HomeMy WebLinkAbout8.2 BMR Rental Monitoring Program i
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'��`�'���,� STAFF REPORT
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���r���`r HUMAN SERVICES COMMISSION
DATE: May 26, 2016
TO: Honorable Chair and Commissioners
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FROM: Micki Cronin,Assistant Director of Parks and Community Ser�ices ,,�/�(t,�Gl [,,�,C�Gt.�tt�,�
SUBJECT: City of Dublin Below Market Rate (BMR) Rental Monitoring Program
Prepared by Kim Obstfeld, Housing Speciali.rt
IXECUTIVE SUMMARY:
The Comtnission will be presented with an overview of the annual rental monitoring program and the results
of this year's monitoring.
FINANCIAL IMPACT:
None.
RECOMMENDATION:
Receive the Report.
DESCRIPTION:
Background
BMR apartment rental units in Dublin are provided by private developers for households that meet certain
income limits. Some are located within market-rate apartment communities and were established to meet
affordable unit requirements under the City's inclusionary zoning regulations. Others are included in all-
affordable communities that were developed with financial assistance from the City's Affordable Housing
Fund and are operated by non-profit housing organizations. For both types, developers have entered into an
agreement with the City to establish the number of BMR units, level of affordability (very low, low, and/or
moderate), affordability term, occupancy requirements, and other provisions. BMR rental units are rypically
income restricted for a term of 55 years to ensure that there is a stock of affordable rental housing available
into the future. Housing agreements also stipulate that City staff will monitor each development for
compliance on an annual basis.
Annual monitoring includes a report provided to City staff by the properry manager and an on-site review of
the unit/tenant files to verify that the units are rented in compliance with the housing agreement and the
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inclusionary zoning regulations. Housing staff reviews the income and asset information for residents to
confirm that the occupants meet all eligibility requirements. Once the monitoring is complete, staff prepares a
letter to the properry manager stating the outcome of the review. If no compliance issues are idenrified, the
development is provided a letter indicating such. If compliance issues are identified, the letter identifies the
concern(s) and a detailed plan of acrion to cure the concern(s) within a specified rime frame.
2015 Monitoring Findings
In calendar year 2015, 11 developments were monitored for rental compliance. These developments provide a
total of 1,031 BMR rental units. Based on 2015 calendar year reports, occupied units housed a total of 2,124
Dublin residents. There were two developments with initial administrative compliance issues that have since
been resolved. The below table idenrifies the developments that were monitored for calendar year 2015:
Rental Com lex Total Units Total Affordable Units
Avalon at Dublin Station 505 50
5200 Iron Horse Parkwa
Avana Dublin Station 177 2
6233 Dou her Road
Eclipse at Dublin Station 305 30
5300 Iron Horse Parkwa
Camellia Place 112 111 ;
5450 DeMarcus Boulevard
CaYlow Court 50 49
6880 Mari osa Circle
Fairway Family- Oak Grove 304 243
4161 Kee an Street
Park Sierra Apartments 283 57
6450 Dou her Road
The Groves -Dublin Ranch Senior Apartments 322 292
3115 Finnian Wa
Tralee Village Apartments 130 16
6549 Bantree Wa
Wexford Way Apartments 130 129 '
6900 Mari osa Circle
Wicklow Square Apartments 53 52 '
7606 Amador Valle Boulevard
Total BMR Rental Units 1,031
Annual reports showed that nearly all BMR units are occupied. Vacant BMR units included those that were
only temporarily vacant during the course of a move-out and move-in and units that were designated but still
in the process of initial lease-up in the second phase of Avalon Dublin Station (25 moderate-income units
that began leasing in phases beginning in November 2015 —all BMR units should be available for occupancy
by June 2016). According to property managers, most properties maintain waitlists that range from
appro�nately three months to three or more years, depending on the properry, unit size, and level of
affordabiliry. High market rate rents in Dublin and throughout the greater Bay Area have contributed to a :
strong demand for affordable housing. Vacancy conrinues to be low among market rate units as well. Many
managers reported market rate occupancy at approxirriately 96 percent.
All but one of the properries monitored are currendy participaring in the Ciry's Crime Free Mulri-Housing
Program. The only development not already parricipating is in the process of obtaining necessary approvals. '
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Property managers noted that the representative officer makes frequent visits to the site and keeps them
informed regarding any issues or potenrial issues with units or tenants.
BMR Rental Units in Progress
Dublin Family Apartments, a 66-unit affordable rental communiry targeted for occupancy by veterans of the ,
U.S. military, is currendy under construction. The project broke ground in November 2015 and it is
anticipated that it will be ready for initial occupancy in early 2017. Eden Housing, a non-profit housing
developer that owns and operates Carlow Court, Wexford Way, and Wicklow Square, is developing the
project. The City has provided financial assistance through a low-interest loan from the City's Affordable
Housing Fund. Staff will work with Eden to ensure that the initial lease-up is completed in compliance with
the City agreement and will initiate annual monitoring for this property beginning in the 2017 calendar year.
NOTICING REQUIREMENTS/PUBLIC OUTREACH: .
None.
ATTACH M ENTS: �
1. Map of BMR Rental Properties
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