HomeMy WebLinkAbout05/03/2023 6A AGENDA BILL
CITY OF BREMERTON
6A
CITY COUNCIL
(Item Added)
SUBJECT:Study SessionDate: N/A
Funding Award Agreement with Kitsap COUNCIL MEETING Date: May 3, 2023
Community Resources for the Purchase of
Department: Finance
Mills Crossing Affordable Housing Project
Presenter: Mike Riley
Phone: (360) 473-5306
SUMMARY:
Kitsap Community Resources (KCR) is preparingto purchase Mills Crossing with funding from
various sources and agencies. KCR has been awarded Rapid Capital Acquisition Housing Fund from
the Washington State Housing Trust Fund and is moving forward with the Purchase of Mills
th
Crossing. The City as committed on January 11is moving forward with the Award of thefinancial
commitment of up to $500,000 of American Rescue Plan Act funds towards thispurchase of 34
townhomes. KCR has agreed to maintain a period of affordability for a minimum of 30 years.
ATTACHMENTS:Funding Award Agreement
FISCAL IMPACTS(Include Budgeted Amount): ARP Funds budget previously approved
1/11/2023
STUDY SESSION AGENDA: LimitedPresentation Full Presentation N/A
STUDY SESSION ACTION:Consent Agenda General Business Public Hearing
RECOMMENDED MOTION:
Move to approve the Funding Award AgreementwithKitsap Community Resources for the purchase
and sale of Mills Crossing Low-income HousingUnits;and authorize the Mayorto finalize and
execute the agreement with substantially the same terms and conditions as presented.
COUNCIL ACTION: Approve Deny Table Continue No Action
Form Updated 11/09/2021