REQUEST FOR CITY COUNCIL AND
CORONA HOUSING AUTHORITY ACTION
DATE: 08/21/2024
TO: Honorable Chair and Authority Board
Honorable Mayor and City Council Members
FROM: Community Services Department
SUBJECT:
Title
PUBLIC HEARING FOR THE AUTHORITY BOARD AND CITY COUNCIL CONSIDERATION OF THE AFFORDABLE HOUSING DISPOSITION AND DEVELOPMENT AGREEMENT (CORONA 2ND STREET FAMILY APARTMENTS) WITH SECOND STREET FAMILY, LP
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EXECUTIVE SUMMARY:
This staff report asks the Authority Board and Council Members to approve the Affordable Housing Disposition and Development Agreement with Second Street Family, LP. Per the terms and obligations contained in the housing agreement, in exchange for the sale of land and financial contributions, the Developer will develop a nearly 4-acre lot into an affordable housing development and maintain the 115 newly constructed family units affordable in perpetuity.
RECOMMENDED ACTION:
Recommended action
That the Authority Board:
a. Adopt Resolution No. 2024-089, declaring that the approximately 5.00 acres of property located at the southwest and southeast corners of Second Street and Buena Vista Avenue is exempt surplus land under the Surplus Land Act.
b. Adopt Resolution No. 2024-088, making certain findings under Health and Safety Code Section 33433 and approving an Affordable Housing Disposition and Development Agreement with Second Street Family, LP, for the property located at the southwest and southeast corners of Second Street and Buena Vista Avenue.
That the City Council:
a. Adopt Resolution No. 2024-087, approving an Affordable Housing Disposition and Development Agreement with Second Street Family, LP, for the property located at the southwest and southeast corners of Second Street and Buena Vista Avenue, and approving the deferral of development impact fees.
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BACKGROUND & HISTORY:
On April 3, 2019, the City of Corona Housing Authority Board (Authority) authorized the purchase of three ...
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