55B - RESO PROP 1C TOD - Laserfiche WebLink

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REQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: MARCH 3, 2008 TITLE: RESOLUTION AUTHORIZING SUBMISSION PROPOSITION 1C FUNDS FOR TRANSIT DEVELOPMENT PROGRAM APPLICATION APPROVED FOR ^ As Recommended ORIENTED ^ As Amended s~ ^ Ordinance on 1 Reading ^ Ordinance on 2nd Reading ^ Implementing Resolution ^ Set Public Hearing For_ CITY MANAGER RECOMMENDED ACTION CONTINUED TO FILE NUMBER 1. Adopt a resolution approving submission of an application to the California Department of Housing and Community Development under the Transit Oriented Development Program. 2. Authorize the Deputy City Manager for Development Services to execute the application and all documents related thereto. DISCUSSION On December 11, 2007, the California Department of Housing and Community Development announced the availability of $95 million through the Transit Oriented Development Program (TOD) The TOD Program is a multi-faceted housing program created by the State of California that utilizes funds made available by the passage of Proposition 1C, the Housing and Emergency Shelter Trust Fund Act of 2006. The applications are due March 7, 2008, and awards are anticipated to be announced in June of 2008. TOD funds are available to local public agencies and private developers for a variety of activities that increase the supply of affordable housing, increase public transit ridership, and minimize automobile trips. Proposed activities must support the development of affordable housing located within a quarter mile of the transit center. In order to qualify for funding, housing projects must have at least fifty dwelling units and a minimum net density of forty dwelling units per acre. Additionally, at least fifteen percent of the units must be restricted for low- and moderate-income households. In order to be eligible for funding, staff is proposing development on Agency-owned properties in the Santa Ana Boulevard area (Exhibit 1). The 55B-1