rich 1.0 Action Network https://actionnetwork.org <link href='https://actionnetwork.org/css/style-embed-v3.css' rel='stylesheet' type='text/css' /><script src='https://actionnetwork.org/widgets/v6/event/save-80-affordable-homes-at-alameda-point?format=js&source=widget'></script><div id='can-event-area-save-80-affordable-homes-at-alameda-point' style='width: 100%'><!-- this div is the target for our HTML insertion --></div> East Bay YIMBY https://actionnetwork.org/groups/yimbyeastbay https://can2-prod.s3.amazonaws.com/events/photos/003/482/961/normal/Stardust-Gardens-pedestrian-activity-rendering-by-David-Baker-Architects.jpg We need housing supporters to turn out on Zoom tonight for Alameda City Council Item 7-A. (In-person and telephone info here.) A last-minute funding problem is threatening Stardust Gardens, the first 80 deeply affordable homes in the redevelopment of the supportive housing at Alameda Point. But this is much bigger than 80 homes. The affordable and market-rate development at Alameda Point are deliberately tied together. Residents need to move into the new Stardust/RESHAP housing before later phases can proceed. That means this funding problem could hold up: • 80 deeply affordable homes at Stardust Gardens • 478 already-approved homes at West Midway, including roughly 395 market-rate/workforce-market-rate homes • A broader Alameda Point pipeline that City staff says could ultimately affect as many as 2,300 homes, including roughly 580 affordable homes The City structured these projects so that market-rate development and deeply affordable housing move forward together. That’s generally good housing policy: the affordable housing actually gets built instead of being promised for some later phase that never arrives. But now a dispute over long-term operating subsidies for Stardust Gardens threatens to jam up that entire sequence. Council has a solution before it tonight: provide a City funding backstop so Stardust can meet its immediate financing deadlines while the City, Alameda Housing Authority, MidPen, and HUD work out a permanent subsidy solution. There are legitimate questions about how this was allowed to become a last-minute crisis, and those absolutely need to be answered. But we should not resolve an interagency financing and governance failure by sacrificing hundreds of entitled homes and potentially delaying thousands more. Please join tonight’s City Council meeting on Zoom and speak on Item 7-A. We’re asking Council to: • Approve the funding backstop and protect Stardust’s financing deadline. • Keep the 478 West Midway homes and broader Alameda Point housing pipeline moving. • Make the City contribution a backstop that is reduced as other operating subsidies become available. • Direct the City, AHA, MidPen, and HUD to immediately work out a permanent voucher/subsidy solution. • Come back afterward and fix the process so another affordable housing project doesn’t reach a critical financing deadline with its operating subsidy unresolved. This is one of those extremely wonky housing votes where showing up actually matters. We have housing ready to move. Let’s not let a solvable financing dispute stop it. https://actionnetwork.org/events/save-80-affordable-homes-at-alameda-point