Subject: Grant And Loan To Housing Consortium Of The East Bay For Extended Stay America From: Human Services Department Recommendation: Adopt A Resolution Authorizing The City Administrator To: 1. Either Make A 55-Year Capitalized Loan At An Interest Rate Not To Exceed 3% Or, In The Alternative, Award A Grant To Memar Properties, Inc And Housing Consortium Of The East Bay (HCEB), Or Their Affiliates, In An Amount Not To Exceed $7,000,000, Using State Of California Encampment Resolution Funding (ERF), In Order To Purchase The Extended Stay America Located At 3650 Mandela Parkway (Property) For Interim Shelter For Unhoused Individuals To Be Converted To 125 Units Of Permanent Supportive Housing; And 2. Award A Grant To HCEB In An Amount Not To Exceed $5,378,190 Using State Of California Permanent Local Housing Allocation Funds (PLHA), State Erf, And Local Opioid Remediation Funding, To Operate An Interim Shelter Program At The Property And Provide Pre-Program Outreach And Exit Resources For Unhoused Individuals Through September 30, 2026; And Making Appropriate California Environmental Quality Act Findings

City Resolution Passed Introduced November 5, 2024

What this record is

Held by: Memar Properties, Inc
Amount: $7.00M
Runs until: September 30, 2026 30 days — goes back out to bid date quoted from the award document
Type: award
Field: Health & social

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

Committee: * Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council
Requested by: Human Services Department
Introduced: November 5, 2024
On agenda: November 12, 2024
Passed: November 12, 2024
Enacted: November 12, 2024
Enactment no.: 90510 C.M.S