This facility is disabled accessible.  Auxiliary aids and services are available for individuals with speech, vision or hearing impairments (48-hour notice is required).  Please contact the ADA Coordinator at (818) 238-5021 voice or (818) 238-5035 TDD with questions or concerns.

 

 

5:30 P.M. CLOSED SESSION IN CITY HALL BASEMENT LUNCH ROOM/ CONFERENCE ROOM.

 

a.      Conference with Real Property Negotiator:

Pursuant to Govt. Code �54956.8

Agency Negotiator:  Assistant Executive Director/Susan Georgino.

Property:  150 East Providencia, Burbank, California.

Party With Whom Agency is Negotiating:  Robert Strickland, 150 East Providencia, Burbank, California.

Name of Contact Person:  Ruth Davidson-Guerra.

Terms Under Negotiation:  Instruction to negotiator will concern price and terms of payment concerning the purchase of real property.

 

b.      Conference with Real Property Negotiator:

Pursuant to Govt. Code �54956.8

Agency Negotiator:  Assistant Executive Director/Susan Georgino.

Property:  1722 Elliot Drive, South of Peyton Avenue between Grismer Avenue to the east and Keeler Street to the west.

Party With Whom Agency is Negotiating:  Burbank Housing Corporation, 1819 Grismer Avenue, Burbank, California  91504.

Name of Contact Person:  Doug Swoger.

Terms Under Negotiation:  Terms of payment.

 

When the Agency reconvenes in open session, the Agency may make any required disclosures regarding actions taken in Closed Session or adopt any appropriate resolutions concerning these matters.

 

 

6:30 P.M.

 

                                                                             

INVOCATION:                      

                                                The Courts have concluded that sectarian prayer as part of City

                                                Council meetings is not permitted under the Constitution.

FLAG SALUTE:

 

ROLL CALL:

 

 

JOINT MEETING WITH THE CITY COUNCIL:

 

1.      Consideration of An affordable housing agreement for 157 west linden avenue and 160 WEST elm court/159 west linden avenue:

 

The purpose of this report is to provide the Council and Redevelopment Agency (Agency) Board with information to consider an Affordable Housing Agreement between the City of Burbank, the Agency and the Burbank Housing Corporation (BHC), to assist the BHC with acquiring and rehabilitating 10 rental units located at 157 West Linden Avenue and 160 West Elm Court/159 West Linden Avenue (Project).

 

Since 1997, the City and Agency have partnered with the BHC to support its ongoing efforts to acquire and rehabilitate properties in focus neighborhoods.  This partnership has been an instrumental component to improving the housing stock, providing affordable housing opportunities, developing neighborhood-based Family Resource Centers and improving the overall living conditions of residents in the Elmwood, Golden State, Verdugo-Lake and Peyton-Grismer Focus Neighborhoods.

 

In 2005, the Lake-Alameda Focus Neighborhood was formally established at the direction of the Council/Agency Board.  The proposed acquisition and rehabilitation of 157 West Linden Avenue and 160 West Elm Court/159 West Linden Avenue will be the first Project in this newest focus neighborhood.  These properties are adjacent to each other, owned by separate parties and are both opportunity purchases.  The BHC entered into separate purchase agreements with these property owners for a combined purchase price of $1.945 million.  The agreements are contingent upon City and Agency Board approval of financing and an Affordable Housing Agreement.  On January 23, 2006, the BHC submitted a proposal requesting the City and Agency provide financing to acquire and rehabilitate the properties for the Project.

 

The scope of rehabilitation work will vary for each property.  The proposed rehabilitation work for both properties is estimated to cost approximately $571,875.  In general, rehabilitation of the eight rental units and the reconfiguration of the two units into a four-bedroom, single-family unit will include the following improvements:

 

�      New pitched roof (157 West Linden only);

�      Reconstruction of a concrete wall (157 West Linden Avenue only);

�      Repairs to stairs and decks (157 West Linden Avenue only);

�      Abatement of asbestos and lead-based paint (except 160 Elm Court);

�      Renovation of kitchens and bathrooms (except 160 Elm Court);

�      Upgraded heating and air conditioning systems (except 160 Elm Court);

�      Replacement of exterior doors and windows (except 160 Elm Court);

�      Upgraded electrical and plumbing systems (except 160 Elm Court);

�      Repair and painting of interior and exterior walls;

�      New carpeting; and,

�      Landscaping/site work.

 

To perform rehabilitation, it will be necessary to relocate the current residents of these properties.  Agency staff has contacted Overland Pacific Cutler, Inc., an experienced acquisition and relocation firm, to prepare a relocation plan for this Project.  The total, actual amount of relocation assistance that may be necessary to relocate the nine households has not yet been determined.  The relocation budget for the Project is estimated to be $76,000.

 

The proposed Project will be structured as a mixed-income project.  The BHC is to restrict occupancy and rent five of the units at an affordable rate to very low-income households (gross annual income not exceeding 50 percent of the Los Angeles family median income, as adjusted for household size).  The units will be rented at the lesser of Low HOME rents or Agency Very Low-Income rents.  The remaining four units are to be rented at an affordable rate to lower-income households (gross annual income not exceeding 80 percent of the Los Angeles family median income, as adjusted for household size) at the lesser of High HOME rents or Agency Low-Income rent.

 

The total estimated cost of the Project is $3,176,788.  This amount includes:  the property acquisition cost of $1,945,000; an estimated relocation budget of $76,000; an estimated rehabilitation cost of $571,875; and, indirect costs of $583,913 for the development of the Project.

 

Financial assistance for the acquisition and rehabilitation of the properties is proposed to be provided through two loans.  The loan from the City�s HOME Funds in the amount of $1,442,415 will be forgiven at the end of 55 years if all loan terms are met as outlined in the agreement.  The Agency loan of Low and Moderate-Income Funds for $1,232,217 will be amortized over a 55-year period, at three percent simple interest and repaid annually through residual receipts generated by the properties.  These loan terms are contingent on the completion of the United States Department of Housing and Urban Development�s environmental review process and authorization for the use of HOME Funds.  Should the HOME Funds not be received, the total Project will be funded with Low and Moderate-Income Housing Funds.  The Agency will as necessary, be responsible to relocate the exiting tenants at the properties at a budgeted cost of $76,000.  Finally, the BHC will contribute $48,625 in equity to the Project.