Laserfiche WebLink
5 <br /> <br />Assessment of Property Management Capacity: Development will be managed by Alta Housing’s <br />management division, Alta Housing Management and Services Corporation (AHMSC). Alta Housing has <br />over 50 years of experience developing affordable housing and more than 20 years managing properties <br />through AHMSC. Their current portfolio includes over 900 affordable housing units across 28 properties <br />in Santa Clara and San Mateo Counties, serving a wide range of populations including families, seniors, <br />veterans, formerly homeless individuals, and adults with intellectual and developmental disabilities <br />(I/DD). <br /> <br />Their property management team is skilled in the full life cycle of affordable housing operations —from <br />lease-up and stabilization to long-term compliance and asset stewardship. Their team is well-versed in <br />managing properties with multiple funding layers, including 4% Low Income Housing Tax Credit (LIHTC), <br />United States Department of Housing and Urban Development (HUD), Project-Based Vouchers, and local <br />regulatory agreements. Additionally, staff has extensive experience administering local tenant selection <br />preferences and affirmative fair housing marketing plans. <br /> <br />Alta Housing has provided onsite resident services for over 20 years, designed to promote housing <br />stability, community engagement, and resident well-being. Their model is strengths-based, resident- <br />informed, and adaptable to the needs of each community. Services are structured around three core <br />pillars: Housing Retention Support, Community Building & Resident Leadership, and Education & Resource <br />Navigation. <br /> <br />Other Organizations Involved in the Project: San Andreas Regional Center, Golden Gate Regional Center <br /> <br />Rent Analysis and Unit Mix: <br />This is a new construction development. <br /> <br />Proposed Approximate Unit Type and Affordability Level in the Development: <br /> <br />Area Median Income Studio 1BR 2BR Total <br />20% 14 10 0 24 <br />50% 2 4 10 16 <br />60% 19 11 4 34 <br />70% 7 8 4 19 <br />Manager's Unit 0 0 1 1 <br />Total 42 33 19 94 <br /> <br /> <br />Summary of affordability restrictions: <br /> <br />City Funding Restrictions <br /> <br />Minimum Affordability Restrictions per Funding Sources <br />AMI HOME RDA LMIHF Impact Fees Total <br />30% AMI 0 11 0 11 <br />50% AMI 3 11 0 14 <br />9.A. - Page 23 of 37 <br />489