In response to a Request for Proposals, Wakeland Housing and Development Corporation (“Developer”) is being recommended for $4,000,000 in HOME Investment Partnership (“HOME”) and HOME American Rescue Plan Program (“HOME-ARP”) funds towards the construction costs, to support creation of new affordable permanent supportive rental housing for very low-income households located at a property located at 610 Paseo Del Rey (“Project”). Approval of the recommended actions will enable Developer to assemble the necessary financing for the Project.
Action: Commission provide an advisory recommendation to the City Council to provide financial assistance, in an amount up to (or not to exceed) $4,000,000, for the construction of the Project.