Title
Adoption of Resolution Authorizing the City Manager, or Designee, to Enter into and Execute a Standard Agreement for Stardust Gardens to Secure $15,000,000 in Multifamily Housing Program (MHP) Gap Funding and All Amendments Thereto (Collectively, the “Program Award Documents”).
In accordance with the California Environmental Quality Act (CEQA), this action is categorically exempt from further environmental review pursuant to CEQA Guidelines Sections 15268 (Ministerial Action) and 15061(b)(3) (Common Sense Exemption). (Base Reuse and Economic Development 29061822)
Body
To: Honorable Mayor and Members of the City Council
From: Gerry Beaudin, City Manager
EXECUTIVE SUMMARY
On August 11, 2026, the City of Alameda (City) and MidPen Housing Corporation (MidPen) (collectively, the “Awardees”) received a Conditional Award Commitment from the California Department of Housing and Community Development (HCD) for $15,000,000 in Multifamily Housing Program (MHP) gap funding through Round 4 of HCD’s Multifamily Finance Super NOFA (MFSN), Contract No. 26-MFSN-19038. Despite this project previously receiving a $44,550,361 conditional award of Affordable Housing and Sustainable Communities (AHSC) Program funds, which are administered by the Strategic Growth Council (SGC) and implemented by the HCD, in December 2025, the project still requires additional gap financing. This MHP award will help close the remaining funding gap for the construction of Stardust Gardens, the 80-unit first phase of the 332-unit Rebuilding Existing Supportive Housing at Alameda Point (RESHAP) project.
To accept the MHP award and remain eligible for disbursement, HCD requires the Awardee to timely satisfy several Terms and Conditions of the Conditional Award, including adopting an authorizing resolution within sixty (60) calendar days of the date of the Conditional Award Commitment, or by October 10, 2026. The included resolution, if adopted, would satisfy this requirement.
Consistent with...
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