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Title:
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REPORT - 2018 NOTICE OF FUNDING AVAILABILITY - ROUND 2 FUNDING RECOMMENDATIONS: (1) CONDITIONAL FURTHER ADVANCE COMMITMENT IN THE AMOUNT OF $285,000.00 TO COMMUNITY HOUSING SONOMA COUNTY FOR HEARN VETERANS VILLAGE, 2149 WEST HEARN AVENUE AND (2) CONDITIONAL LOAN COMMITMENT IN THE AMOUNT OF $200,000 TO DANCO COMMUNITIES FOR BOYD STREET APARTMENTS, 811 BOYD STREET
BACKGROUND: In response to a Notice of Funding Availability (“NOFA”) issued July 26, 2018, announcing approximately $4.1 million of federal and local funds for affordable housing, the Housing Authority received 11 applications requesting almost $22 million. On October 22, 2018, the Housing Authority approved funding for two projects totaling $3.7 million and deferred consideration of additional commitments for remaining funds. On December 12, 2018, the NOFA Ad Hoc Committee and staff reviewed the remaining nine applications and selected four for further consideration of the remaining NOFA funds. One applicant declined to be...
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