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File #: 20-400HA    Version: Name: Modification of Prior Funding Commitment
Type: HA- Consent Status: Agenda Ready
File created: 12/5/2019 In control: Housing Authority
On agenda: 12/16/2019 Final action: 12/16/2019
Title: RESOLUTION - DUTTON FLATS - MODIFY PRIOR FUNDING COMMITMENT TO ALLOW FUNDS TO BE USED FOR ACQUISITION, PRE-DEVELOPMENT AND/OR CONSTRUCTION RELATED COSTS AND TO EXTEND CONSTRUCTION DATES - 206, 208 AND 214 WEST THIRD STREET RECOMMENDATION: It is recommended by the Housing and Community Services Department that the Housing Authority, by resolution, modify a prior funding commitment of funds in the amount of $3,100,000 to Dutton Flats, LP to 1) allow funds to be utilized for all project costs including acquisition, predevelopment and/or construction-related costs, and 2) extend the construction start and completion dates by two months related to Dutton Flats, 41 multifamily rental units, located at 206, 208 and 214 West Third Street.
Sponsors: Housing and Community Services
Indexes: Exempt Project
Code sections: 15183 - Consistent with Community Plan, General Plan, or Zoning, 15332 - Infill Development
Attachments: 1. Staff Report, 2. Attachment 1 - Request to Modify Loan Terms, 3. Attachment 2 - HA Reso No. 1666, 4. Attachment 3 - Dutton Flats Locational Aerial, 5. Attachment 4 - Letter re Additional Cost, 6. Resolution