City of Emeryville - File #: ID-2024-397

• File #: ID-2024-397
• Version: 1
• Type: CC Resolution
• Status: Passed
• File created: 10/3/2024
• In control: City Council
• On agenda: 10/15/2024
• Final action: 10/15/2024
• Title: Resolution Of The City Council Of The City Of Emeryville Authorizing The City Manager To Execute The First Amendment To The Regulatory Agreement Between The City Of Emeryville And Avalon Senior Housing, L.P, For Avalon Senior Apartments At 3850 San Pablo Avenue To Increase The Average Income Limits From 37% Of Area Median Income To 40% Of Area Median Income. (Chadrick Smalley / Valerie Bernardo)

Date	Ver.	Action By	Action	Result
10/15/2024	1	City Council	approve	Pass

Title

Resolution Of The City Council Of The City Of Emeryville Authorizing The City Manager To Execute The First Amendment To The Regulatory Agreement Between The City Of Emeryville And Avalon Senior Housing, L.P, For Avalon Senior Apartments At 3850 San Pablo Avenue To Increase The Average Income Limits From 37% Of Area Median Income To 40% Of Area Median Income.  (Chadrick Smalley / Valerie Bernardo)

Recommendation

Staff recommends that the City Council adopt the attached resolution authorizing the City Manager to execute the First Amendment To Regulatory Agreement between the City and Avalon Senior Housing, LP, for the Avalon Senior Apartments, located at 3850 San Pablo Avenue, for the purposes of increasing the average income limits from 37% of the Area Median Income (“AMI”) to 40% AMI, to support the refinancing and rehabilitation of the development.