SUBJECT: Adoption of Resolutions Authorizing the Submittal of Joint Applications and Participation in the State of California Housing and Community Development (HCD) Homekey Grant Program with Two Affordable Housing Developer/Applicants REPORT IN BRIEF Considers adopting resolutions authorizing the submittal of joint applications for participation in HCD Homekey Grant Program with CC915 Merced, Inc. and Shangri-La Industries LLC. RECOMMENDATION City Council - Adopt a motion: A. Adopting Resolution 2023-43, a Resolution of the City Council of the City of Merced, California, authorizing a joint application to and participation in the Homekey Program with CC915 Merced, Inc.; and, B. Adopting Resolution 2023-44, a Resolution of the City Council of the City of Merced, California, authorizing a joint application to and participation in the Homekey Program with Shangri-La Industries LLC; and, C. Authorizing the City Manager or Deputy City Manager to execute the Standard Agreements if selected for such funding and any amendments thereto, and any related documents necessary to participate in the Homekey Program; and, D. Authorizing the Finance Officer to make any budget amendments necessary for the implementation of the use of the Homekey Program; and, E. Authorizing the use of pooled cash until reimbursement if one or both projects are granted awards from the Homekey Program.

Consent Item Passed Introduced June 6, 2023

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Committee: City Council/Public Finance and Economic Development Authority/Parking Authority
Requested by: Development Services Department
Introduced: June 6, 2023
On agenda: June 20, 2023
Passed: June 20, 2023