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City of San Leandro <br />Meeting Date: February 3, 2014 <br />ONR x419 ` Staff Report <br />File Number: 13-618 Agenda Section: ACTION ITEMS <br />Agenda Number: 10.B. <br />TO: City Council <br />FROM: Chris Zapata <br />City Manager <br />BY: Cynthia Battenberg <br />Community Development Director <br />FINANCE REVIEW: Not Applicable <br />TITLE: Staff Report for a City of San Leandro HOME Investment Partnerships <br />Program (HOME) Funds Loan to Hello Housing to Assist in the Rehabilitation <br />of a Single -Family Home into an Affordable Rental Housing Unit Located at <br />324 Lille Avenue <br />���1Jil��i/_1:,'/t1�1�1:7Xd�]►�il���l�►1�7_��[�7�[+� <br />Staff recommends that the City Council adopt the resolution 1) approving the HOME Loan <br />Agreement for $100,000, Regulatory Agreement, Promissory Note, and Deed of Trust to <br />assist with the rehabilitation of a single-family home at 324 Lille Avenue into an affordable <br />rental housing unit; and 2) authorizing the City Manager to execute and deliver such other <br />instruments and to take such other actions as necessary to carry out the intent of this <br />resolution. <br />BACKGROUND <br />In May 2009, the Livermore Neighborhood Stabilization (NSP1) Program, a partnership of the <br />cities of Livermore, as the lead applicant, Berkeley, Fremont, San Leandro and Union City, <br />were successfully awarded funds from the State of California NSP1 Program authorized under <br />the Housing and Economic Recovery Act of 2008. The State identified Livermore and its <br />partner cities, including San Leandro (which became the Livermore NSP1 Consortium), as a <br />"Tier 2" recipient eligible for $2.23 million in federal NSP1 funds from the U.S. Department of <br />Housing and Urban Development (HUD). HUD appropriated NSP1 funds to address the <br />problem of foreclosed properties in need of rehabilitation. <br />The consortium selected the nonprofit Hello Housing as its contractor to purchase and <br />rehabilitate foreclosed and vacant properties. Since the program began in January 2010, <br />eleven properties have been acquired and rehabilitated through the NSP1 program in the <br />jurisdictions of Livermore (6), Fremont (1), San Leandro (3) and Union City (1). <br />Hello Housing was founded in San Francisco in 2005 with the mission to create housing and <br />City of San Leandro Page 1 Printed on 1128/2014 <br />