REPORT TO COUNCIL
SUBJECT
Title
Action on Loan Agreement with Allied Housing, Inc. for a Loan of up to $4,000,000 to Support the Construction of 80 Affordable Housing Units at 3333-3337 Kifer Road and Approve the Related Budget Amendment
Report
COUNCIL PILLAR
Promote and Enhance Economic, Housing and Transportation Development
BACKGROUND
The project, Kifer Senior Housing project, is a 100% affordable residential rental development, to be constructed on a rectangular 0.52-acre parcel at 3333-3337 Kifer Road, just west of the intersection of Kifer Road and Corvin Drive. The assessor's parcel number is 216-33-035 ("Site").
The development will contain 79 senior affordable housing development units with long-term affordability restrictions in Santa Clara, CA with incomes at or below 60% of area median income (AMI) and one unrestricted manager unit. 39 of these units will be set aside for formerly chronically homeless senior (55+) residents with incomes at or below 30% of AMI (supportive housing households). The developer of the project is Allied Housing, Inc. ("Allied"), in partnership with Abode Services as the primary service provider and the John Stewart Company as the property manager. The County Office of Supportive Housing would be responsible for coordinating and providing ongoing onsite supportive services for the 39 permanent supportive housing households through a contract with Abode Services.
Several community amenities will be incorporated into the Project's programming, including a ground floor community room, property management office, resident services office, elevator lobby and bike storage room. The second floor will have another designated community space overlooking Kifer Road and a solarium is proposed at the top floor adjacent to the shared outdoor patio. Common laundry rooms will be available at the second through sixth floors.
DISCUSSION
The Kifer Senior Housing project has been awarded $14 million from the County of Santa Cla...
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