Agenda Item Wording:
title
Authorize Homekey+ Grant Application - Authorize staff to apply for Homekey+ funding not to exceed $12 million to assist with the development of Crescent Meadows, a senior affordable housing complex with 25 Homekey+ eligible units, upon the completion of the application by the partner agency Crescent Meadows, L.P. to fully comply with the grant and City requirements.
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Deadline for Action: 2/3/2025
Submitting Department: Finance and Technology Services
Contact Name and Phone Number: Margie Perez, Housing Specialist, margie.perez@visalia.city, (559)713-4460; Melody Murch Assistant Finance Director, melody.murch@visalia.city, (559)713-4379; Renee Nagel, Finance Director, renee.nagel@visalia.city, (559)713-4375
Department Recommendation:
Staff recommends that Council:
* Receive a summary of the funding available for the Homekey+ program and authorize staff to submit a joint application with Crescent Meadows L.P. for the Homekey+ 2024 Notice of Funding Available (NOFA) not to exceed $12 million dollars to assist with the development of Crescent Meadows to provide senior affordable housing with 25 Homekey+ eligible units for senior experiencing or at-risk of homelessness;
* Adopt Resolution 2025-02 authorizing a joint application with Crescent Meadows, L.P., for the Homekey+ program as required by California Department of Housing and Community Development; and
* Authorize the Mayor to sign Resolution 2025-02.
Background Discussion:
On November 26, 2024, the California Department of Housing and Community Development (HCD) in collaboration with the California Department of Veterans Affairs (CalVet), announced the availability of approximately $2.145 billion of Homekey+ grant funding statewide and approximately $117 million will be available for the San Joaquin Valley, derived from Proposition 1 as shown in Attachment "A" - Homekey+ NOFA. Homekey+ is the permanent housing com...
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