That City Council and Housing Authority:
1. Adopt City Council Resolution 2025-XX to (a) approve disposition of Site pursuant to HOME Investment Partnership and Affordable Housing Agreement (Lantana Court) between the Moreno Valley Housing Authority and Mary Erickson Community Housing (b) approve (i) Cooperation Agreement (Lantana Court) between City and Authority, and (ii) Reimbursement Agreement for Public Improvements (Lantana Court Affordable Housing Project) among City, Authority and Developer, and (c) authorize the Mayor and/or City Manager to execute and City Clerk to attest such Agreements, (c) authorize City Manager to make non-substantive revisions to, and carry out such Agreements, including implementing documents, as approved by the City Attorney (or special council), and (d) make certain other findings.
2. Adopt Housing Authority Resolution 2025-XX to (a) approve disposition of Site pursuant to HOME Investment Partnership and Affordable Housing Agreement (Lantana Court) between the Moreno Valley Housing Authority and Mary Erickson Community Housing, (b) approve (i) HOME Investment Partnership and Affordable Housing Agreement (Lantana Court), (ii) Cooperation Agreement (Lantana Court) between City and Authority, and (iii) Reimbursement Agreement for Public Improvements (Lantana Court Affordable Housing Project) among City, Authority and Developer, (c) authorize Chair and/or City Manager to execute and City Clerk to attest such Agreements, (d) authorize Executive Director to make non-substantive revisions and carry out Agreements, including implementing documents, as approved by the City Attorney (or special council), and (e) make certain other findings.
3. Authorize the City Attorney (or special council) to finalize the Agreements, prepare related instruments and implement the Lantana Court Affordable Ownership Housing Project as presented in this report.
4. Authorize City Manager/Executive Director to execute implementing documents and instruments to the Agreements subject to the approval of the City Attorney (or special council).
5. Approve budget adjustments to the adopted budget as set forth in the Fiscal Impact section of this report. This project will be funded with HOME Program, Measure A, and the Authority's Low to Moderate Income Housing Asset Fund.