RES 231425 - Laserfiche WebLink

RESOLUTION NO. 23-1425 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON APPROVING A $300,000 LOAN TO TRI-VALLEY REACH TO CONSTRUCT A TWO- BEDROOM ACCESSORY DWELLING UNIT AT AN EXISTING PROPERTY FOR OCCUPANCY BY VERY LOW INCOME ADULTS WITH DEVELOPMENTAL DISABILITIES WHEREAS, Tri-Valley REACH is a 501(c)(3) public charity that owns several single family homes where housing is provided to very-low and low-income adults with developmental disabilities; and WHEREAS, Tri-Valley REACH seeks to expand housing opportunities in a cost-effective manner by building a new accessory dwelling unit (ADU) at one of these single family homes to provide additional housing for two very-low income adults with developmental disabilities (the "Project"); and WHEREAS, on August 15, 2023, the City Council of the City of Pleasanton approved a loan of $300,000, comprised of$241,176 in federal HOME Program funds and $58,824 from the City's Affordable Housing Fee fund to financially support the Project; and WHEREAS, the use of the federal HOME Program funds is permitted under the federal program guidelines; and the use of the Affordable Housing Fee for this Project is permitted by Pleasanton Municipal Code §17.40.090.B.as "...loans to develop affordable housing...", as well as the 2023-2031 Housing Element's "Goal 5—Address the community's special-housing needs" and Policies 5.1, 5.2 and 5.6. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: SECTION 1. Finds that the project qualifies as a: (i) Class 3 exemption under the California Environmental Quality Act (CEQA) for new construction of small structures pursuant Title 14 California Code of Regulations §15303(a); and (ii) categorical exclusion under the National Environmental Protection Act (NEPA) for individual action on up to four dwelling units under Title 24 Code of Federal Regulations §58.34(a)(4). SECTION 2. Approves the form of the Home Loan Agreement, Promissory Note, Deed of Trust, and Amendment to Regulatory Agreement, attached hereto; authorizes the City Manager to make non-substantive changes to these documents with approval by the City Attorney; and authorizes the City Manager, or designee, to execute the attached documents, as well as any related documents needed to fund the loan and manage the escrow related to the loan. PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at a regular meeting held on October 17, 2023. {Vote and signatures to follow on next page}