For Economic Development Committee [June 27, 2018]
TO: Honorable Economic Development Committee Members
APPROVAL: Robb R. Steel, Interim City Administrator
FROM: John Dutrey, Project Manager
Title
Recommend Entering into a Pre-Development Reimbursement Agreement of $50,000 with Time For A Change Foundation
Body
BACKGROUND:
Time For A Change Foundation (“TFCF”) is a non-profit organization in the Inland Empire dedicated to helping homeless women and children to transition to self-sufficiency. RFCF provides emergency shelters, permeant supportive housing and affordable housing for clients. They have successfully secured grants from U.S. Department of Housing and Urban Development.
ANALYSIS/DISCUSSION:
TFCF approached staff to develop a transitional and permanent housing facility at the northwest corner of Rialto Avenue and Olive Avenue on a 0.64 acre vacant lot consisting of several parcels owned by the Rialto Housing Authority (“RHA”) and the Rialto Successor Agency (Exhibit A). It selected the site since it is adjacent to the Rialto Resource Center (141 S. Riverside) and near public transit (Omnibus and Metrolink).
The non-profit currently proposes two buildings. The first is a single-unit with about four bedrooms for transitional housing. The second building is a four-plex as long-term housing until occupants obtain other permanent housing.
TFCF retained an architect and proposes to retain a civil engineer firm to prepare preliminary site and design plans and conduct Phase 1 and soil analysis. If they are successful moving the project forward, TFCF proposes to submit an entitlement application with the City, purchase the site, develop the site, and operate the facility as an affordable housing project.
An affordable housing agreement between the RHA and TFCF is needed to purchase the site, receive RHA funds and operate the facility. The RHA has about $500,000 of housing bond fund balance available for the project.
TFCF requests assistance of $50,000 as seed funds to pay consulting services prior to negotiating an affordable housing agreement. The $50,000 will be included as a residual loan as part of the affordable housing agreement.
RECOMMENDATION:
Staff recommends that the EDC recommend to the Rialto Housing Authority Board to approve a Pre-Development Reimbursement Agreement of $50,000 with Time For A Change Foundation.