REQUEST FOR CITY COUNCIL AND
CORONA HOUSING AUTHORITY ACTION
DATE: 08/21/2024
TO: 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 PERMANENT SUPPORTIVE HOUSING) WITH SECOND STREET HOUSING, 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 Housing, 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 1-acre lot into a permanent supportive affordable housing development and maintain the 25-family units constructed at extremely low-income levels in perpetuity.
RECOMMENDED ACTION:
Recommended action
That the Authority Board:
a. Adopt Resolution No. 2024-091, making certain findings under Health and Safety Code Section 33433 and approving an Affordable Housing Disposition and Development Agreement with Second Street Housing, 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. 2024-090, approving an Affordable Housing Disposition and Development Agreement with Second Street Housing, 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 parcels abutting the newly expanded 91 FWY, located along Second Street and South Buena Vista Avenue. Riverside County Transportation Commission (RCTC) acquired these properties in furtherance of the 91 FWY Expansion Project and, per the Sur...
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