To: Board of Supervisors
From: John Kopchik, Director, Conservation and Development
Report Title: Approval of $704,554 CDBG Loan and $567,412 HOPWA Loan for Alvarez Court Apartments, Pinole
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
APPROVE a loan of (i) Community Development Block Grant (CDBG) funds in the amount of $704,554, and (ii) and a loan of Housing Opportunities for Persons with HIV/AIDS (HOPWA) funds in the amount of $567,412 to Alvarez Court, Inc., a California nonprofit public benefit corporation (Developer), for use in the rehabilitation of the Alvarez Court Apartments Project located at 760 Alvarez Court in the City of Pinole.
AUTHORIZE the Conservation and Development Director, or designee, to execute loan documents between the County and Developer to evidence the $704,554 loan of CDBG funds and the loan of $567,412 of HOPWA funds into an existing loan agreement between the County and Developer, including a loan agreement, deed of trust, and regulatory agreement, all subject to approval by the County Administrator and approval as to form by County Counsel.
FISCAL IMPACT:
No General Fund Impact. CDBG funds are provided to the County on a formula allocation basis through the U.S Department of Housing and Urban Development (HUD). CDBG CFDA # 14-218. HOPWA funds are provided on a formula allocation basis through the City of Oakland, as HOPWA Grantee. HOPWA CFDA #14.241.
BACKGROUND:
On May 9, 2023, the Board of Supervisors approved an allocation of $704,554 in CDBG funds and $567,412 in HOPWA funds to Resources for Community Development (RCD) for the rehabilitation of Alvarez Court Apartments, a 19-unit affordable housing rental property located at 760 Alvarez Court in the City of Pinole. The project was initially financed as a small HUD Section 811 Supportive Housing for Persons with Disabilities project to subsidize rental housing with the availability of supportive services for very low- and ...
Click here for full text