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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO • RESOLUTION NO. 2014-009 RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A HOME INVESTMENT PARTNERSHIPS PROGRAM (HOME) LOAN AGREEMENT WITH HELLO HOUSING FOR FINANCING THE REHABILITATION OF A SINGLE-FAMILY HOME INTO AN AFFORDABLE RENTAL HOUSING PROJECT LOCATED AT 324 LILLE AVENUE WHEREAS, the Housing and Economic Recovery Act of 2008 authorized Neighborhood Stabilization (NSPI) Program funds to address the problem of abandoned and foreclosed homes; and WHEREAS, the City of San Leandro partnered with the cities of Alameda, Berkeley, Fremont, Livermore, and Union City to create the Livermore NSPI Consortium to jointly apply to the State of California for the NSPI funds; and WHEREAS, in May 2009 the State of California awarded the Livermore NSPI Consortium with $2.23 million NSPI funds to purchase and rehabilitate foreclosed and vacant single-family residential properties; and WHEREAS, the Livermore NSPI Consortium selected Hello Housing (the "Developer"), a California nonprofit public benefit corporation, as its contractor, and Developer has acquired, rehabilitated, and resold eleven single-family residential homes to income eligible households; and WHEREAS, Developer has acquired an NSPI real property identified as Assessor's Parcel No. 75-0167-010 in the City of San Leandro, County of Alameda, as more particularly described on Exhibit A attached hereto and incorporated herein by reference (the "Property"); and WHEREAS, City is a participating jurisdiction in the Alameda County 1-IOME Consortium and is a recipient of funds pursuant to the HOME Investment Partnership Act, established by the National Affordable Housing Act of 1990 (42 USCA j 12471, ei seq.) that are subject to certain restrictions established by the United States Department of Housing and Urban Development under 24 CFR 92; and WHEREAS, Developer has requested a HOME loan from the City in the principal amount of One Hundred Thousand Dollars ($100,000) for rehabilitation of the Property (the "HOME Loan") to serve as permanent, supportive housing for individuals with physical disabilities and/or development disabilities who qualify under the California Community Transition (CCT) demonstration project in Alameda County, which is a federally funded program administered by the California Department of Health Care Services, . designed to assist individuals who are currently residing in an institutional setting and would prefer to transition into the community where they would receive quality, cost-effective services; and