CHFA and a government entity. The local
govemment entity is not required to provide property or other resource as collateral.
In the event the Agency's application is approved, any required program documents will
be brought back to the Agency for approval.
Staff will be available at the Agency meeting to answer any questions the Agency may
have.
mes DraCg~n
Senior Proj~-ct Manager
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RESOLUTION NO. RDA 00-6
A RESOLUTION OF THE TUSTIN ' COMMUNITY
REDEVELOPMENT AGENCY, AUTHORIZING THE EXECUTIVE
DIRECTOR TO APPLY FOR HOUSING ENABLED BY LOCAL
PARTNERSHIPS PROGRAM ("HELP") FUNDS FROM THE
CALIFORNIA HOUSING FINANCE AGENCY FOR THE
REHABILITATION, CONVERSION OR CONSTRUCTION OF
AFFORDABLE HOUSING UNITS
The Tustin Community Redevelopment Agency DOES HEREBY RESOLVE as
follows:
I. The Tustin Community Redevelopment Agency finds and determines as follows:
Ao
Pursuant to the California Community Redevelopment Law (Health and
Safety code Section 33000 et seq.), the Tustin Community Redevelopment
Agency is engaged in activities necessary to execute and implement a
redevelopment plan; and
B,
The California Housing Finance Agency ("CHFA") has initiated the Housing
Enabled by Local Partnerships Program ("HELP" Program) to provide
affordable housing opportunities through program partnerships with local
government entities consistent with affordable housing priorities of the
locality;
Co
The HELP Program provides funds to local government entities as an
unsecured loan from CHFA for up to ten (10) years at three percent (3%)
simple interest per annum with certain minimal restrictions and conditions;
Do
E.
Fo
G,
The HELP Program stipulates that the repayment of such loans is required
no later than ten (10) years from the date a commitment/loan agreement is
signed between CHFA and a government entity;
The HELP Program funds must be used by local government entities for
current unmet affordable housing needs and priorities as determined by each
participating locality through Housing Elements, Consolidated Plans and
other documentation as required by the HELP Program;
Participating local jurisdictions must have general housing elements that
conform with requirements of Article 10.6 of Chapter 3 of Division I of Title 7
of the Government Code (Government Code 65580 et seq.); and
The Tustin Community Redevelopment Agency wishes to apply for an
allocation of funds through the HELP Program as a tool to f~cilitate a more
comprehensive revitalization and construction efforts that includes
conversion and construction of family ownership housing and special needs
housing opportunities.
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Resolution No. RDA 00-6
Page 2
NOW THEREFORE, BE IT RESOLVED that the Tustin C(~mmunity Redevelopment
Agency:
1. Authorizes the submission of an application to the California Housing Finance
Agency for $2,000,000 in Housing Enabled by Local Partnerships Program (HELP) funds.
The Executive Director is authorized to submit an application necessary to meet the
requirements of the HELP Program.
2. If the application for funding is approved, the Community Redevelopment
Agency agrees to use the HELP Program funds for eligible activities in the manner
in the application as approve by CHFA.
PASSED AND ADOPTED at a regular meeting of the Tustin Community
Redevelopment Agency held on the 2nd day of October 2000.
Jeffery M. Thomas, Chair
Tustin Community Redevelopment Agency
PAMELA STOKER
Recording Secretary
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF TUSTIN )
SS
RESOLUTION NO. RDA 00-6
Pamela Stoker, Recording Secretary of the Tustin Community Redevelopment Agency
of the City of Tustin, California, does hereby certify that the whole number of the
members of the Tustin CommunitY Redevelopment Agency is five; that the above and
foregoing resolution was passed and adopted at a regular meeting of the Tustin
Community Redevelopment Agency held on the 2nd day of October, 2000, by the
following vote:
AGENCY MEMBER AYES:
AGENCY MEMBER NOES:
AGENCY MEMBER ABSTAINED:
AGENCY MEMBER ABSENT:
Pamela Stoker, Recording Secretary
JD:CAS:kd~rdaresos\00-6.doc