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CC/HA: ACTION ITEM - Discussion and (if Desired) Approval of a Request by Community Corporation of Santa Monica (Community Corp) to Increase a Loan Commitment and Modify the Project Description for a Proposed 100% Affordable Housing Project to be Developed in Partnership with Culver Palms United Methodist Church at 4464 Sepulveda Boulevard, Culver City
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Meeting Date: June 13, 2022
Contact Person/Dept.: Tevis Barnes/CDD - Housing,
Sol Blumenfeld/CDD
Phone Number: (310) 253-5700
Fiscal Impact: Yes [X] No [ General Fund: Yes [] No [X]
Attachments: Yes [X] No []
Commission Action Required: Yes [] No [X]
Public Notification: (E-Mail) Meetings and Agendas - City Council (06/08/2022); Community Corporation of Santa Monica (05/26/2022); Culver Palms United Methodist Church (05/26/2022); Advisory Committee on Housing and Homelessness (05/31/2022); and Landlord Tenant Mediation Board (06/09/2022)
Department Approval: Sol Blumenfeld, Community Development Department (06/07/2022)
RECOMMENDATION
Staff recommends the City Council and the Housing Authority (Authority) Board discuss and, if desired, approve the request by Community Corporation of Santa Monica (Community Corp.) to modify the original Loan Commitment Letter to increase the number of units from 75 to 95 and increase the Loan Commitment amount from $2 million to $4 million for a proposed 100% affordable housing project to be developed in partnership with Culver Palms United Methodist Church at 4464 Sepulveda Boulevard (Project).
BACKGROUND
Regional Housing Needs Assessment
The Project is to be developed in partnership with property owner Culver Palms United Methodist Church and will include a mixed-use project on the church property. The City would obtain 95 affordable housing units that would help address its Southern California Association of Governments (SCAG) Regional Housing Needs Assessment (RHNA) goals. In the current RHNA housing...
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