SR-901-001-04 (2)
RMD:Housing:JM:BM:EAC\F:\RESOURCE\SHARE\StaffReports\Mt View RDA Funding 10-02c.doc
Council Meeting: October 22, 2002 Santa Monica, California
To: Mayor and City Council
Chairperson and Redevelopment Agency
From City Staff
Subject: Resolutions to 1)Authorize the City Manager/Executive Director to enter into a
Cooperation Agreement that Grants to the City Two Million Dollars from the
Redevelopment Housing Trust Fund to Assist in Financing the Acquisition of
the Mountain View Mobile Home Park; and 2) Make the Required Findings of
Benefit to the Earthquake Recovery Project Area
Introduction
This report recommends that both the City and the Redevelopment Agency adopt
resolutions authorizing the City Manager/Executive Director to execute a Cooperation
Agreement to complete the requirements of the grant process for the Redevelopment
Agency Housing Trust Funds used for the acquisition of the Mountain View Mobile Home
Park. The grant in the amount of two million dollars requires that the Park be operated as
affordable housing for very low, low, and moderate income residents for not less than 55
years.
Background
Mountain View is a 141-space mobile home park located at 1930 Stewart Street. The City
purchased the park on December 22, 2000 for approximately seven million dollars to settle
a lawsuit with the prior owner and preserve the mobile home park for affordable housing.
TORCA Housing Trust Funds were used to fund the majority of project costs with an
additional two million dollars provided by the Redevelopment Agency (RDA).
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Discussion
The Cooperation Agreement will allow the RDA to satisfy all remaining requirements
associated with the grant process. The project is already restricted to very low and low-
income households because TORCA funds were used. The Cooperation Agreement will
not further restrict income levels on the property.
The use of RDA funding allows for the preservation of a mobile home park, which has
provided an important affordable housing alternative for Santa Monica residents during the
past 50 years. Preservation of Mountain View as a mobile home park is consistent with the
City?s General Plan objectives and policies and the Implementation Plan of the RDA. In
addition, the project is of benefit to the Earthquake Recovery Project Area because it
preserves and increases the supply of low and moderate income housing within the City.
Along with the implementation of major park improvements, the City intends to keep the
park affordable, allow all existing residents to stay in the park, and create opportunities for
individual home ownership.
Budget/Financial Impact
There is no financial or budgetary impact.
Recommendations
Staff recommends that the City Council adopt a resolution:
1. Authorizing the City Manager to execute a Cooperation Agreement between the
City and the Redevelopment Agency to assist in financing the acquisition of the
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Mountain View Mobile Home Park and that requires the Park to be operated as
affordable housing for very low, low, and moderate income residents for not less
than 55 years; and
2. Finding that the acquisition is of benefit to the Earthquake Recovery Project
Area.
Staff recommends that the Redevelopment Agency adopt a resolution:
1. Authorizing the Executive Director to execute a Cooperation Agreement between
the City and the Redevelopment Agency to assist in financing the acquisition of
the Mountain View Mobile Home Park and that requires the Park to be operated
as affordable housing for very low, low, and moderate income residents for not
less than 55 years; and
2. Finding that the acquisition is of benefit to the Earthquake Recovery Project
Area.
Attachments: A - City Council Resolution
B - Redevelopment Agency Resolution
Prepared by: Jeff Mathieu, Director of Resource Management
Bob Moncrief, Housing and Redevelopment Manager
Tina Rodriguez, Redevelopment Administrator
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