City of Chula Vista - File #: 17-0424

• File #: 17-0424
• Type: Action Item
• Status: Passed
• In control: City Council
• On agenda: 10/10/2017
• Final action: 10/10/2017
• Title: CONSIDERATION OF A LOAN FOR THE PURCHASE OF REAL PROPERTIES LOCATED AT 750 AND 754-760 ANITA STREET FOR THE FUTURE DEVELOPMENT OF AFFORDABLE HOUSING RESOLUTION NO. 2017-188 OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA AND NO. 2017-004 OF THE HOUSING AUTHORITY, IN ITS CAPACITY AS THE SUCCESSOR HOUSING ENTITY WITHIN THE MEANING OF HEALTH AND SAFETY CODE SECTION 34176, (1) APPROVING A LOAN OF UP TO $3,300,000 FOR LAND ACQUISITION AND PRE-DEVELOPMENT EXPENSES TO WAKELAND HOUSING AND DEVELOPMENT CORPORATION OR AN AFFILIATED DEVELOPMENT ENTITY FOR A NEW DEVELOPMENT TO BE LOCATED AT 750 AND 754-760 ANITA STREET AND RELATED COVENANTS TO OFFER RENT- AND INCOME-RESTRICTED APARTMENTS FOR LOWER-INCOME HOUSEHOLDS; AND (2) AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO NEGOTIATE AND EXECUTE ALL DOCUMENTS RELATED TO THE LOAN AND THE ACQUISITION AND DEVELOPMENT OF THE SITES IN A FORM APPROVED BY THE CITY ATTORNEY'S OFFICE
• Sponsors: Leilani Hines
• Code sections: 19.90 - Affordable Housing Incentives
• Related files: 18-0186

Date	Action By	Action	Result
10/10/2017	City Council	approve	Pass

Title
CONSIDERATION OF A LOAN FOR THE PURCHASE OF REAL PROPERTIES LOCATED AT 750 AND 754-760 ANITA STREET FOR THE FUTURE DEVELOPMENT OF AFFORDABLE HOUSING

RESOLUTION NO. 2017-188 OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA AND NO. 2017-004 OF THE HOUSING AUTHORITY, IN ITS CAPACITY AS THE SUCCESSOR HOUSING ENTITY WITHIN THE MEANING OF HEALTH AND SAFETY CODE SECTION 34176, (1) APPROVING A LOAN OF UP TO $3,300,000 FOR LAND ACQUISITION AND PRE-DEVELOPMENT EXPENSES TO WAKELAND HOUSING AND DEVELOPMENT CORPORATION OR AN AFFILIATED DEVELOPMENT ENTITY FOR A NEW DEVELOPMENT TO BE LOCATED AT 750 AND 754-760 ANITA STREET AND RELATED COVENANTS TO OFFER RENT- AND INCOME-RESTRICTED APARTMENTS FOR LOWER-INCOME HOUSEHOLDS; AND (2) AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO NEGOTIATE AND EXECUTE ALL DOCUMENTS RELATED TO THE LOAN AND THE ACQUISITION AND DEVELOPMENT OF THE SITES IN A FORM APPROVED BY THE CITY ATTORNEY'S OFFICE

Body
RECOMMENDED ACTION
Recommended Action
Council / Authority adopt the resolution.

Body
SUMMARY
Wakeland Housing and Development Corporation ("Developer") is requesting a loan commitment for land acquisition and predevelopment costs of up to a total of $3,300,000 to support creation of new affordable rental housing for very low income households located at properties known as 750-752 and 754-760 Anita Street in the southwestern area of Chula Vista ("Project"). Approval of the recommended actions will enable Developer to assemble the necessary financing for the Project.

ENVIRONMENTAL REVIEW

Environmental Notice
Environmental Notice
The Director of Development Services has reviewed the proposed Project for compliance with the California Environmental Quality Act (CEQA) and has determined that the Project qualifies for a Class 32 infill development categorical exemption (15332) for new residential units on residential property consistent with the Residential Apartment (R-3) zoning designation, therefore no further environmental review or do...