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RES-2025-019RESOLUTION NO. 2 0 2 5 - 019 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM AUTHORIZING THE TRANSFER AND EXPENDITURE OF ONE MILLION DOLLARS ($1,000,000) OF PRO HOUSING FUNDS FROM THE ANAHEIM LOCAL HOUSING TRUST FUND TO THE ANAHEIM HOUSING AUTHORITY AS PART OF THE AUTHORITY'S SUBSIDY TO CAUSE CONSTRUCTION, COMPLETION AND OPERATION OF A 47-UNIT INTERGENERATIONAL AFFORDABLE RENTAL HOUSING PROJECT FOR EXTREMELY LOW INCOME SENIORS AND TRANSITIONAL AGE YOUTH PURSUANT TO AN AFFORDABLE HOUSING AGREEMENT (INTERGENERATIONAL SENIOR/TAY PROJECT) BETWEEN THE AUTHORITY AND LINCOLN BEACH LP; AND MAKING CERTAIN OTHER FINDINGS IN CONNECTION THEREWITH WHEREAS, pursuant to Ordinance No. 6588 the City Council of the City of Anaheim established the Anaheim Local Housing Trust Fund ("A-LHTF") to provide financial'resources for the development and preservation of affordable housing within the community, including to provide gap financing for the development of new affordable housing units; and WHEREAS, certain funds in the A-LHTF account are sourced from the federal Pathways to Removing Obstacles to Housing ("PRO Housing") program authorized and funded by the Consolidated Appropriations Act, 2023, which allows grantees to use awards to further develop, evaluate, and implement housing policy plans, improve housing strategies, and facilitate affordable housing production and preservation, and on June 26, 2024, the City of Anaheim was selected as one of only 21 jurisdictions to receive this highly competitive grant funding in the amount of $3,497,200, including $1,000,000 in seed funding for the A-LHTF; and WHEREAS, the Anaheim Housing Authority ("Authority") and Lincoln Beach LP ("Developer") are parties to a Preliminary Award Letter dated June 11, 2024 and have negotiated the implementing Affordable Housing Agreement (Intergenerational Senior/Tay Project) ("AHA") for a new development on a 0.65-acre parcel (portion of APN 126-602-31) located at the common address of 208 S. Beach Boulevard (formerly 130 S. Beach Boulevard) and near the Southeast Corner of Beach Boulevard and Lincoln Avenue, Anaheim ("IG Parcel"), which project will include 46 restricted affordable units and one unrestricted unit for occupancy by the onsite property manager (total 47 units) for qualified Extremely Low Income Senior and Transitional Age Youth ("TAY") households pursuant to California Civil Code Section 51.3.5 ("IG Project"); and WHEREAS, the City Council desires to authorize the transfer to the Authority of One Million Dollars ($1,000,000) sourced from the PRO Housing funds allocated to the City, which will be part of the total subsidy and funding of the IG Project through the Authority Loan to Developer under the AHA; and WHEREAS, on June 11, 2024 the City Council and Authority approved that certain Cooperation Agreement by which the City is authorized to transfer certain funds to the Authority for the IG Project to be utilized as a part of the subsidy to provide the Authority Assistance described in the. Preliminary Award Letter and implementing AHA. 1 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Anaheim as follows: Section 1. The City Council finds: (a) The IG Project aligns with the goals of Ordinance No. 6588 for commitment and expenditure of funds from the A-LHTF by providing needed affordable rental housing for Senior and TAY Extremely Low Income Households within the community. Section 2. The City Council hereby appropriates One Million Dollars ($1,000,000) from PRO Housing funds in the A-LHTF to be transferred to the Authority to be used as a part of the Authority Assistance and Authority Loan cash subsidy as described in the Preliminary Award Letter, Cooperation Agreement, and AHA for the IG Project. Section 3. The City Manager is hereby authorized to cause the transfer of $1,000,000 of A-LHTF funds to the Authority for expenditure on the IG Project pursuant to the Preliminary Award Letter, Cooperation Agreement, and AHA. Section 4. The Director of Housing and Community Development is authorized, on behalf of the City, to sign all other documents necessary or appropriate to carry out and implement this Resolution. Section 5. The City Clerk shall certify to the adoption of this Resolution. Section 6. This Resolution shall become effective immediately upon adoption. 2 THE FOREGOING RESOLUTION is approved and adopted by the City Council of the City of Anaheim this day of March 2025, by the following roll call vote: AYES: Mayor Aitken and Council Members Meeks, Balius, Leon, Rubalcava, Kurtz and Maahs NOES: None ABSENT: None ABSTAIN: None CITY MP;4�-2� By: MAYOR O IE CITY OF ANAHEIM L RK OF THE CITY OF ANAHEIM CLERK'S CERTIFICATE STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF ANAHEIM ) I, THERESA BASS, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the original Resolution No. 2025-019 adopted at a regular meeting provided by law, of the Anaheim City Council held on the 251 day of March. 2025 by the following vote of the members thereof: AYES: Mayor Aitken and Council Members Meeks, Balius, Leon, Rubalcava, Kurtz and Maahs NOES: None ABSTAIN: None ABSENT: None IN WITNESS WHEREOF, I have hereunto set my hand this 27th day of March, 2025. CITJ CEERK OF THE CITY OF ANAHEIM (SEAL)