Item Coversheet

CITY OF RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY BOARD OF COMMISSIONERS
AGENDA ITEM SUMMARY

Meeting Date: 8/26/2021 
Agenda Category:
Subject: BERKELEY LANDING PROJECT UPDATE
Recommendation/Motion: APPROVAL 
Originating Dept NEIGHBORHOOD SERVICES   Costs  
User Dept. Funding Source
AdvertisedNo Budget Account Number
Date   
Paper   
Affected PartiesNot Required   
Background/Summary: 

ON OCTOBER 8, 2020, THE BOARD DEEMED THE WENDOVER/PINNACLE TEAM THE SUCCESSFUL APPLICANT FOR A LOCAL GOVERNMENT AREA OF OPPORTUNITY FUNDING CONTRIBUTION LOAN/GRANT IN THE AMOUNT OF $640,000, NECESSARY TO APPLY FOR HOUSING CREDITS IN THE RFA 2020-2021 CYCLE.  THE SUBSIDY AWARD IS CONDITIONED UPON THE AWARD OF TAX CREDITS TO THE WENDOVER/PINNACLE GROUP FOR THE BERKELEY LANDING PROJECT.  ADDITIONALLY, THE SUBSIDY IS TO BE USED FOR THE DEVELOPMENT OF RENTAL HOUSING UNITS AFFORDABLE TO RESIDENTS WITH INCOMES NO MORE THAN 80% OF AREA MEDIAN INCOME AND NOT DISBURSED UNTIL CLOSING OF THE ENTIRE TRANSACTION.  STAFF IS PLEASED TO PRESENT THE FOLLOWING UPDATE.

 
Fiscal Years
Capital Expenditures
Operating Costs
External Revenues
Program Income (city)
In-kind Match (city) 
Net Fiscal Impact
NO. Additional FTE Positions
(cumulative)

III. Review Comments

A. Finance Department Comments:
 
B. Purchasing/Intergovernmental Relations/Grants Comments:
 
C. Department Director Review:
Contract Start Date 
Contract End Date
Renewal Start Date
Renewal End Date
Number of 12 month terms this renewal
Dollar Amount
Contractor Company Name
Contractor Contact
Contractor Address
Contractor Phone Number
Contractor Email
Type of Contract
Describe
ATTACHMENTS:
File NameDescriptionUpload DateType
MEMO-_BERKELEY_LANDING_PROJECT_UPDATE.pdfMEMO- BERKELEY LANDING PROJECT UPDATE8/19/2021Cover Memo
PRESENTATION-_BERKELEY_LANDING_PROJECT_Berkeley_.pdfPRESENTATION- BERKELEY LANDING PROJECT UPDATE8/19/2021Presentation
REVIEWERS:
DepartmentReviewerActionDate
CRAEvans, ScottApproved8/19/2021 - 7:18 PM
CRA Internal ReviewEvans, ScottApproved8/19/2021 - 7:19 PM