To: Contra Costa County Housing Authority Board of Commissioners
From: Joseph Villarreal, Executive Director
Report Title: AUTHORIZE THE SALE OF TWENTY-FIVE SCATTERED SITE BUILDINGS LOCATED ON EIGHTEEN PARCELS FROM THE FORMER LAS DELTAS PUBLIC HOUSING DEVELOPMENT AT FAIR MARKET VALUE AS DETERMINED BY A CERTIFIED APPRAISAL
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
Adopt Resolution No. 5271 authorizing the sale of twenty-five scattered site buildings located on eighteen parcels from the former Las Deltas public housing development at fair market value as determined by a certified appraisal.
BACKGROUND:
The Housing Authority of the County of Contra Costa (HACCC), in collaboration with both the HUD Office of Recapitalization (RECAP) and the HUD Special Application Center (SAC) agreed on a process to demolish and dispose of the Las Deltas Public Housing development through the combined use of Rental Assistance Demonstration Program (RAD) and Section 18 Demolition and Disposition.
HACCC requested, and HUD approved, the removal of the Declarations of Trust on the properties that make up the entire site. In addition, HUD approved the recording of a new Declaration of Restrictive Covenant (DRC) on all the units and parcels at Las Deltas. A copy of the DRC is included with the Purchase and Sale Agreement attached herein. The DRC required that any scattered sites sold at market rate would need to be substantiated by a certified appraisal and would no longer be subject to the restrictive covenants. The proceeds of the sale would be required to be used for affordable housing purposes, primarily the preservation of development of new affordable housing tied to HACCC's remaining public housing portfolio.
The sale of Las Deltas was earmarked to give preference to former residents of Las Deltas as the Tier 1 group and residents of, or people working in, North Richmond as the Tier 2 group. Tier 3 would be all other inter...
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