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Housing authority authorizes sale of 25 Las Deltas scattered-site buildings at fair market value
Summary
The Contra Costa County Housing Authority unanimously approved Resolution 5271 May 20 to sell 25 scattered-site buildings on 18 parcels from the former Las Deltas public housing development at fair market value; staff said appraisals estimate roughly $7.5 million and HUD approval is required for local preferences and sale language.
The Contra Costa County Housing Authority voted unanimously May 20 to adopt Resolution 5271 authorizing the sale of 25 scattered-site buildings on 18 parcels from the former Las Deltas public housing development at fair-market value, as determined by certified appraisals.
Housing Authority staff said these scattered-site properties are the remaining public-housing units not already conveyed in earlier phases. Staff described the units as in poor condition and often unsuitable for conventional mortgage financing; the authority intends to prioritize offers from former Las Deltas residents, local residents and local workers before listing remaining properties on the open market.
Joseph, a Housing Authority staff presenter, said current appraised values suggest the sales could generate about $7.5 million to support other public-housing work across the county. He said HUD granted special permission to apply local preferences during disposition stages but that HUD had also asked staff to add language to the purchase-and-sale agreement to clarify that sales are to unrelated third parties and that the housing authority will not provide seller take-back financing. Joseph said HUD’s requested edits arrived late and could require returning to the board with amended documents.
John, a county supervisor and board member, told the board the scattered sites comprise a large share of the properties formerly in the Las Deltas portfolio and moved the resolution. Board members voted in favor without recorded opposition.
Staff said the authority prefers to market the scattered sites first to former residents and local buyers, then to local residents and workers, and last to the general market. Joseph cited one example of a former resident’s small company that plans to purchase a unit and keep it as a rental. The authority asked for blanket approval to proceed with sales to avoid delays while awaiting HUD’s formal written response; staff said HUD may still require the board to approve amendments to the sale documents.
Next steps: Staff will proceed with appraisals and targeted local marketing; if HUD requires changes to the purchase-and-sale agreement or to the blanket-approval approach, staff will return to the board with amendments.
