HomeMy WebLinkAboutSR - Restated Coooperation Housing AgmtREQUEST:
SUBMITTED BY:
DATE:
PALM DESERT REDEVELOPMENT AGENCY AND
PALM DESERT HOUSING AUTHORITY
STAFF REPORT
AUTHORIZE THE PALM DESERT REDEVELOPMENT AGENCY
AND HOUSING AUTHORITY TO APPROVE AN AMENDED AND
RESTATED HOUSING COOPERATION AGREEMENT IN ORDER
TO PLAN, UNDERTAKE, CONSTRUCT OR OPERATE HOUSING
PROJECTS
JANET M. MOORE, DIRECTOR OF HOUSING
FEBRUARY 14, 2008
CONTENTS: RESOLUTION NOS. 546 AND HA-36
AMENDED AND RESTATED HOUSING COOPERATION
AGREEMENT
Recommendation:
That the Palm Desert Redevelopment Agency/Palm Desert Housing Authority open the
public hearing and following public testimony take the following action:
By Minute Motion that the Agency and Authority Board:
1. Waive further reading and adopt Resolution No. 546 , a resolution of the
Palm Desert Redevelopment Agency and Resolution No. HA-36 a resolution
of the Palm Desert Housing Authority approving an Amended and Restated
Housing Cooperation Agreement, and
2. Approve the Amended and Restated Housing Cooperation Agreement in
accordance with Housing Cooperation Law in order to plan, undertake,
construct or operate housing projects, and
3. Authorize the Chairman to execute all documents necessary to enter into the
Amended and Restated Housing Cooperation Agreement.
Executive Summary:
The original Housing Cooperation Agreement was approved in May of 2005. Since that time
the Agency has exercised its powers under the Agreement to construct and renovate
affordable housing units that include La Rocca Villas, Falcon Crest, California Villas and
Laguna Palms. The Agency has and will continue to acquire additional properties in need of
reconstruction, renovation, or repairs that were not referenced in the previous agreement.
Entering into this amended and restated Agreement will allow the Agency to exercise certain
powers for the purpose of aiding and cooperating in planning, undertaking, construction,
operation and selection of qualified contractors as provided under the Housing Cooperation
Law.
STAFF REPORT - HOUSING COOPERATION AGREEMENT
FEBRUARY 14, 2008
PAGE 2 OF 2
Discussion:
In May of 2005 the Agency and the Authority entered into a Housing Cooperation Agreement
in order to facilitate the construction of several projects within the city to provide affordable
housing and provide for the renovation of existing affordable housing. The projects nearing
completion include 27 senior rental -housing units and 93 single-family for -sale homes.
The Redevelopment Agency also owns the multi -family apartment complexes known as
California Villas and Laguna Palms, both of which are operated by the Palm Desert Housing
Authority. Phase A of California Villas is nearly complete. Construction of Phase B is expected
to commence within the calendar year. The exterior renovations and repairs for Laguna Palms
are currently underway.
The Redevelopment Agency proposes to enter into the restated agreement with the Housing
Authority in connection with the development of additional affordable housing sites within the
city as well as renovations to properties in its portfolio and acquired properties. The restated
agreement will afford the Agency more flexible powers, including more flexibility in the
selection of qualified contractors to build affordable units and renovate affordable housing
projects. The Agency, from 20% set -aside or the bond issue secured by the 20%, will provide
the funding and be the lead Agency for the above noted projects, although ultimately the
Housing Authority may operate them.
Under the Housing Cooperation Law (California Health and Safety Code Sections 34500,
et.seq.) the Redevelopment Agency is authorized to exercise certain powers for the purpose of
aiding and cooperating in the planning, undertaking, construction, or operation of housing
projects. The Amended and Restated Housing Cooperation Agreement generally provides that
the Redevelopment Agency, at its expense from funding noted above, will develop affordable
housing projects and renovate the affordable housing projects.
Pursuant to the Housing Cooperation Law, the Redevelopment Agency and Housing Authority
must hold a public hearing on the Amended and Restated Housing Cooperation Agreement.
Notice of the hearing will be published and three copies of the Agreement will be available for
public inspection.
,.:44ctureSubmitted by: i/cc
ane M. Moore
D. ctor of Housing
rigoy`en
Director of Redevelopment/Housing
Paul Gibson
Director of Finance
l mitt/ BY HOUSG AUTH
Carlos Ortega, ;ecutive Director ON
VERIFIED BY: f'`JK
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G.\RDA\Patty LeonUMM\staff report\Housing Cooperation Agrment Amended
Original on file with City Clerk's Office