City Hall, Council

Chamber

City of Santa Rosa

100 Santa Rosa Avenue

Santa Rosa, CA

HOUSING AUTHORITY

REGULAR MEETING AGENDA AND

SUMMARY REPORT - FINAL

FEBRUARY 23, 2026

1:30 P.M.

ALL PUBLIC COMMENTS WILL BE PROVIDED IN PERSON

OR VIA EMAIL IN ADVANCE OF THE MEETINGS.

MEMBERS OF THE PUBLIC CAN PARTICIPATE IN THE MEETING

BY ATTENDING IN-PERSON FROM THE COUNCIL CHAMBER AT

100 SANTA ROSA AVENUE, SANTA ROSA.

THE PUBLIC CAN ALSO VIEW OR LISTEN TO THE MEETING LIVE AT:

1. HTTPS://SANTA-ROSA.LEGISTAR.COM/CALENDAR. CLICK ON THE

"IN PROGRESS" LINK TO VIEW;

2. VIA ZOOM WEBINAR BY VISITING

HTTPS://SRCITY-ORG.ZOOM.US/J/82627010956, OR BY DIALING

877-853-5257 AND ENTERING WEBINAR ID: 826 2701 0956;

3. COMCAST CHANNEL 28, AT&T U-VERSE CHANNEL 99; AND

4. VIA YOUTUBE AT HTTPS://WWW.YOUTUBE.COM/CITYOFSANTAROSA

IN THE EVENT A BOARD MEMBER PARTICIPATES REMOTELY

BASED ON JUST CAUSE UNDER THE BROWN ACT, THE CITY

WILL ALLOW FOR PUBLIC COMMENT THROUGH THE ZOOM

LINK OR DIAL-IN NUMBER ABOVE.

Comments from the public will be allowed on all agenda items at the

time each item is called. Comments on public hearing items may be

made when the hearing is opened.

Public Comment: Members of the public can provide public comment

on an Agenda Item In-Person from the Council Chamber.

E-mail Public Comment: To submit an e-mailed public comment to the

Housing Authority, please send to apaul@srcity.org by 12:00 p.m., on or

before February 20, 2026. Identify in the subject line of your e-mail the

Agenda Item Number on which you wish to comment, provide your

name in the body of the e-mail and your comment.

Public comments are limited to one comment per speaker per item.

1:30 P.M.

1. CALL TO ORDER

2. REMOTE PARTICIPATION UNDER THE BROWN ACT (Gov. Code § 54953.8)

This time is reserved for any Board Member to announce remote participation

under the “Just Cause” provision of Government Code Section 54953.8.

3. ROLL CALL

4. STATEMENTS OF ABSTENTION

5. STAFF BRIEFING

5.1

Housing Authority FY 2025/26 Quarter 2 Financial Update

This memo summarizes Housing Authority (“Authority”) expenditures

and funding for July 1, 2025 - December 31, 2025.

Memorandum

Attachments:

6. STUDY SESSION

7. PUBLIC COMMENTS (ON NON-AGENDA ITEMS)

Comments from the public will be allowed on all agenda items at the time

each item is called. This is the time when any person may address the

Housing Authority on matters not listed on this agenda, but which are within

the subject matter jurisdiction of the Housing Authority. Each speaker will be

allowed up to three minutes. To address the Housing Authority you are

requested to complete an orange Speaker Card and give it to the Recording

Secretary.

8. APPROVAL OF MINUTES

8.1

Draft Minutes January 26, 2026.

Attachments:

9. CHAIRMAN/ COMMISSIONER REPORTS

10 COMMITTEE REPORTS

11. EXECUTIVE DIRECTOR REPORTS/ COMMUNICATION ITEMS:

11.1

PENDING DEVELOPMENT PIPELINE UPDATE - Provided for

information.

Memorandum

Attachment 1

Attachments:

12. CONSENT ITEMS

13. REPORT ITEMS

13.1

REPORT - APPROVAL OF TRANSFER OF OWNERSHIP AND

ASSUMPTION OF HOUSING AUTHORITY REGULATORY

AGREEMENT AND LOANS FOR CYPRESS RIDGE APARTMENTS -

1815 MEDA AVENUE

BACKGROUND: Burbank Housing Development Corporation (BHDC) is

selling 1815 Meda Avenue, known as Cypress Ridge Apartments

(Project), currently owned by Meda Cypress Ridge, L.P., and has

entered into a purchase agreement with Post Cypress Ridge, L.P., an

affiliate of Post Investment Group. The Project is a 122-unit apartment

community affordable to households at 30%, 50%, and 60% of area

median income (AMI), with two (2) unrestricted manager’s units. The

Housing Authority has loans on the property, in the principal amount of

$1,881,729, maturing on October 27, 2049, and a Regulatory

Agreement securing affordability through December 10, 2059. As part of

this transaction, Post Investment Group is seeking the Housing

Authority’s approval to assume the loans and Regulatory Agreement;

extend the maturity date of the loans to December 10, 2059 to align with

the terms of the Regulatory Agreement; and subordinate to a first

mortgage, in the approximate amount of $14.1 million, to allow Post

Cypress Ridge, L.P. to purchase the property.

RECOMMENDATION: The Housing and Community Services

Department recommends that the Housing Authority, by resolution,

conditionally approve the following for Cypress Ridge Apartments,

located at 1815 Meda Avenue: 1) the transfer of ownership from Meda

Cypress Ridge, L.P. to Post Cypress Ridge, L.P.; 2) the assumption of

the Housing Authority Regulatory Agreement and loans, in the principal

amount of $1,881,729; 3) extension of the Housing Authority loans from

October 27, 2049 to December 10, 2059 to align with the terms of the

Regulatory Agreement; and 4) subordination of the Housing Authority

loans to a first mortgage, in the approximate amount of $14.1 million to

allow Post Cypress Ridge, L.P. to purchase the property.

Attachments:

13.2

HUD-VETERANS AFFAIRS SUPPORTIVE HOUSING (VASH)

PROGRAM - OVERVIEW OF HUD-VASH OPERATING

REQUIREMENTS

It is recommended by the Housing and Community Services Department

that the Housing Authority receive information regarding the Department

of Housing and Urban Development Veterans Affairs Supportive

Housing Program (HUD-VASH) and an overview of the operating

requirements. This item is for information only and no action will be

taken.

Staff Report

Presentation

Attachments:

14. ADJOURNMENT

The City of Santa Rosa does not discriminate against individuals (including member(s) of a legislative body) with disabilities in

its employment, services, benefits, facilities, programs, or activities. Requests for accommodations, auxiliary aids, or services

necessary to participate in a City program, service, or activity, including printed information in alternate formats, are available by

contacting the Recording Secretary at (707) 543-3300 (TTY Relay at 711) or [ENTER EMAIL ADDRESS]. The e-mail subject

line should read “ADA Accommodation Request” or “Language Assistance” and the email should include your name, address,

telephone number, and a description of the request. If the request is received at least seven (7) business days prior to the board

meeting, the copy shall be provided no later than two (2) business days prior to the board meeting. Meeting information can

also be accessed via the internet at http://srcity.org.