HomeMy WebLinkAboutReso 2026-041RESOLUTION NO. 2026-041
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA AMENDING RESOLUTION NO. 2024-119 TO
EXTEND THE DEADLINE FOR CONSTRUCTION START ON
AN AFFORDABLE HOUSING PROJECT TO BE LOCATED AT
610 PASEO DEL REY
WHEREAS, the City of Chula Vista previously appropriated funds for the production of
Permanent Supportive Housing (“PSH”), including $2,668,810.45 in HOME America Rescue Plan
(“HOME-ARP”) funds and more than $631,189.55 in HOME Investment Partnership Program
(“HOME”) funds pursuant to Resolution No. 2023-166, adopted on October 17, 2023, and
Resolution No. 2024-085, adopted on May 21, 2024; and
WHEREAS, on June 11, 2024, the City Council adopted Resolution No. 2024-119
committing a loan of up to $3,300,000 in HOME and HOME-ARP funds to a 96-unit affordable
housing project, including 48 PSH units, to be located at 610 Paseo Del Rey (the “Project”), to be
developed by Wakeland Housing and Development Corporation (“Wakeland”); and
WHEREAS, on September 10, 2024, City Council adopted Resolution No. 2024-180
amending Resolution No. 2024-119 to restructure the HOME loan commitment to the Project to
make up to $500,000 of the loan available for pre-development costs, in order for the City to meet
deadlines for disbursement of HOME funds set forth by the U.S. Department of Housing and
Urban Development (“HUD”); and
WHEREAS, to begin construction, the Project must obtain major additional financing from
public sources, including an allocation of Low Income Housing Tax Credits (“Tax Credits”) from
the California Tax Credit Allocation Committee (“CTCAC”); and
WHEREAS, Resolution 2024-119 states that the City’s funding commitment shall expire
on June 11, 2026, if the Project has not secured all necessary commitments of financing and
undertaken the necessary steps to commence construction; and
WHEREAS, Wakeland has taken significant steps to complete its financing and prepare
for construction, including obtaining environmental approvals pursuant to the National
Environmental Policy Act (“NEPA”), and submitting a building permit application, currently
under review by the City, but was not successful in its 2025 application for Tax Credits and is
therefore not prepared to meet the June 11, 2026, construction start deadline specified by
Resolution 2024-119; and
WHEREAS, Wakeland is preparing to reapply for an allocation of Tax Credits this spring
and anticipates being able to commence construction within the next year; and
WHEREAS, the City still supports construction of the Project, which will include PSH for
48 households exiting homelessness, including 25 homes set aside for homeless veterans.
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Resolution No. 2026-041
Page No. 2
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista,
that Section 3 of Resolution No. 2024-119 is hereby deleted in its entirety and replaced with the
following:
3. Excepting the pre-development loan portion authorized by Resolution 2024-180, the
City shall not disburse loan funds until Wakeland has secured all other necessary
financing for the construction of the Project. The City’s funding commitment shall
expire on March 17, 2028, if the Project has not secured all necessary commitments of
financing and undertaken the necessary steps to commence construction.
BE IT FURTHER RESOLVED by the City Council of the City of Chula Vista, that all
other provisions of Resolution No 2024-119, as amended by Resolution 2024-180, shall remain in
full force and effect.
[SIGNATURES ON THE FOLLOWING PAGE]
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Resolution No. 2026-041
Page No. 3
Presented by Approved as to form by
Stacey Kurz Marco A. Verdugo
Director of Housing and Homeless Services City Attorney
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 17th day of March 2026, by the following vote:
AYES: Councilmembers: Chavez, Fernandez, Inzunza, and McCann
NAYS: Councilmembers: None
ABSENT: Councilmembers: Preciado
John McCann, Mayor
ATTEST:
Kerry K. Bigelow, MMC, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Kerry K. Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2026-041 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 17th day of March 2026.
Executed this 17th day of March 2026.
Kerry K. Bigelow, MMC, City Clerk
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