SUBJECT: Adoption of a Resolution Authorizing the Recently Approved Housing Successor Agency Grant of $200,000 to CC915 Merced, Inc., Appropriating the Funds, and Authorizing the Execution of a Grant Agreement, Regulatory Agreement, and Related Covenants and Restrictions REPORT IN BRIEF Considers adopting a resolution authorizing the recently approved Housing Successor Agency Grant of $200,000 to CC915 Merced, Inc., appropriating the funds, and authorizing the execution of a Grant Agreement, Regulatory Agreement, and related covenants and restrictions for the affordable container home project. RECOMMENDATION City Council - Adopt a motion: A. Adopting Resolution 2025-17, a Resolution of the City Council of the City of Merced, California, acting as the Housing Successor Agency to the City of Merced Redevelopment Agency, Approving a Housing Successor Grant to CC915 Merced, Inc. in the Principal Amount of $200,00., Approving and Authorizing the Execution of a Grant Agreement, Regulatory Agreement and related Grant Documents, and Authorizing certain other actions in connection therewith; and, B. Approving a Deed Restriction Covenant and Grant Agreement, Regulatory Agreement and Declaration of Restrictive Covenants, Notice of Affordability Restrictions on Transfer of Property, and Agreement Containing Covenants Affecting Real Property for the CC915 Merced, Inc. affordable container home project; and, C. Approving a Supplemental Appropriation in the amount of $200,000 from Fund-2513 Low Moderate-Income Housing; and, D. Authorizing the City Manager to execute necessary documents and to make de minimis administrative changes if needed.

What this record is

Held by

CC915 Merced, Inc 4 records across this site

Amount

$200K

Runs until

no end date published in this record

Type

amendment

Field

Real estate

Read automatically from the title of the official record. The source document below is authoritative.

CC915 Merced, Inc also holds

SUBJECT: Authorization to Submit a Joint Application with CC915 Merced to the Central Valley Opportunity Fund for a $150,000 Matching Grant and Author… $150K Merced, CA SUBJECT: Approval of Funds of $200,000 from Fund 2513 - Low Moderate-Income Housing to Complete the 73 South R Street - CC915 Merced, Inc. Affordable … Merced, CA SUBJECT: Public Hearing to Consider a Resolution Approving the Sale of the Housing Successor Agency Property at 73 S. R Street; Accepting the Summary … Merced, CA

Committee

City Council/Public Finance and Economic Development Authority/Parking Authority

Requested by

Development Services Department

Introduced

February 24, 2025

On agenda

April 7, 2025

Passed

April 7, 2025

Where it was heard

City Council/Public Finance and Economic Development Authority/Parking Authority Apr 7, 2025 approved Pass