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County considers $50,000 earnest deposit to secure land for supportive housing project
Summary
Staff proposed using a HUD Section 108 loan (CDBG-backed) to fund a refundable $50,000 earnest deposit on 5.2 acres from Tanner Clinic for a permanent supportive transitional housing project; the County would act as land acquirer and issue an RFP for a third-party developer.
Ryan Steinbeigle, Community Services Manager, said staff is seeking authorization for a $50,000 earnest deposit to reserve 5.2 acres from Tanner Clinic for a permanent supportive transitional housing project. Steinbeigle explained the County could use a HUD Section 108 loan backed by Community Development Block Grant (CDBG) allocations so the General Fund bears no risk; he added Tanner Clinic will extend closing to mid-November while loan approval is sought.
Kent Andersen clarified the County's role would be land acquisition only and that the County intends to issue a request for proposals to identify a third-party developer to build and operate the supportive housing. Staff characterized the proposal as low-risk and noted several reputable developers had already expressed interest. Parke said the $50,000 deposit would be refunded if the loan is approved.
