RECOMMENDATION(S):
APPROVE and AUTHORIZE the Director of Conservation and Development, or designee, to allow the rental of the deed-restricted residential real property located at 1556 Martin Drive, North Richmond, identified as Assessor’s Parcel No. 408-230-071, to a qualified tenant for a period of up to two years.
FISCAL IMPACT:
No General Fund impact. The Parkway Estates development was supported in part with Community Development Block Grant and former Contra Costa Redevelopment Agency funds.
BACKGROUND:
On September 19, 1995, the Governing Board of the Contra Costa County Redevelopment Agency (Agency) approved the Second Amendment to the Parkway Estates Development Loan Agreement in North Richmond. This Second Amendment set forth requirements to be met by local non-profit housing developer Community Housing Development Corporation of North Richmond to construct 87 for-sale single family homes on a 10 acre site formerly known as 217 West Gertrude Avenue. Twenty-five of the 87 units were required to be sold to low income homebuyers. In addition, the Agreement stated that all low-income buyers must enter into a Buyer’s Resale Restriction Agreement (Resale Agreement) with the following requirements:
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