Should the City apply for $4.7 million from the Department of Housing and Urban Development (HUD) to demolish buildings on North Mare Island, using the Community Development Block Grant (CDBG) Section 108 Guaranteed Loan Program?
The City of Vallejo has plans for the re-use and development of the northern section of the former Mare Island Naval Shipyard. There are currently several buildings on North Mare Island that need to be demolished to remove a public safety hazard and in order to proceed with new development. In July, the City Council will consider submitting a Section 108 Guaranteed Loan Application to HUD to accomplish this objective. Section 108 allows cities to borrow money for various land-readiness purposes using future CDBG Program funding allocations as guarantees on the loan. Staff’s recommendation will include a proposal to repay the Section 108 loan with Measure B funds.
On Monday, July 14 at 7:00 p. m., the Housing and Redevelopment Commission (HRC) will hold a public hearing during a special meeting in Council Chambers on the City’s Section 108 Loan Application. This item is scheduled for final consideration by the Vallejo City Council at its regular meeting on July 22 at 7:00 p. m. in Council Chambers. Please review the application here or below. The HRC staff report will be available online here beginning Friday, July 11.
For additional information, please contact Guy Ricca, Senior Community Development Analyst with the City’s Housing and Community Development Division by e-mail or phone (707) 648-4395.
Outcome: Under review.
July 22, 2014Read More
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