HomeMy WebLinkAboutExplanationExplanation
On January 30, 2012, a Catalyst Community Grant Program Application in the amount of
$500,000 was submitted with the State of California Department of Housing and Community
Development for the Westside Infill Transit Oriented Development Project, for pre -development
work loan. The pre -development work loan is identified in the Disposition and Development
Agreement between the Community Development Commission of the City of National City and
Paradise Creek Housing Partners, LP. The loan funds all pre -development work including
geotechnical and environmental studies, supplemental CEQA if necessary, architectural design
and land planning, biological studies, civil engineering, land use entitlements and permits. These
categories are summarized as: architectural and engineering; permits and fees; G & A and legal;
construction costs allowance; and CDLAS and TCAC fees. The purpose of these activities is to
be construction -ready to build the project.
If the application submitted to the State is approved, the City's Housing Authority is authorized
and directed to enter into, execute and deliver a State of California Memorandum of
Understanding, a State of California Standard Agreement, and any and all other documents
required or deemed necessary or appropriate by the Department of Housing and Community
Development. The City's Housing Authority shall be subject to the terms and conditions
specified in the State's Standard Agreement, terms of the State's Memorandum of
Understanding, and use of any funding shall be used for allowable capital asset project
expenditures identified in the Standard Agreement.
This submittal needs to be ratified by the Housing Authority.