File #: 20-140    Version: 1
Type: Action Item Status: Passed
In control: City Council
On agenda: 4/27/2020 Final action: 4/27/2020
Title: Ratification of Assignment of Community Development Block Grants from Center for Hope and Safety to HOPE Plaza LLC Ward(s): Ward 1 Councilor(s): Kaser Neighborhood(s): CANDO Result Area(s): Welcoming and Livable Community
Related files:

TO:                      Mayor and City Council   

THROUGH:                      Steve Powers, City Manager   

FROM:                      Kristin Retherford, Urban Development Director

                                          

SUBJECT:

title

 

Ratification of Assignment of Community Development Block Grants from Center for Hope and Safety to HOPE Plaza LLC

 

Ward(s): Ward 1   

Councilor(s): Kaser

Neighborhood(s):  CANDO

Result Area(s): Welcoming and Livable Community  

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ISSUE:

 

Shall the City Council ratify the assignment of Community Development Block Grants from the Center for Hope and Safety to HOPE Plaza LLC?     

 

 

RECOMMENDATION:

recommendation

 

Ratify the assignment of Community Development Block Grants from the Center for Hope and Safety to HOPE Plaza LLC.      

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SUMMARY:

 

The City Manager, exercising his authority under the City Council’s Declaration of a State of Emergency (“Declaration”), signed the assignment of the Grant agreement from the Center for Hope and Safety to HOPE Plaza, LLC, a subsidiary of the Center for Hope and Safety. The Center for Hope and Safety has been working towards finalizing their funding resources for new construction. A condition of their funding is that the land ownership and Community Development Block Grants (CDBG) change to HOPE Plaza LLC, which is the entity that will own and operate the project upon completion.

 

FACTS AND FINDINGS:

 

The City has entered into five CDBG agreements with the Center for Hope and Safety to fund:

 

1)                     Grant dated 12/26/13 for purchase of building located at 605 Center Street;

2)                     Grant dated 1/8/14 for facility renovation, including roof, HVAC, and carpet   

3)                     Grant dated 7/24/2015 to replace lower facility windows;

4)                     Grant dated 12/03/2018 to replace upper facility windows;

5)                     Grant dated 2/28/2019 for demolition of 444-460 Church Street for the purpose of constructing affordable housing units.

 

BACKGROUND:

 

The Center for Hope and Safety is developing HOPE Plaza, a housing development, adjacent to their existing facility. Financing terms for HOPE Plaza require that the property and other funding instruments, including CDBG agreements, be assigned to the new ownership and operating entity “HOPE Plaza, LLC”.

 

The approval of the grant assignments to HOPE Plaza LLC will allow the Center for Hope and Safety to satisfy their financing requirements.

 

 

                     Kristin Retherford     

                     Urban Development Director    

 

Attachments:

1. None