HomeMy WebLinkAbout06/26/23 BUDGET FINANCE & ECD MEETING1613 JUN 23 AM 9: 52 ki
BAKERSFit '` ` 1Y ClERr_ BAKERSFIELD
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by City Clerk's Office
City of
Baker field
by
Staff: Committee Members:
Christian Clegg, City Manager
Gary Hallen, Assistant City Manager Councilmember, Andrae Gonzales - Chair
Mario Orosco, Budget Officer Councilmember, Ken Weir
Councilmember, Eric Arias
Regular Meeting of the
Budget, Finance and Economic Development Committee
of the City Council - City of Bakersfield
Monday, June 26,2023
12:00 p.m.
City Hall North, First Floor, Conference Room A
1600 Truxtun Avenue, Bakersfield CA 93301
AGENDA
1. ROLL CALL
2. PUBLIC STATEMENTS
a. Agenda Item Public Statements
b. Non -Agenda Item Public Statements
3. ADOPTION OF THE MAY 22, 2023, AGENDA SUMMARY REPORT
4. NEW BUSINESS
a. Presentation on Affordable Housing Trust Fund- Notice of Funding Award
Recommendations
(Staff recommends receive and file presentation)
b. Economic Opportunity Area Program Review and update on program
guidelines
(Staff recommends adopting revised EOA Program guidelines)
5. COMMITTEE COMMENTS
6. ADJOURNMENT
BAKERSFIELD
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Staff: Committee Members:
Christian Clegg, City Manager Councilmember, Andrae Gonzales - Chair
Gary Hallen, Assistant City Manager Councilmember, Ken Weir
Mario Orosco, Budget Officer Councilmember, Eric Arias
Regular Meeting of the
Budget, Finance and Economic Development Committee
of the City Council - City of Bakersfield
Monday, May 22, 2023
12:00 p.m.
City Hall North, First Floor, Conference Room A
1600 Truxtun Avenue, Bakersfield CA 93301
AGENDA SUMMARY REPORT
Meeting called to order at 12:02 p.m.
1. ROLL CALL
Committee Members Present:
Committee Members Absent:
City Staff Present:
Councilmember Andrae Gonzales - Chair
Councilmember Eric Arias
Councilmember Weir
Christian Clegg, City Manager
Julie Drimakis, City Clerk
Josh Rudnick, Deputy City Attorney
Joe Conroy, Public Information Officer
Cecilia Griego, Principal Planner (ECD)
Randy McKeegan, Finance Director
Jason Cater, (ECD Manager)
Michelle Cruz, Management Assistant
Additional Attendees: Members of the Public and other City Staff
2. PUBLIC STATEMENTS
a. Agenda Item Public Statements
None
b. Non -Agenda Item Public Statements
None
3. ADOPTION OF THE APRIL 24, 2023, AGENDA SUMMARY REPORT
Motion to adopt the April 24, 2023, Agenda Summary Report by
Committee Member Gonzales. Motion approved with Committee Member
Weir absent.
4. NEW BUSINESS
a. Presentation on approach to Redevelopment Area Plans
(Informational item only; Staff recommends receive and file)
City Manager Christian Clegg gave a presentation on the Redevelopment
Area Plans.
Motion by Committee Member Arias to receive and file. Motion
approved with Committee member Weir absent.
b. Pensions and Other Post Employment Benefit (OPEB) Forecast
(Informational item only; Staff recommends receive and file)
Finance Director Randy McKeegan gave a presentation on Post Employment
(OPEB) Forecast.
Motion by Committee Member Arias to receive and file. Motion
approved with Committee Member Weir absent.
c. Quarterly Sales Tax Update
(Informational item only; Staff recommends receive and file)
Finance Director Randy McKeegan gave a presentation on Quarterly Sales
Tax Update.
Motion by Committee Member Arias to receive and file. Motion
approved with Committee Member Weir absent.
5. COMMITTEE COMMENTS
Budget, Finance and Economic Development Committee
Regular Meeting May 22, 2023, Agenda
Page 2
ADJOURNMENT
Meeting was adjourned at 1:1 1 p.m.
ANDRAE GONZALES, CHAIR
BUDGET AND FINANCE COMMITTEE
ATTEST:
JULIE DRIMAKIS, MMC
CITY CLERK and Ex Officio Clerk of
the Council of the City of Bakersfield
Budget, Finance and Economic Development Committee
Regular Meeting May 22, 2023, Agenda
Page 3
(03
BAKERSFIELD
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MEMORANDUM
DATE: June 21, 2023
TO: Budget & Finance Committee
FROM: Jennifer M. Byers, Acting Economic & Community Development Director
SUBJECT: Affordable Housing Trust Fund — Notice of Funding Availability Award Recommendations
Background: On July 14, 2021 the Bakersfield City Council adopted Resolution No. 124-2021 to establish the
Bakersfield Affordable Housing Trust Fund (AHTF). The intent of the AHTF was to use local funds to leverage and
draw in additional outside resources to increase the pool of financing to support the construction of affordable
housing.
On May 12, 2023, the City of Bakersfield released its Notice of Funding Availability (NOFA) to solicit proposals from
qualified applicants to construct quality, affordable housing. The NOFA included the following sources of funding:
Affordable Housing Program
Allocation
Public Safety and Vital Service
$500,000
FY 2021/22 Affordable Housing Trust Fund Local Housing Trust Fund Match
$2,929,875.00
FY 2022/23 Affordable Housing Trust Fund Local Housing Trust Fund Match
$4,147,285.35
Total
$7,577,160.35
NOFA Results: Cumulatively, the NOFA was open for 32 days. Thirteen applications were submitted by 12
applicants requesting $36,924,399 to build/rehabilitate approximately 679 housing units. Consistent with the
NOFA, applications were reviewed and scored by three internal staff members using the following criteria:
- The experience and financial capability of the development team;
- The relationship of the proposed development to the surrounding community, its quality,
configuration, appearance, and service of community needs;
- Market conditions, project feasibility, and level of current funding commitment to beginthe
Project;
- Project readiness;
- Consistency with the goals and objectives of the Affordable Housing Trust Fund;
- Application completeness as it relates to the requirements of this NOFA.
Recommendations: Staff has prepared the attached Memorandum and recommendations for funding. After
today's presentation, staff will be contacting the proposed applicants to discuss next steps. Each project receiving
a reserved allocation of funding will be subject to further underwriting and funding adoption by the Bakersfield
City Council prior to officially receiving a commitment of funds.
This item is an informational item only, therefore staff recommends that the Budget and Finance committee
receive and file the presentation.
Attachments:
A. Affordable Housing Trust Fund Funding Recommendations
Attachment A
2023 Bakersfield Affordable Housing Trust Fund (AHTF) Affordable Housing Funding Recommendations
Rank
Project Name
Applicant
Units
$ Request
Recommendation
Source
Comments
Ward
Housing
Authority of
Bakersfield Senior
the County of
35-unit senior affordable housing mixed -use
1
Kern/
$2,000,000
$2,000,000.00
Al I1F
35
2
Center
Bakersfield
development
Senior Center,
Inc
8S-unit affordable housing complext with
2
Renaissance at
Cesar Chavez
$2,056,205
$2,056,205.00
AHTF
85
5,000 square feet of ground floor
2
Baker
Foundation
commercial
Housing
SO affordable housing units and a
2
Niles Street
Authority of
$2,000,ODO
$1,468,796.00
AHTF
51
managers unit. (Planned relocation of Plaza
3
the County of
Towers and Plaza Towers Annex
Kern
Developments).
GEHI / Housing
Authority of
One story fourplex development on a
3
1209 M Street
the County of
$583,363
$583,363.00
PSVS & AHTF
4
vacant infill lot.
2
Kern
60 unit affordable housing community that
3
Auburn Street
Chelsea
Investment
$2,500,000
$1,468,796.00
AHTF
includes 1 manager's unit. 59ursits will be
3
Apartments
restricted to incomes ranging from 30% to
Corporation
60% of AMI.
Wakeland
54-unit multifamily development consisting
Housing and
of S3 studio units and one two -bedroom
Development
unit for the on -site manager. The proposed
2
4
6275umner Street
Corporation
$6,491,185
$0
54
development is a new construction
Mercy House
supportive apartment community of one,
CHDO, Inc.
four story building.
Construction of phase 1 of 3; phase 1 will
4
College Avenue
DANCO Group
$7,577,160
$0
63
include restricted units, 1 manager's
3
Apartments
of Companies
unit,t, community
and community building.
8-units within two duplexes to assist
5
The Owens
Gordco
$508,600.00
$0
8
households with an income lets than 60%of
2
Apartments
Enterprises LLC
the AMI.
36-unit multifamily development consisting
Auburn Oak
Auburn Oaks
of 12 - one bedroom/ one bath and 24 - two
3
S
Apartments
LP
$500,000
$0
3
bedroom/ two bath. 3 of those units will be
avilable to renters at or below 120%.
Rehabiliate an existing structure in
6
Northrup Housing
Pacific
$707,886
$0
8
southeast Bakersfield into 8-units of
2
Engineering
affordable housing
86-unit mixed -income housing with
7
Eye Street Modern
Brower
$2,500,000
$0
60
commercial tenants on the ground floor in
2
Living
Holding LLC
downtown Bakersfield.
Shri Durga Wi
Shri Durga
168-unit low-income senior living
7
8
Senior Livingg
Wible Senior
$7,000,000
$0
168
apartment complex.
-Living
Rockwell
80 unit housing project (requesting
2
9
The Park
Development
$2,500,000
$0
80
additional information from applicant)
$36,924,399 $7,577,160.00 679