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Attachment 2 <br />THE CITY OF ,r~1 Housing Commission <br />~ ~- Staff Report <br />~. a~ a u ~: n~: <br />j~L~~S~4NTONo November 20, 2008 <br />Item 8A <br />SUBJECT: Review of the Proposed Purchase by HOUSE, Inc., <br />of aBelow-Market Priced Home to Provide <br />Housing for Developmentally Disabled Adults <br />STAFF RECOMMENDATION: Recommend that the City Council approve the sale of <br />abelow-market home to HOUSE, Inc., for the purpose <br />of providing additional housing units for <br />developmentally disabled adults, and approve a loan in <br />the amount of $195,000 from City HOME funds to <br />assist with the purchase. <br />ATTACHMENTS: A. Staff Report and Minutes from the August 21, 2008, <br /> Housing Commission Meeting <br />B. Staff Report and Minutes from the October 23, 2008, <br /> Housing Commission Meeting <br />C. HOME Application and Supporting Information <br /> Submitted by HOUSE, Inc. <br />D. Sample Contract for HOME Funds <br />E. Sample Promissory Note and Deed of Trust (2006 <br /> Purchase by HOUSE, Inc., of Tanager Drive Property) <br />BACKGROUND <br />At the August 21 and October 23 meetings, the Housing Commission considered a request by <br />HOUSE, Inc., for federal HOME funds to assist the agency in acquiring a fourth residential <br />property in Pleasanton to provide housing for developmentally disabled adults. Copies of the <br />staff reports and minutes for the two meetings are attached to this report to provide background. <br />At the August meeting, the Commission was generally supportive of the concept but had some <br />concerns regarding the scale of the request ($450,000) and also wanted to see additional <br />information in the following areas: <br />Page - 1 - <br />