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AN City of San Leandro <br />Meeting Date: February 3, 2014 <br />ONR x419" ` Resolution - Council <br />File Number: 13-619 Agenda Section: ACTION ITEMS <br />Agenda Number: <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: RESOLUTION Authorizing the City Manager to Execute a HOME Investment <br />Partnerships Program (HOME) Loan Agreement with Hello Housing for <br />Financing the Rehabilitation of a Single -Family Home into an Affordable <br />Rental Housing Project Located at 324 Lille Avenue (authorizes the execution <br />of a $100,000 HOME loan agreement for the 324 Lille Avenue Project) <br />WHEREAS, the Housing and Economic Recovery Act of 2008 authorized <br />Neighborhood Stabilization (NSP1) Program funds to address the problem of abandoned and <br />foreclosed homes; and <br />WHEREAS, the City of San Leandro partnered with the cities of Alameda, Berkeley, <br />Fremont, Livermore, and Union City to create the Livermore NSP1 Consortium to jointly apply <br />to the State of California for the NSP1 funds; and <br />WHEREAS, in May 2009 the State of California awarded the Livermore NSP1 <br />Consortium with $2.23 million NSP1 funds to purchase and rehabilitate foreclosed and vacant <br />single-family residential properties; and <br />WHEREAS, the Livermore NSP1 Consortium selected Hello Housing (the "Developer"), <br />a California nonprofit public benefit corporation, as its contractor, and Developer has acquired, <br />rehabilitated, and resold eleven single-family residential homes to income eligible households; <br />and <br />WHEREAS, Developer has acquired an NSP1 real property identified as Assessor's <br />Parcel No. 75-0167-010 in the City of San Leandro, County of Alameda, as more particularly <br />described on Exhibit A attached hereto and incorporated herein by reference (the "Property"); <br />and <br />WHEREAS, City is a participating jurisdiction in the Alameda County HOME Consortium <br />and is a recipient of funds pursuant to the HOME Investment Partnership Act, established by <br />the National Affordable Housing Act of 1990 (42 USCA §12471, et seq.) that are subject to <br />City of San Leandro Page 1 Printed on 1/28/2014 <br />