HomeMy WebLinkAboutItem No. 07 - Reimbursement of Low and Moderate Income Housing Asset Fund for Spring Street Pr7)Reimbursement of Low and Moderate Income Housing Asset Fund for Spring Street
Properties to Be Utilized as Parking for New Library Project
1.Find that the twelve City parcels located on Spring Street between Sumner and Heald
adjacent to the flood control channel (APN 374-162-039, -041, -043, -045, -047, -049, -
051, -053, -055, -057, -059, and -061) are not suitable for affordable housing purposes
and can best serve and promote the health, safety, and welfare of City residents by
providing necessary parking for the new downtown Library project; and
2.Authorize and direct the City Manager to reimburse the Low and Moderate Income
Housing Asset Fund in the amount of $350,000.
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REPORT TO CITY COUNCIL
To:Honorable Mayor and Members of the City Council
From:Jason Simpson, City Manager
Prepared by:Shannon Buckley, Assistant City Manager
Date:March 12, 2024
Subject: Reimbursement of Low and Moderate Income Housing Asset Fund for
Spring Street Properties to Be Utilized as Parking for New Library Project
Recommendation
1. Find that the twelve City parcels located on Spring Street between Sumner and Heald
adjacent to the flood control channel (APN 374-162-039, -041, -043, -045, -047, -049, -051, -
053, -055, -057, -059, and -061) are not suitable for affordable housing purposes and can best
serve and promote the health, safety, and welfare of City residents by providing necessary
parking for the new downtown Library project; and
2. Authorize and direct the City Manager to reimburse the Low and Moderate Income Housing
Asset Fund in the amount of $350,000.
Background
The City recently received a $10 million grant for the construction of a new 10,000 square foot
Library. As depicted on the attached Vicinity Map, the new Library facility will be located on North
Main Street at the corner of West Sumner Avenue and extending to N. Spring Street.
On February 13, 2024, the City Council approved a Professional Services Agreement for
conceptual design services for the new Library facility. In addition to the main Library area, the
new Library facility will include one community meeting room, two study rooms, a children's area,
a teen area, and a public work room with individual workstations.
The downtown location of this exciting Library project will replace the existing Altha Merrifield
Memorial Library which, despite crucial structural and maintenance issues that discourage
residents from fully utilizing its resources, attracts an average of over 5,800 monthly visitors and
organizes 87 educational and social programs annually. The new Library facility will be a vital
public resource in the Downtown area and is expected to draw many more Lake Elsinore residents
and visitors.
Library Project Parking
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City staff is proposing to utilize City property on Spring Street for Library parking. Without the
Spring Street parcels to support the parking needs for the new facility, the Library building would
have to be two-stories in order to accommodate adequate parking on-site. This would significantly
increase costs. With the proposed Spring Street parking site, the Library can be designed as one-
story with greater lot coverage and with cost efficiency.
Discussion
The City’s Spring Street Property consists of twelve contiguous shallow parcels comprising a total
of 1.9 acres adjacent to the Flood Control Channel. The City Property was acquired by the City
from the Successor Agency in May 2017 following approval by the Successor Agency, the
Oversight Board and the State Department of Finance. The City, in capacity as housing successor
to the former Redevelopment Agency’s affordable housing assets and obligations, acquired the
City Property for $350,000. The City Property is located in the Downtown Elsinore Specific Plan
and is designated as Mixed Use.
Due to the configuration of the City Property and associated development constraints, staff has
determined that is it not a viable affordable housing project site. There are no current affordable
housing project proposals for the City Property and alternative sites are available in the downtown
area and citywide for affordable housing purposes. These include the proposed downtown
affordable housing projects at Riley/Heald and at Spring/Pottery/Flint. Although the City Property
was acquired for affordable housing purposes, the proposed Library facility parking use is a
preferred and more appropriate use of the City Property that will stimulate activity in the downtown
area, provide valuable public services with a greater public benefit to the existing and future
downtown residents and to residents and visitors citywide.
Fiscal Impact
Changing the proposed use of the City property from an affordable housing project site to an
alternative municipal use requires that the City reimburse the Low and Moderate Income Housing
Asset Fund (LMIHAF) the $350,000 purchase price. The funds deposited into the LMIHAF will
be used solely for affordable housing purposes consistent with applicable law, including Health &
Safety Code 34176.1.
Attachments
Attachment 1- Library Parking Lot Site Map
Sumner Avenue Main StreetLibrary Site
Cultural CenterAdditional Parking for Library