Reso 16387 - Laserfiche WebLink

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ATTY/RESO.0002/CC RESO UPDATED PERMANENT LOCAL HOUSING ALLOCATION PROGRAM (PLHA) REV: 01-29-26 LF Page 2 of 4 WHEREAS, the PLHA Resolution specifically named Melissa Stevenson Diaz as the individual authorized to execute the PLHA Program Application, the PLHA Standard Agreement, and any subsequent amendments thereto, as well as any other documents which are related to the Program or the PLHA grant awarded to the Applicant, as the Department may deem appropriate; and WHEREAS, the City would like to update that it is the City Manager, or their designee, that is the individual authorized to execute the PLHA Standard Agreement, and any subsequent amendments thereto, as well as any other documents which are related to the Program or the PLHA grant awarded to the Applicant, as the Department may deem appropriate; and WHEREAS, on June 27, 2022, the City Council adopted the Anti-Displacement Strategy (“ADS”), a set of housing policy recommendations to address the housing needs of Redwood City residents most at-risk of displacement due to rising housing costs and limited supply of housing stock affordable to lower-income households; and WHEREAS, one of the ADS recommendations was the creation of the Affordable Housing Preservation Program (“HPP”), an over-the-counter, local program accessible to developers to help finance preservation of unsubsidized affordable housing in the City; and WHEREAS, the ADS recommends use of three funding sources to support the initial round of HPP funding: PLHA, the Former Redevelopment Agency/Low-Moderate Income Housing Fund (RDA/LMIHF); and the Affordable Housing Impact Fee Fund (AHIF); and WHEREAS, the approved five-year PLHA Plan outlines that PLHA funds for years 2 through 5 of the 2019-2023 funding period are intended to be used for the preservation of unsubsidized affordable housing; and WHEREAS, on July 24, 2023, via resolution 16166 (“HPP Resolution”), the City Council established the HPP and took other actions related to administration of the HPP; and WHEREAS, the HPP Resolution only appropriated the use of funds from the Prohousing Incentive Program (“PIP) and AHIF funding sources, as PLHA funds were appropriated to the HPP through the City’s annual budget adoption process; and WHEREAS, as requested by the Department, the City Council, by this resolution, seeks to appropriate PLHA funds for years 2 through 5 of the 2019-2023 funding period, totaling $1,578,713.15, to the HPP.