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File Number: 22-260 BACKGROUND/ANALYSIS The primary source of funding for Abode is the Alameda County Measure A-1 Bond Funds base allocation for San Leandro (City A-1), approved by Alameda County voters in 2016, that is approximately $5 million. The City was required to obligate these remaining funds by the end of December 2021. The obligation was completed with the City Council’s adoption of Resolution No. 2021-120 on July 19, 2021. The second source of funding is the State Housing and Community Development Department (State HCD) Permanent Local Housing Allocation (PLHA) where the City received approximately $350,000 for calendar year 2019. In 2017, the California Legislature approved Senate Bill 2 (SB 2), known as the Building Homes and Jobs Act (Act), which established a $75 recording fee on real estate documents to increase the supply of affordable housing. The Act’s PLHA program is administered by the California Department of Housing and Community Development (HCD). The PLHA provides a permanent source of funding to cities and counties to help meet affordable housing needs by increasing the supply of affordable housing units. The City submitted a PLHA funding application in 2020 to the State and was approved to receive an estimated total of $2.1 million over a five year period from 2019 to 2023. The third source of funding identified and is recommended for award to this project is the City Low-Mod Housing Asset Fund, which includes repayments from prior affordable housing loans from former Redevelopment Agency funding. Abode is a mission-based nonprofit that has served California for more than 50 years. It utilizes a multi-disciplinary and collaborative approach and is well known as a service-enhanced affordable and supportive housing provider. It also has demonstrated innovation in sustainable or LEED design and development. Abode built and operates 48 affordable housing communities in California with over 3,000 units. The proposed 72-unit affordable family housing project will be 100% affordable to primarily very low- and extremely low-income renters. The City’s regulatory agreement will restrict affordability for about 35 units or less than 50% of the 72 units per Article 34 under State law, but the project will be 100% affordable because the other State and/or federal public financing that Abode will obtain requires that the project be entirely affordable. The 72 units will consist of 3 studios, 32 one-bedroom, 19 two-bedroom, and 18 three-bedroom. One of the units will be for an on-site manager. Abode plans to set aside about 20 units for permanent supportive housing for homeless and at-risk homeless families and households. Per the City’s 2015-2023 Regional Housing Needs Allocation (RHNA) mandate, the City still has to build 518 very low- and low-income units. Therefore the 72 units proposed by Abode will help meet the State-mandated affordable housing production goal. Shared amenities in the development will include a resident’s center with programming provided by Abode, landscaped courtyard, play area and laundry. There will be 73 automobile parking spaces and 80 bicycle parking spaces. The City loan’s terms are 3% interest over a 55 year affordability term. Abode intends to use City Page 2 City of San Leandro Printed on 4/27/2022