To: Board of Supervisors
From: John Kopchik, Director, Conservation and Development
Report Title: Approval of $2,000,000 CDBG Loan and Related Documents for the Riverhouse Hotel Project in Martinez
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
1. APPROVE a loan of Community Development Block Grant (CDBG) funds in the amount of $2,000,000 to Eden Development Inc., and Riverhouse Associated L.P., a California Limited Partnership (Developer), for use in the rehabilitation of the Riverhouse Hotel project located at 700 Alhambra Avenue in the City of Martinez.
2. AUTHORIZE the Conservation and Development Director, or designee, to execute loan documents between the County and the Developer to evidence the $2,000,000 CDBG loan into an existing loan agreement, deed of trust and promissory note.
FISCAL IMPACT:
No General Funds Impact. CDBG funds are provided to the County on a formula allocation basis through the U.S. Department of Housing and Urban Development (HUD).
CFDA #14.218.
BACKGROUND:
On May 9, 2023, the Board of Supervisors (the "Board") approved the Contra Costa County Annual Action Plan for FY 2023/24 CDBG funds (the "Action Plan"). Originally, the Developer was awarded $2,000,000, in CDBG funds, under the affordable housing category, for the acquisition and rehabilitation of Riverhouse Hotel. The Riverhouse Hotel is located at 700 Alhambra Avenue in the City of Martinez, and as proposed, 75 affordable rental apartment units would be rehabilitated.
On January 21, 2025, the Board approved a Substantial Amendment to the County's FY 2023/24 Annual Action Plan to amend and revise the scope of work to specific items that may be completed on a smaller scale in 2025. The revised scope of work, as proposed, includes: parking lot improvements to address accessibility and compliance with the Americans with Disabilities Act; replace the security gate for improved clearance; perimeter fencing and landscape ...
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