associated with the demolition of the site.
RECOMMENDATION: It is recommended by the Housing and
Community Services Department that the Housing Authority, by
resolution, approve a reduction up to $272,000 to a prior conditional
commitment of loan funds in the amount of $5,800,000 to Freebird
Development Company, LLC for the Bennett Valley Apartments project
to allow funds to be utilized for demolition of the site prior to developer
acquisition.
Nicole Del Fiorentino, Housing and Community Services Manager,
gave a presentation and answered Commissioner questions.
Jason Nutt, Assistant City Manager, assisted in responding to
Commissioner questions.
Megan Basinger, Housing and Community Services Director,
assisted in responding to Commissioner questions.
Public Comments:
Robin Zimbler, Founder of Freebird Development, commented that
the buyer is fully supportive of the agreement, and that the Freebird
Development Environmental team has assessed no significant
environmental issues at the site.
A motion was made by Vice Chair Owen, seconded by Chair Test, to waive
reading of the text and adopt:
RESOLUTION NO. 1750 ENTITLED: RESOLUTION OF THE HOUSING
AUTHORITY OF THE CITY OF SANTA ROSA APPROVING A REDUCTION
UP TO $272,000 TO A PRIOR CONDITIONAL COMMITMENT OF LOAN
FUNDS IN THE AMOUNT OF $5,800,000 TO FREEBIRD DEVELOPMENT
COMPANY, LLC FOR THE BENNETT VALLEY APARTMENTS PROJECT TO
ALLOW FUNDS TO BE UTILIZED FOR DEMOLITION OF THE SITE PRIOR
TO DEVELOPER ACQUISITION.
The motion carried by the following vote:
6 -
Yes:
Chair Test, Vice Chair Owen, Commissioner Burke, Commissioner
LaPenna, Commissioner McWhorter and Commissioner Rawhouser
1 - Commissioner Downey Ph. D
Absent:
13. ADJOURNMENT
Seeing no further business, Chair Test adjourned the meeting at
2:13PM.