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This memorandum outlines actions related to the approval of a grant award to Habitat for Humanity East Bay/Silicon Valley for the sale of four affordable housing units. It recommends adopting a resolution to approve a $250,000 grant for downpayment assistance, authorizing the Housing Director to execute necessary documents, and making appropriation amendments in related funds. The memorandum details the project's background, including previous loan commitments and the development of affordable units, and emphasizes the importance of maintaining affordability for low-income households.
Key points
Approval of a $250,000 grant to Habitat for Humanity East Bay/Silicon Valley for downpayment assistance.
The grant aims to reduce the sale price of four affordable housing units for very-low to low-income families.
The memorandum includes recommendations for appropriation amendments in the Real Property Transfer Tax Fund and Affordable Housing Impact Fee Fund.
The project involves the renovation of four owner-occupied units, with construction expected to be completed in June 2025.
The County of Santa Clara will monitor the ongoing affordability of the units.
Limitations
The document includes placeholders and unresolved references, such as specific dates and budget action details.
The text does not specify the final sales prices of the units after the grant assistance.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 9,456 chars
COUNCIL AGENDA: FILE: ITEM: TO: HONORABLE MAYOR AND CITY COUNCIL 6/10/25 25-638 2.17 FROM: Erik L. Soliván Jim Shannon SUBJECT: See Below DATE: May 19, 2025 Approved Date: 5/29/25 COUNCIL DISTRICT: 3 SUBJECT: Actions Related to the Approval of a Grant Award to Habitat for Humanity East Bay/Silicon Valley for the Sale of Four Affordable Units RECOMMENDATION (a) Adopt a resolution: (1) Approving a grant award to Habitat for Humanity East Bay/Silicon Valley Inc. in an amount of $250,000 in Measure E Funds for downpayment assistance to decrease the sale price of four very-low to low-income for-sale affordable units located at the corner of East Reed Street and South 4th Street; and (2) Authorizing the Housing Director, or his designee, to negotiate and execute grant documents, any amendments thereto, and all other documents related to the sale of the four affordable units and any underlying documents required for the closing of the construction financing. (b) Adopt the following 2024-2025 Appropriation Ordinance amendments in the Real Property Transfer Tax Fund: (1) Increase the Measure E – 5% Moderate-Income Households appropriation to the Housing Department by $250,000; and (2)...
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The file was imported, but the current source metadata does not include a public document URL.
Generated summaryAI-assisted
The source text indicates this attachment appears to be a draft document.
This document is a resolution from the City Council of San Jose approving a grant award to Habitat for Humanity East Bay/Silicon Valley Inc. for downpayment assistance to reduce the sale price of four affordable housing units. The resolution outlines the grant amount, the purpose of the funds, and authorizes the Housing Director to execute necessary documents related to the grant and the sale of the units.
Key points
The resolution approves a grant award of $250,000 to Habitat for Humanity East Bay/Silicon Valley Inc.
The funds are designated for downpayment assistance for four very-low to low-income affordable units.
The units are located at the corner of East Reed Street and South Fourth Street.
Renovation of the units is anticipated to be completed in June 2025.
Eligibility for homebuyers will be verified by the County of Santa Clara’s Office of Supportive Housing.
Limitations
The document appears to be a draft as indicated in the text.
There are unresolved placeholders for the adoption date and voting results.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 4,315 chars
NVF:JGH:MMV 5/23/2025 RESOLUTION NO. ______________ A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN JOSE (1) APPROVING A GRANT AWARD TO HABITAT FOR HUMANITY EAST BAY/SILICON VALLEY INC. IN AN AMOUNT OF $250,000 IN MEASURE E FUNDS FOR DOWNPAYMENT ASSISTANCE TO DECREASE THE SALE PRICE OF FOUR VERY-LOW TO LOW-INCOME FOR-SALE AFFORDABLE UNITS LOCATED AT THE CORNER OF EAST REED STREET AND SOUTH FOURTH STREET; AND (2) AUTHORIZING THE HOUSING DIRECTOR, OR HIS DESIGNEE, TO NEGOTIATE AND EXECUTE GRANT DOCUMENTS, ANY AMENDMENTS THERETO, AND ALL OTHER DOCUMENTS RELATED TO THE SALE OF THE FOUR AFFORDABLE UNITS AND ANY UNDERLYING DOCUMENTS REQUIRED FOR THE CLOSING OF THE CONSTRUCTION FINANCING WHEREAS, in 2019, the historic Pallesen apartments were scheduled for demolition when the Preservation Action Council of San José and the City identified a relocation site for the development to preserve its architectural heritage and provide an opportunity to develop affordable, owner-occupied units for very low- to low-income families earning below 50% to 80% of the area median household income; and WHEREAS, the Developer led the building relocation efforts and is currently renovating it into four...