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Riverbank OKs $250,000 in SB 2 PLHA funds for 8-unit Riverbank Village supportive housing
Summary
Council approved a $250,000 memorandum of agreement using PLHA (SB 2) funds to help Stanslaus Equity Partners complete the first phase of Riverbank Village, an eight-unit permanent supportive-housing project; city will require annual reporting and 48-hour inspection notice rights.
Riverbank — The City Council approved by unanimous vote a memorandum of agreement to allocate $250,000 in Permanent Local Housing Allocation (PLHA) funds to Stanislaus Equity Partners for the Riverbank Village permanent-supportive housing project.
Staff said the developer has assembled funding from CalAIM and private sources but faces a $250,000 shortfall tied to additional on-site work. The requested PLHA funds would apply to the first phase: eight permanent-supportive units at Morrell and Oakdale Road adjacent to Bridge Covenant Church. Project partners include R3 (builder), the Center for Human Services (wraparound services and case management) and San Joaquin County Affordable Housing Corporation (property manager).
Per the staff presentation, the city vetted the project against PLHA rules and will require annual reports on occupancy and performance; the city also retained inspection rights with 48 hours' notice. The memorandum includes indemnification language in favor of the city.
Council moved and approved the funding allocation 5-0. Staff said the PLHA funding represents refunded allocations from a prior project and that the Riverbank Village developer is experienced with PLHA requirements.
