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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. 15 <br />A RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF RIVERSIDE, <br />CALIFORNIA, SUPPORTING NEIGHBORHOOD PARTNERSHIP HOUSING <br />SERVICES, INC.'S SUBMISSION OF AN APPLICATION TO THE MULTIFAMILY <br />HOUSING PROGRAM ADMINISTERED BY THE CALIFORNIA DEPARTMENT OF <br />HOUSING AND COMMUNITY DEVELOPMENT AND AUTHORIZING THE <br />EXECUTION OF ALL REQUIRED DOCUMENTS BY THE EXECUTIVE DIRECTOR <br />OR HIS DESIGNEE. <br />WHEREAS, the State of California Department of Housing and Community Development <br />("Grantor"), has heretofore invited public agencies and not-for-profit housing developers, to submit <br />applications to Grantor for the Fiscal Year 2019 Multifamily Housing Program ("Program") via a <br />Notice of Funding Availability dated. 19 June 2019; and <br />WHEREAS, the Housing Authority of the City of Riverside ("Housing Authority"), a public <br />entity, has received a proposal from Neighborhood Partnership Housing Services, Inc. for the <br />construction of a 28 -unit Permanent Supportive Housing project on Housing Authority owned <br />property located in the La Sierra Neighborhood at 11049 Bogart Street, Riverside, California; and <br />WHEREAS, in response to this Notice of Funding Availability, the Housing Authority wishes <br />to support Neighborhood Partnership Housing Services, Inc.'s application to the Program for, and <br />receive an allocation of, Program fund for the 11049 Bogart Street Permanent Supportive Housing <br />Project; and <br />WHEREAS, the Housing Authority is willing to write down the value of the property to a de <br />minimis value to support the 11049 Bogart Street Permanent Supportive Housing Project pursuant to <br />the successful award of Program funds and negotiation of a Disposition and Development Agreement; <br />and <br />WHEREAS, the Housing Authority is familiar with the terms, conditions and limitations of <br />any such Program; and <br />WHEREAS, Grantor must approve said application from Neighborhood Partnership Housing <br />Services, Inc. and a Program award will require the Housing Authority to correspond its Disposition <br />and Development Agreement with Program documents in order for Innovative Housing Opportunities <br />to utilize Program funding. <br />CITY ATTORNEY'S OFFICE <br />3750 UNIVERSITY AVE., STE. 250 <br />RIVERSIDE, CA 92501 <br />(951) 826-5567 <br />