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CC - CONSENT ITEM: (1) Acceptance of State Funding of $1,000,000 for the Jubilo Village Affordable Housing Development (4464 Sepulveda Boulevard) and $500,000 for the Wende Museum Affordable Housing for Artists at Risk Development (10860 Culver Boulevard) through the Department of Housing and Community Development; and (2) FOUR-FIFTHS VOTE REQUIREMENT: Approval of a Budget Amendment to Record the Revenue of $1.5 Million and Appropriate the $1.5 Million to the Respective Projects.
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Meeting Date: January 8, 2023
Contact Person/Dept.: Jesse Mays/City Manager's Office
Phone Number: (310) 253-6000
Fiscal Impact: Yes [X] No [] General Fund: Yes [X] No []
Attachments: Yes [] No [X]
Public Notification: (E-Mail) Meetings and Agendas - City Council (01/03/2024)
Department Approval: John Nachbar, City Manager (01/02/2024)
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RECOMMENDATION
Staff recommends the City Council (1) accept State funding of $1,000,000 for the Jubilo Village Affordable Housing Development, located at 4464 Sepulveda Boulevard, and $500,000 for the Wende Museum Affordable Housing for Artists at Risk Development, located at 10860 Culver Boulevard, through the Department of Housing and Community Development; and (2) approve a budget amendment to record the revenue of $1.5 million and appropriate the $1.5 million to the respective projects (requires a four-fifths vote).
BACKGROUND/DISCUSSION
At the request of Assembly Majority Leader Issac Bryan, the 2023-24 California Budget Bill Jr. (Chapter 38, Statutes of 2023, AB 102) allocated to the City of Culver City $1,000,000 for the Jubilo Village Affordable Housing Development and $500,000 to the City of Culver City, for the Wende Museum: Affordable Housing for Artists at Risk. This allocation is payable from the State General Fund and will be disbursed by the Department of Housing and Community Development to the City. The restrictions...
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