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co <br />IQ t R tDt <br />Housing Authority <br />Memorandum <br />flit, "I rl".S & Inrlos , 01,. i On <br />TO: HOUSING AUTHORITY COMMISSIONERS DATE: April 24, 2012 <br />FROM: DEVELOPMENT DEPARTMENT ITEM NO: 23 <br />WARD: 2 <br />SUBJECT: PROPOSED SECOND AMENDMENT TO THE PROPERTY MANAGEMENT <br />AND OPERATING AGREEMENT WITH NATIONAL COMMUNITY <br />RENAISSANCE OF CALIFORNIA FOR THE THE MANAGEMENT OF <br />APARTMENTS LOCATED AT 1705, 1725, 1733 AND 1833 -1837 SEVENTH <br />STREET AND 1740 LOMA VISTA STREET <br />ISSUE: <br />The issue before the Housing Authority for consideration is a Second Amendment to the Property <br />Management and Operating Agreement (Second Amendment — Exhibit A) with National Community <br />Renaissance of California ( "National CORE ") for the management of 72 apartment units located at <br />1705, 1725, 1733, and 1833 -1837 Seventh Street and 1740 Loma Vista Street (Properties). <br />RECOMMENDATIONS <br />That the Housing Authority: <br />1) Approve the Second Amendment with National CORE for the management of 72 apartment <br />units located at 1705, 1725, 1733, and 1833 -1837 Seventh Street and 1740 Loma Vista <br />Street; and, <br />2) Authorize the Executive Director or designee to execute the Second Amendment and to <br />make non - substantive changes as necessary to implement the Second Amendment. <br />BACKGROUND <br />On October 19, 2004, the City Council approved the revitalization of the multi - family and single - <br />family residential area commonly known as the Chicago /Linden Neighborhood, bordered by <br />Chicago Avenue, Linden, Ottawa and Seventh Streets (Site map — Exhibit B). The city's plan <br />includes acquiring properties as they become available within the Chicago /Linden Neighborhood for <br />replacement of substandard buildings with new affordable housing. In the interim, while properties <br />are assembled and the economy rebounds, purchased properties will receive any necessary minor <br />rehabilitation for use as affordable rentals. <br />To date, four properties containing 74 apartments have been purchased in the Chicago /Linden <br />Neighborhood and are under the ownership of the Housing Authority. National CORE was <br />previously selected through a Request for Proposal to provide on -site management for three of the <br />properties. The fourth property, at 1740 Loma Vista, was recently acquired and staff recommends <br />23 -1 <br />