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Santa Clara County Civic Gallery Board of Supervisors agenda intelligence

Matter SCC-130075

Consider recommendations relating to real property located at 231 Grant Avenue, Palo Alto. (LA)

Housing Board of Supervisors
4 Documents on file 969 KB · 4 extracted · 1 AI summary
File
SCC-130075
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Unknown
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Last synced
10 Sep 2026 · 05:45

The papers

4 documents · 969 KB
01 208 KB

Agreement/Amendment Printout

208 KB Extracted AI Summary
file Unknown sha 249fa6bb8e30 source Open source document ↗
Generated summary AI-assisted

The source text indicates this attachment appears to be a draft document.

The document outlines a recommendation to the Board of Supervisors regarding an increase in the loan amount for The Acacia affordable housing development located at 231 Grant Avenue, Palo Alto. It proposes an appropriation modification of $1,800,000 to increase the maximum loan amount from $37,000,000 to $38,800,000. The funding would come from the County's Stanford Affordable Housing Fund, with no impact on the County General Fund. The document details the current lease status of the development, which has 110 rental units designated for educators, and discusses the need to broaden tenant eligibility due to low occupancy rates. It also includes a history of contract approvals related to the project and outlines the expected terms of the amended loan. The recommendation aims to accelerate the production of affordable housing and improve leasing outcomes for the development.

Key points
  • Recommendation to increase loan amount for The Acacia from $37,000,000 to $38,800,000.
  • Funding sourced from the County's Stanford Affordable Housing Fund with no impact on the County General Fund.
  • Current occupancy of The Acacia is 73 out of 110 units, with efforts to broaden eligibility for tenants.
  • The document includes a history of previous approvals related to the project.
  • Expected loan terms include a simple interest rate of 3% and a 55-year repayment period.
Limitations
  • The document appears to be a draft, as indicated by the presence of placeholders and unresolved sections.
  • Specific dates and outcomes related to previous approvals are not fully detailed.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

Extracted text preview · 14,553 chars
County of Santa Clara Office of Supportive Housing 130075 DATE: September 15, 2026 TO: Board of Supervisors FROM: Kathryn (KJ) Kaminski, Director, Office of Supportive Housing SUBJECT: The Acacia - Increase in Loan Amount RECOMMENDED ACTION Consider recommendations relating to real property located at 231 Grant Avenue, Palo Alto. (LA) Possible action: a. Approve Request for Appropriation Modification No. 28 - $1,800,000 increasing estimated expenditure appropriations in the Office of Supportive Housing budget relating to a loan to Mercy Housing and Abode Communities, or an affiliate, to support The Acacia affordable housing development. (4/5 Vote) b. Approve amended delegation of authority to the County Executive, or designee, to negotiate, execute, amend, or terminate all legal documents, including but not limited to contracts, loan agreements, regulatory agreements, funding agreements, deeds of trust, promissory notes, subordination agreements, and assignment agreements relating to the development of 110 apartments at The Acacia located at 231 Grant Avenue, Palo Alto, including one or more loans with 231 Grant, LLC, or affiliate, increasing the maximum loan amount by up to...
02 23.8 KB

Attachment A - F-85 No. 28

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Extracted text preview · 419 chars
County Of Santa Clara Request For Appropriation Modification Fiscal Year = 2027 Fund Budget Unit Cost Center CI 1 0289 0168 9859 5255455 Line 0289 Description Job Code Funded Program F - 85 # 028 CMB Revenues Grant Contract PMTs 1,800,000.00 Transfer (From) To Fund Balance: (1,800,000.00) Grand Total: 0.00 Form ID# Included: 48466, 8/27/26 Prepared By: CMB Expenditures Page: 1 of 1 0.00
03 364 KB

Attachment B - Community Engagement Report

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Extracted text preview · 12,695 chars
Community Engagement Report Project Name: The Acacia Project Address: 231 Grant Ave Developer Name: Mercy Housing/Adobe Supervisorial District: 5 The Acacia is an affordable housing development on a 1.39-acre site and was developed by 231 Grant LLC, which is managed by Mercy Housing California and Abode Communities. The project is located at 231 Grant Ave in Palo Alto. The development consists of 110 total units, comprised of 24 studios, 61 one-bedrooms, 24 two-bedrooms (plus 1 manager’s unit). This project includes 110 units for households earning up to 140% Area Median Income (AMI). Unit Mix and Project Milestones (PSH/RRH/Other) Proposed Total Special Needs County Units Units Funding County Per Unit Contribution Amount Disbursed Balance Project Status 110 $ 352,727 $34,202,395 $2,797,605 In Operations 0 $38,800,000 Project Milestones Est. Completion Date Completion Date 1. Board of Supervisors Approval (Developer Selection & Funding) January 2022 January 12, 2022 2. City Council Approvals / Land Use Entitlements Approvals January 2022 January 12, 2022 3. Community Engagement (Continuous and Ongoing) Ongoing Ongoing 4. Site Control – DDA July 2023 July 5, 2023 5. County and...
04 373 KB

Attachment C - Off-Agenda Report: Educator Housing Development Lessons Learned

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Extracted text preview · 26,832 chars
Docusign Envelope ID: 557A2A57-E754-8C19-8032-961A6B553F82 County of Santa Clara Office of Supportive Housing 150 W. Tasman Drive, San Jose, CA 95134 (408) 278-6400 Main (669) 220-1444 Fax DATE: August 28, 2026 TO: Honorable Board of Supervisors James R. Williams, County Executive FROM: Kathryn (KJ) Kaminski, Director, Office of Supportive Housing SUBJECT: Educator Housing Development Lessons Learned At the Housing, Land Use, Environment, and Transportation Committee (HLUET) meeting on February 19, 2026 (Item No. 6), Supervisor Arenas requested an off-agenda report on lessons learned from the County’s development of educator housing, including income qualification levels and occupancy trends. The County has collaborated with local partners to develop educator rental housing to help provide lower- and moderate-income teachers and other school district staff with affordable housing in the communities they serve. The County’s first educator housing project, The Acacia, was developed on County-owned land located at 231 Grant Avenue in Palo Alto. This project was developed by Mercy Housing and Abode Communities and consists of 110 units. These co-developers conducted outreach to...