City Hall, Council Chamber

100 Santa Rosa Avenue

Santa Rosa, CA

City of Santa Rosa

Housing Authority

Regular Meeting Minutes - Final

Monday, February 23, 2026

1:30 PM

1. CALL TO ORDER

Chair Smith called the meeting to order at 1:30PM

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

None

3. ROLL CALL

6 -

Present

Chair Andrew Smith, Vice Chair Claudia Cappio, Commissioner

Angela Conte, Commissioner Gregory Fearon, Commissioner Jeffrey

Owen, and Commissioner Scott Wimmer

1 - Commissioner Wayne Downey Ph. D

Absent

4. STATEMENTS OF ABSTENTION

None

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.

Kate Goldfine, Administrative Services Officer and Megan Basinger,

Executive Director, presented the item for information only and

responded to commissioner's questions.

Public Comment:

Janice Karrman reported concerns about a Section 8 participant’s

paperwork delay due to limited notice of the alternating Friday

citywide closure and requested earlier communication to help

participants meet strict deadlines.

6. STUDY SESSION

None

7. PUBLIC COMMENTS (ON NON-AGENDA ITEMS)

Public Comment:

Janice Karrman requested that the City's Boards and Commissions

meeting schedule be reviewed to prevent overlap and improve

public access.

8. APPROVAL OF MINUTES

8.1

Draft Minutes January 26, 2026.

Approved as submitted.

Public Comment:

None

9. CHAIRMAN/ COMMISSIONER REPORTS

None

10 COMMITTEE REPORTS

None

11. EXECUTIVE DIRECTOR REPORTS/ COMMUNICATION ITEMS:

11.1

PENDING DEVELOPMENT PIPELINE UPDATE - Provided for

information.

Megan Basinger, Executive Director, presented the Housing

Pipeline for information only and responded to commissioner's

questions.

Public Comment:

Fred Allebach asked staff how the pipeline's Area Median Income

levels align with the RHNA (Regional Housing Needs Allocation) and

if they do not, what remedies may be available.

12. CONSENT ITEMS

None

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.

Koy Stewart, Program Specialist, along with Kelli Kuykendall,

Manager and Megan Basinger, Executive Director, provided a

presentation and responded to commissioner's questions.

Public Comment:

Kim August, Chief Financial Officer of Burbank Housing, responded

to commissioner and public questions regarding the sale of the

Cypress Ridge Apartments.

Fred Allebach expressed concern about the proposed sale of the

Cypress Ridge housing project, noting that mixed mission

ownership can lead to tenant issues, citing similar complaints

following the purchase of a mobile home park in the Sonoma Valley.

Janice Karrman expressed concerns about Burbank Housing's

property management practices based on feedback she has heard

from current tenants.

A motion was made by Commissioner Fearon, seconded by Commissioner

Wimmer, to adopt 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.. The motion

carried by the following vote:

6 -

Yes:

Chair Smith, Vice Chair Cappio, Commissioner Conte,

Commissioner Fearon, Commissioner Owen and Commissioner

Wimmer

1 - Commissioner Downey Ph. D

Absent:

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.

Annette Anthony, Manager, provided an informational presentation

on the HUD-VASH program and along with Megan Basinger,

Executive Director, responded to commissioner questions.

Commissioner Fearon provided input on the VA’s below 100%

lease up rate and asked why a $50 minimum rent is required and

how the Board can support efforts to reduce it to zero.

Commissioner Conte recommended that Staff establish a

commissioner committee to improve and accelerate communication

with VASH regarding strategies to increase lease-up efforts.

Public Comment:

None

14. ADJOURNMENT

Seeing no further business Chair Smith adjourned the meeting at

3:44p.m.

Approved on: March 23, 2026

/s/ Ashley Paul, Recording Secretary