City of Brentwood
Home PageContact Us!Back

City Administration

2010 Council Goals and Strategic Plan | City Council Members | Calendar of Events | Elections
eNotification | Sub-Committees| Pledge of Allegiance Sign Ups | Invocation Sign Up
Live Streaming Council Meeting | Streaming PC Help |
Streaming Mac Help |

Current Council Agenda and Past Meeting Information

 

REDEVELOPMENT AGENDA ITEM NO. 2

Meeting Date: February 28, 2006

Subject/Title: Authorize the Executive Director or her designee to execute an Affordable Housing Covenant with Brentwood Green Valley Associates for Green Valley Apartments, a 28-unit multi-family apartment complex located at 8510 Brentwood Boulevard

Prepared by: Donald Kwong, Senior Redevelopment Analyst

Submitted by: Howard Sword, Community Development Director

RECOMMENDATION
Authorize the Executive Director or her designee to execute an Affordable Housing Covenant with Brentwood Green Valley Associates for Green Valley Apartments, a 28-unit multi-family apartment complex located at 8510 Brentwood Boulevard

BACKGROUND
In 1991, the Redevelopment Agency of the City of Brentwood contributed $300,000 to the development and construction of the 28-unit Green Valley Apartments. A Deed of Trust was recorded to secure the indebtedness.

In 2002, the Redevelopment Agency conducted a survey of affordable housing inventory within the Merged Project Areas. It was discovered that the Agency did not have an affordability agreement for the 28-unit Green Valley Apartments, and without said agreement the units could not be counted towards the Agency’s inclusionary housing goal. Subsequently, Agency staff worked the with property owners to execute an agreement to count the units in favor of the Agency.

Green Valley is currently operated by Mercy Housing California. Mercy Housing California is a non-profit developer and has been in business for 23 years. They currently own and operate 5,253 housing units throughout California.

The apartments are located inside of the Merged Project Area and therefore the Agency will have the ability to count 27 units (one unit designated for on-site manager) from this project towards its housing production goals for the Agency.

FISCAL IMPACT
None.

Attachments
Affordable Housing Covenant
 

City Administration
City of Brentwood City Council
150 City Park Way
Brentwood, CA 94513
(925) 516-5440
Fax (925) 516-5441
E-mail allcouncil@brentwoodca.gov