To: Contra Costa County Housing Authority Board of Commissioners
From: Joseph Villarreal, Executive Director
Report Title: RATIFY HACCC'S EXECUTIVE DIRECTOR'S EXECUTION OF PURCHASE AND SALES AGREEMENTS AUTHORIZING THE SALE OF FOUR PARCELS OF LAND IN RICHMOND, LOCATED AT 1710-1714 FIRST STREET, 317/325 SILVER AVENUE, 525 SILVER/1711 GIARAMITA , AND 308, 320,322 MARKET/1748 3RD STREET.
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
RATIFY HACCC'S Executive Director's execution of Purchase and Sales Agreements authorizing the sale of four parcels of land in Richmond, located at 1710-1714 First St, 317/325 Silver Ave, 525 Silver Ave/1711 Giaramita, and 308, 320,322 Market/1748 3RD St.
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. 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. Moreover, HUD has approved the sale of the properties referenced below prior to the sale as required by the DRC.
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 person working in North Richmond as the Tier 2 group. Tier 3 would be members of the g...
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