BACKGROUND: In response to the Fiscal Year 2024-2025 Notice of
Funding Availability (“NOFA”) announcing approximately $3,100,000
and the HOME Investment Partnership Program (HOME) NOFA
announcing approximately $440,000 of funds for acquisition,
development, and rehabilitation of affordable housing; the Housing
Authority received five applications requesting approximately $4.6
million for 230 total affordable units. Four applications were received for
new construction projects and one application was received for a
rehabilitation project.
The projects were evaluated and ranked based on project readiness,
affordability, bedroom size, special needs set asides, leveraging, project
competitiveness, developer and management experience, services and
amenities, and other factors. A NOFA Ad-Hoc Committee comprised of
Commissioners Conte and Smith met on October 3, 2024, to review the
projects and scoring details. The Ad-Hoc Review Committee is
recommending funding for four of the five applications received.
RECOMMENDATION: It is recommended by the Housing and
Community Services Department that the Housing Authority, by
resolutions, approve conditional commitments of loan funds to: 1)
Burbank Housing Development Corporation in the amount of
$1,000,000 for rehabilitation costs for West Avenue Apartments located
1400 West Avenue; 2) Stony Point Flats, L.P. in the amount of
$600,000 for construction-related costs for Stony Point Flats located at
2270 Stony Point Road; 3) BRJE Phase 3 Housing Partners, L.P. in the
amount of $832,500 for predevelopment and construction-related costs
for Laurel at Perennial Park Phase III located at 250 Renaissance Way;
and 4) Danco Communities in the amount of $750,000 for
predevelopment and construction-related costs for Ponderosa Village
located at 250 Roseland Avenue.
Rebecca Lane, Program Specialist, gave a presentation and
answered Commissioner questions.
Nick Wilder, Related California, assisted in providing information to
the Commissioners.
Public Comments:
Duane DeWitt made comments regarding the projects listed in the
NOFA, raised questions about funding and the contaminated land
where they are proposed, and expressed concerns regarding the
cost of building the affordable units.