Title
Adopt City Council Resolution Authorizing Submission of Co-Application with Danco Communities for Permanent Local Housing Allocation Program Non-Entitlement Local Government Competitive Funds in the Amount of $2,400,000 to Support the Development of a 69-Unit Affordable Housing Project Located at 441 South Street
Summary
In 2017, Governor Brown signed a 15-bill housing package aimed at addressing the state’s housing shortages and high housing costs. Specifically, it included the Building Homes and Jobs Act (SB2, 2017), which provides funding to the California Department of Housing and Community Development (HCD) Permanent Local Housing Allocation (PLHA) program.
Eligible activities under the PLHA Notice of Funding Availability (NOFA) include:
1. Development of new multifamily rental housing that is affordable to households at or below 60 percent of area median income (AMI) or substantial rehabilitation of multifamily rental housing that will be affordable to households at or below 60 percent of AMI, but which is not currently restricted as affordable housing. In order to be eligible as “substantial rehabilitation,” a project must complete a minimum of $40,000 per unit in hard construction costs; or
2. Assistance to persons who are experiencing or at risk of homelessness, including, but not limited to, through rapid re-housing, rental assistance, supportive services, and case management services that allow people to obtain and retain housing, operating and capital costs for Navigation Centers, or new construction, rehabilitation, or preservation of permanent or transitional rental housing.
The City has been working with Danco, the developer of The Cottages at Cypress, on a 69-unit affordable housing project currently under construction at 441 South Street, called The Plateau. The Plateau includes 20-units of Permanently Supportive Housing (PSH), which is designed to assist persons experiencing homelessness by providing affordable housing linked to a rang...
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