TO: Board of Supervisors
FROM: Minh C. Tran, County Executive Officer
REPORT BY: Jennifer Palmer, Director of Housing & Homeless Services
SUBJECT: Affordable Housing Loans - Final Payment for Napa Courtyards
RECOMMENDATION
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County Executive Officer and Director of Housing and Homeless Services requests approval of the following actions to complete payment on the 20-unit affordable housing project located at 535 Coombsville Road in the City of Napa, known as "Napa Courtyards":
Approval of a Budget Transfer for the following (4/5 vote required):
a. Increase appropriations by $130,000 in the Affordable Housing Subdivision (20800-00), Account 57900, with an increase of revenue in the Affordable Housing Projects Subdivision (20800-10);
b. Increase appropriations by $130,000 in Affordable Housing Projects (2080-Subdivision 20800-10, Account 56500) to provide funding for the outstanding loan payment.
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EXECUTIVE SUMMARY
This action requires an additional appropriation and transfer of funds.
On March 1, 2016, the Board of Supervisors approved a Development and Disposition Agreement for the sale of county owned property at 535 Coombsville Road in the City of Napa for the purpose of affordable housing. Idaho based Pacific West Communities proposed to construct 20 units of affordable housing in a range of unit sizes. The final breakdown was 4 one-bedroom units, 10 two-bedroom units, and 6 three-bedroom units for households earning between 30-60% of Area Median Income (AMI). Pacific West further agreed to set-aside two units for permanent supportive housing placements to be referred through the Continuum of Care's (CoC) Coordinated Entry System (CES).
On June 21, 2016, the Board of Supervisors adopted a resolution (2016-81) approving a loan of $1.3 million to Pacific West Communities and transferred the land, valued at $1,051,000 for the development of the 20 units, and authorized the Chair to sign all related documents. Pacific West Communities succes...
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