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HomeMy WebLinkAboutReso 47-22 Authorizing Application for, and Receipt of, Local Housing Trust Fund Program Funds Reso. No. 47-22, Item 4.8, Adopted 05/17/2022 Page 1 of 3 RESOLUTION NO. 47-22 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN AUTHORIZING APPLICATION FOR, AND RECEIPT OF, LOCAL HOUSING TRUST FUND PROGRAM FUNDS WHEREAS, a necessary quorum and majority of the Council members of the City of Dublin (“Applicant”) hereby consents to, adopts and ratifies this resolution; and WHEREAS, the State of California (the “State”) Department of Housing and Community Development (“Department”) is authorized to provide up to $57 million under the Local Housing Trust Fund (“LHTF”) Program from the Veterans and Affordable Housing Bond Act of 2018 (Proposition 1) (as described in Health and Safety Code section 50842.2 et seq. (Chapter 365, Statutes of 2017 (SB 3)) (“Program”); and WHEREAS, the Department issued a Notice of Funding Availability (“NOFA”) dated April 5, 2022, under the LHTF Program; and WHEREAS, the Applicant is an eligible Local Housing Trust Fund applying to the Program to administer one or more eligible activities using Program Funds; and WHEREAS, the Department may approve funding allocations for the LHTF Program, subject to the terms and conditions of Health and Safety Code Section 50842.2, the LHTF Program Guidelines, NOFA, Program requirements, the Standard Agreement and other related contracts between the Department and LHTF award recipients. NOW, THEREFORE, BE IT RESOLVED, the Dublin City Council confirms that: SECTION 1. If the Applicant receives an award of LHTF funds from the Department pursuant to the above referenced LHTF NOFA, it represents and certifies that it will use all such funds on Eligible Projects in a manner consistent and in compliance with all applicable state and federal statutes, rules, regulations, and laws, including, without limitation, all rules and laws regarding the LHTF Program, as well as any and all contracts the Applicant may have with the Department (“Eligible Project”). SECTION 2. The City of Dublin is hereby authorized to act as the trustee/manager in connection with the Department's funds to Eligible Projects pursuant to the above-described NOFA in an amount not to exceed $3,333,333 (the "LHTF Award"). SECTION 3. Applicant hereby agrees to match on a dollar-for-dollar basis the LHTF Award pursuant to Guidelines Section 104. Applicant hereby agrees to utilize matching finds on a dollar-for- dollar basis for the same Eligible Project for which Program Funds are used, as required by HSC Section 50843.5(c). Reso. No. 47-22, Item 4.8, Adopted 05/17/2022 Page 2 of 3 SECTION 4. Pursuant to Attachment 1 and the Applicant’s certification in this Resolution, the LHTF funds will be expended only for Eligible Projects and consistent with all program requirements. SECTION 5. Nonprofit Housing Trust Funds and Native American Tribe Housing Trust Funds agree to use Program Funds only for Eligible Projects located in cities and counties that submitted an adopted Housing Element that was found by the Department to be in compliance and that have submitted their Housing Element Annual Progress Report (APR) for the current year or prior year by the application due date. SECTION 6. Applicant shall be subject to the terms and conditions as specified in the Standard Agreement, H&S Section 50842.2 and LHTF Program Guidelines. SECTION 7. The City Manager, Linda Smith, is authorized to execute the LHTF Program Application, the LHTF Standard Agreement and any subsequent amendments or modifications thereto, as well as any other documents which are related to the Program or the LHTF Award to Applicant, as the Department may deem appropriate. PASSED, APPROVED, AND ADOPTED by the Dublin City Council on this 17th day of May, 2022 by the following vote: AYES: Councilmembers Hu, Josey, Kumagai, McCorriston and Mayor Hernandez NOES: ABSENT: ABSTAIN: ______________________________ Mayor CERTIFICATE OF THE ATTESTING OFFICER The undersigned, City Clerk of the City of Dublin does hereby attest and certify that the foregoing Resolution is a true, full and correct copy of a resolution duly adopted at a meeting of the Dublin City Council, which was duly convened and held on the date stated thereon, and that said document has not been amended, modified, repealed or rescinded since its date of adoption and is in full force and effect as of the date hereof. ATTEST: ______________________________ City Clerk ATTACHMENTS: 1. Summary of City of Dublin Commitment of Funding Reso. No. 47-22, Item 4.8, Adopted 05/17/2022 Page 3 of 3 Attachment 1: Summary of City of Dublin Commitment for Use of the Local Housing Trust Fund Program Funds and Matching Funds The City of Dublin’s Local Housing Trust Fund (LHTF) match and 100 percent of the requested LHTF Program funds will be used for a project proposed by BRIDGE Housing for 136 affordable rental units on an approximately 1.3-acre site located at 6501 Golden Gate Drive. The Dublin City Council has appropriated $7.1 million from the City’s LHTF and committed $2.9 million in Alameda County Measure A-1 Bond funds to the project contingent upon project financing. In addition, the project has received its necessary entitlements. Excluding two manager’s units, 100 percent of the project would be affordable to households earning an average of no more than 43 percent of area median income (AMI). BRIDGE Housing has committed that a minimum of 41 units in the project would be set aside for homeless persons, persons at risk of becoming homeless, and persons with special needs.