SUBJECT: Approval of Termination Documents to Cancel and Disencumber Existing U.S. Department of Housing and Urban Development (HUD) Funding Commitment Agreements that were Previously Approved for the Gateway Terrace II Affordable Housing Project that Will no Longer Utilize HUD Funding REPORT IN BRIEF Considers approving the Termination Documents that have been prepared to terminate the existing Community Development Block Grant (CDBG), Home Investment Partnership Program (HOME), and Community Housing Development Organization HOME (CHDO HOME) funding agreements relating to the future Gateway Terrace II affordable housing project; and, provides further information and required steps regarding ‘Part Two’ of the final corrective actions HUD repayment process relating to the October 2021 HUD Environmental Monitoring report that was discussed at the April 2, 2024, City Council Meeting. RECOMMENDATION City Council - Adopt a motion: A. Approving the Termination Documents that have been prepared to terminate the existing Community Development Block Grant (CDBG), Home Investment Partnership Program (HOME), and Community Housing Development Organization HOME (CHDO HOME) funding agreements relating to the future Gateway Terrace II affordable housing project; and, B. Authorizing the City Manager to execute all related documents, subject to review and approval by the City Attorney, which may be necessary to support the above actions; and, C. Authorizing the Finance Officer to make any necessary budget adjustments related to these actions.

Report Item Passed Introduced April 16, 2024

Committee: City Council/Public Finance and Economic Development Authority/Parking Authority
Requested by: Development Services Department
Introduced: April 16, 2024
On agenda: May 6, 2024
Passed: May 6, 2024

Where it was heard