For the City of Rialto, Acting as the Successor to the Redevelopment Agency and Rialto Housing Authority Meeting [January 23, 2018]
TO: Honorable Mayor/Chair and City Council/Authority Board
FROM: Robb R. Steel, Interim City Administrator/Executive Director
Title
Request City Council, Acting for the Successor Agency to the Redevelopment Agency of the City of Rialto to (1) Adopt Resolution No. SA3-18; and (2) the Rialto Housing Authority to Adopt Resolution No. 001-18 approving the Housing Bond Proceeds Expenditure Agreement between the Successor Agency and the Rialto Housing Authority in the amount of $544,144 for affordable housing projects.
(ACTION)
Body
BACKGROUND:
On January 23, 2018, the City Council, acting for the Successor Agency (RSA), will consider the Recognized Obligation Payment Schedule (known as ROPS 18-19 - Item # 199) for fiscal year 2018-19. The ROPS 18-19 proposes disbursement of $544,144 of Housing Bond Proceeds from 2008 Series B Bond (known as "Housing Bond Proceeds").
On May 14, 2015, the Rialto Housing Authority (RHA) entered into an exclusive right to negotiate with National Community Renaissance and Related California ("Developer") to develop an affordable housing project in the Downtown Rialto area. In June 2015, the Developer submitted proposals for three separate sites as follows:
* Riverside Avenue and Rialto Avenue Site. Situated at the northeast corner of Riverside Avenue and Rialto Avenue on a 1.7-acre site owned by the RSA and the RHA.
* Bonnie View Avenue at South Metrolink Station. Situated on the north side of Bonnie View Drive, just west of Riverside Avenue and south of the Metrolink station on a 2.6-acre site consisting of two vacant parcels.
* Rialto/Palm Avenue at North Metrolink Station. Situated on the north side of Rialto Avenue, between Palm Avenue and Orange Avenue on a site of 1.24 acres consisting of several parcels owned by the RHA, SA, and the City.
In August 2015, the California Department of...
Click here for full text