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CommunityAndEconomicDevelopmentCommittee,2019-09-24,"*Community & Economic
Meeting Minutes - FINAL
September 24, 2019
Development Committee
6
Subject:
Measurer KK Affordable Housing Programs
From:
Housing And Community Development Department
Recommendation: Adopt A Resolution Authorizing The City Administrator Or Her
Designee To: 1) Make Acquisition And Conversion To Affordable Housing (ACAH)
Loans From Measure KK Bond Proceeds Without Returning To Council; And 2)
Reallocate Funding From Projects Currently Scheduled To Be Funded By The First
Tranche Of Measure KK Funds (Fund 5331), Notwithstanding Any Previous Action By
The City Council, To Any New Projects Initiated Pursuant To Programs Authorized To
Receive Funding From Measure KK Bonds, Including But Not Limited To Projects
Initiated Pursuant To The ACAH Program, To The Extent Necessary To Maximize Spend
Down Of Outstanding Bond Funds And Ensure Cost Efficiency
18-2222
Attachments: View Report
View Supplemental Report 9/27/2019
87876 CMS
There was a motion by Councilmember Bas, seconded by councilmember Gallo to
approve the staff recomendation as amended to a dd a final Whereas clause:
WHEREAS, the FY 2019-2021 Budget, adopted by the City Council on June 25,
2019, includes
a Budget Policy Directive creating a Permanent Affordability Program with
an
annually
recapitalized budget of $12 million to be utilized by Community Land Trusts and
Limited Equity
Housing Cooperatives to acquire, rehabilitate, and preserve small sites (properties
of 25 units or
less) for permanent affordability, prioritizing households under 80 percent AMI.
And to also add a dd a final further resolved clause:
FURTHER RESOLVED: That $12 million of Measure KK funds be dispensed on a
rolling
basis to the extent that funds are available after the first round in accordance with
the Budget
Policy Directive creating a Permanent Affordability Program and allocating these
funds towards
Community Land Trusts, Limited Equity Housing Cooperatives, and organizations
that partner
with these entities.
This City Resolution be Approved the Recommendation of Staff, and Forward.to
go before the * Concurrent Meeting of the Oakland Redevelopment Successor
Agency and the City Council to be heard 10/1/2019
Open Forum (TOTAL TIME AVAILABLE: 15 MINUTES)
There were 4 speakers on this item
City of Oakland
Page 6
Printed on 12/12/2019",6,CommunityAndEconomicDevelopmentCommittee/2019-09-24.pdf