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M/S Seybert/Aguirre to introduce ordinance. Motion carried by unanimous electronic vote. B. Consideration of Funding Options for the Habitat for Humanity Project at 612 Jefferson Avenue (401) Mr. Aknin gave a presentation about funding options for a Habitat for Humanity project (presentation on file). The funding for this project is coming from in-lieu fees for the One Marina project. He spoke about past Habitat for Humanity projects in Redwood City and gave a brief overview of the proposed project. The Council could fund with a favorable long-term loan with forgiveness allowance or affordable housing grants. Council Member Howard asked if there was the option of doing more than 20 affordable units. Mr. Aknin stated that it was considered but it is a fairly small lot. He noted that parking is one of the biggest barrier to production of affordable housing. Public Comment Stacey Laumann, Project Manager for Habitat for Humanity-Greater San Francisco, spoke about Habitat for Humanity's work in Redwood City. She noted that the organization prefers a grant in this situation because if there was a loan it would increase costs to the home buyers. Council Member Seybert asked if there are also partnerships with other organizations to help furnish the apartments. Ms. Laumann replied that is correct. She stated that Habitat for Humanity will receive gifts in kind from organizations like General Electric. She noted that the City's investment also helps attract more private donations. Council Member Howard stated that Habitat for Humanity is one of the few organizations that helps with owned affordable homes. She asked what happens if the home buyer decides to leave. Ms. Laumann replied that they have an option to resell where each home will be affordable for 55 years. This transfers between buyers. Council Member Aguirre asked how soon this will be built. Ms. Laumann stated that the designs are being finalized and anticipates submitting a planning application in the fall. Vice Mayor Foust stated that this would bring Redwood City from 52 to 72 Habitat for Humanity homes. Council Member Bain stated that given Redwood City's relationship with Habitat for Humanity he supports a grant funding option. Mayor Gee polled the City Counselors and there was consensus on the grant option for funding. Recommendation: Provide input on the preferred funding option for the production of affordable housing units associated with a potential Habitat for Humanity project at 612 Jefferson Avenue. MINUTE ORDER 15-075 By general consensus Council approved Option 2 of the staff recommendation. C. Bradford Street Affordable Housing Draft Request for Proposals (401) JOINT CITY COUNCIU SUCCESSOR AGENCY BOARD/ May 18, 2015 PUBLIC FINANCING AUTHORITY SPECIAL MEETING MINUTES Page 10 MINUTE BOOK NO. 65 Page No. 415