Laserfiche WebLink
6.3.A. - Page 2 <br /> commercial buildings in poor condition. The land is approximately 18,000 square feet <br /> and includes three lots. It is zoned for residential development (PUD-133: 10 Unit <br /> residential townhouse) and MHA anticipates they will be able to develop between 15-16 <br /> units. The property will sell for $1,200,000 and a professional appraisal and property <br /> inspection report have been completed. MHA will contribute $100,000 for the acquisition <br /> and has submitted a funding application to the Housing Endowment and Regional Trust <br /> of San Mateo County (HEART) for $700,000. <br /> MHA plans to purchase and develop this site to provide permanent, affordable <br /> supportive rental housing for adults with mental illness. They have construction funding <br /> commitments to complete the development and other commitments for rental subsidies. <br /> The site is close to amenities and access to support services and is close to transit and <br /> walking distance to local commerce. <br /> ALTERNATIVES <br /> The Council may choose to modify the recommendation. <br /> FISCAL IMPACT <br /> $400,000 in CDBG entitlement funds available for this agreement were previously <br /> approved by Council in the FY2012-2013 and FY2013-2014 Annual Action Plan <br /> budgets. <br /> ENVIRONMENTAL REVIEW <br /> A Phase I Environmental Site Assessment and a National Environmental Protection Act <br /> (NEPA) review were completed and determined a Finding of No Significant Impact <br /> (FONSI). <br /> RHONDA COFFMAN <br /> CDBG/HOME ADMINISTRATOR <br /> �� /�_ <br /> � <br /> � <br /> BILL EKERN <br /> COMMUNITY DEVELOPMENT DIRECTOR <br />