REQUEST FOR HOUSING AUTHORITY ACTION
SUBMITTED TO: Honorable Chair and Board Members
SUBMITTED BY: Travis Hopkins, City Manager
VIA: Jennifer Villasenor, Director of Community Development
PREPARED BY: Charles Kovac, Housing Manager
Subject:
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Approve and Authorize Execution of the Third Amendment to the Affordable Housing Agreement and the Second Amendment to the Declaration of Covenants, Conditions and Restrictions to Extend Affordability Covenants by One Year for the Five Points Senior Villas Project
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Statement of Issue:
The Huntington Beach Housing Authority ("Authority") is requested to approve a one-year extension of existing affordability covenants for the Five Points Senior Villas Apartments, a 164-unit senior housing community located at 18651 Florida Street ("Project"). The extension would maintain existing income restrictions on 48 units (32 very low-income and 16 low/moderate-income) through July 30, 2027. The extension has been requested by the property owner and would be implemented through amendments to the existing Affordable Housing Agreement and Declaration of Covenants, Conditions, and Restrictions.
Financial Impact:
There is no fiscal impact. Five Points Seniors, L.P. does not have an existing loan or financial obligation to the City.
Recommended Action:
recommendation
A) Approve the Third Amendment to the Affordable Housing Agreement by and between the Huntington Beach Housing Authority and Five Points Seniors, L.P.;
B) Approve the Second Amendment to the Declaration of Covenants, Conditions, and Restrictions by and between the Huntington Beach Housing Authority and Five Points Seniors, L.P.; and,
C) Authorize the Housing Authority Executive Director or their designee to execute the Third Amendment to the Affordable Housing Agreement, the Second Amendment to the Declaration of Covenants, Conditions and Restrictions, and all related documents necessary to implement the one-year extension.
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Alternative Acti...
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