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6.3.A. - Page 1 <br /> RE PO RT <br /> To the Honorable Mayor and City Council <br /> From the Cit Mana er <br /> April 8, 2013 <br /> SUBJECT <br /> Kainos Funding Agreement for Acquisition of Special Needs Housing <br /> RECOMMENDATION <br /> Adopt a resolution approving, and authorithing City Manager to execute, a funding <br /> agreement with Kainos Home & Training Center for acquisition of 1033 Redwood <br /> Avenue for special needs housing. <br /> BACKGROUND <br /> In 2010, the Council adopted a Consolidated Plan (Plan) for 2010-2015 that established <br /> a strategy for expending federal funds over the five year life of the Plan to meet the <br /> needs of low income and special needs populations. The Plan targeted federal <br /> resources to meet the various needs identified in the Plan with 50% of the City's annual <br /> Community Development Block Grant (CDBG) and 90% of its annual HOME Investment <br /> Partnership (HOME) entitlement funds to produce additional affordable housing units. <br /> The Five Year Strategy focused on three primary areas that impact quality of life for <br /> Redwood City residents including housing, services, facilities and jobs. Site acquisition <br /> of affordable rental housing and special needs housing is one of the highest priority <br /> goals identified in the Consolidated Plan and subsequent Annual Action Plans. <br /> ANALYSIS <br /> The City received a funding proposal from Kainos Home & Training Center (Kainos) to <br /> assist with the acquisition of a single family home in January 2013. The home will <br /> provide permanent, affordable supportive rental housing for 4 adults with developmental <br /> disabilities. In March, 2013 the Housing and Human Concerns Committee <br /> recommended approval of the acquisition to be funded with $450,000 of HOME funds <br /> budgeted to affordable housing site acquisition in the FY2011-2012 and FY2012-2013 <br /> Action Plans. <br /> This project will allow the City to increase the supply of affordable housing for persons <br /> with special needs to meet the goals identified in the 2010-2015 Consolidated Plan as <br /> well as facilitate timely expenditure of funds. <br /> Project Description <br /> Kainos has made an offer and received acceptance to purchase a single family dwelling <br /> located at 1033 Redwood Avenue. The single family home located in Redwood City has <br /> 4 bedrooms, 2 baths, 1,887 sq. ft. of living space on a lot of 5,702 sq. ft., and was built <br />