Agenda Item
3 24-0413 Subject: Housing Accelerator Fund
From: Housing And Community Development Department
Recommendation: Adopt A Resolution (1) Authorizing A $10 Million Unsecured Recourse Loan To The Housing Accelerator Fund To Establish A Fund To Finance Affordable Housing Acquisition And Rehabilitation, And Allocating Measure U Bond Funds For This Purpose; (2) Authorizing And Allocating $30 Million In Measure U Bond Funds For Permanent Financing To Take-Out These Acquisition And Rehabilitation Loans; And (3) Making Related California Environmental Quality Act Findings
I am writing to you on behalf of The Unity Council (TUC) to express our strong support for item 3, file #24-0413, The Housing Accelerator Fund (HAF), on your agenda for the June 11 CED committee meeting.
Our organization has been deeply involved in anti-displacement and preservation work since the inception of the ACAH program. With over six decades of commitment to Oakland's housing landscape, to date, The Unity Council has successfully built or preserved over 600 apartments, with an additional 550 units currently in various stages of development, reflecting our commitment to housing in Oakland & long-steady partnership with the City of Oakland.
We are committed to working alongside the City and the HAF to support this initiative and ensure its success.