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RESOLUTION 2015 -005 <br />RESOLUTION OF THE TOWN COUNCIL <br />OF THE TOWN OF LOS GATOS <br />AUTHORIZING THE TOWN MANAGER TO EXECUTE AGREEMENTS <br />FACILITATING THE TRANSFER OF 185 ANNE WAY (APN 527 -48 -020) AND 14390 <br />BLOSSOM HILL ROAD (APN 527 -31 -013) SENIOR GROUP HOMES FROM SENIOR <br />HOUSING SOLUTIONS (FORMERLY PROJECT MATCH) TO CHARITIES HOUSING <br />DEVELOPMENT CORPORATION (LOS GATOS SENIOR HOMES LLC) <br />AND NEW REHABILITATION LOAN AGREEMENTS ADDRESSING NECESSARY <br />REPAIRS AND IMPROVEMENTS TO PRESERVE THE LONG -TERM <br />AFFORDABILITY AND MAINTENANCE OF THE HOMES IN THE TOWN'S <br />AFFORDABLE HOUSING STOCK. <br />WHEREAS, the Town of Los Gatos has a State certified Housing Element; and <br />WHEREAS, the Housing Element has programs for the production and preservation of <br />housing opportunities for lower income residents; and <br />WHEREAS, the Town of Los Gatos has adopted a Below Market Price (BMP) Housing <br />Ordinance and BMP Housing Program Guidelines which require developers to provide BMP <br />Housing In -lieu Fees to assist with the Town's affordable housing efforts; and <br />WHEREAS, the BMP Housing Program Guidelines allow BMP Housing In -lieu Fees to <br />be used to supplement projects funded by the former Los Gatos Redevelopment Agency; and <br />WHEREAS, the Town of Los Gatos Redevelopment Agency previously provided <br />financial assistance to Senior Housing Solutions (Project Match) to facilitate the acquisition of two <br />single family dwellings located at 185 Anne Way and 14390 Blossom Hill Road for use as shared <br />group homes for lower income seniors; and <br />WHEREAS, Senior Housing Solutions desires to cease operations as a non -profit public <br />benefit corporation and transfer the two properties and the associated obligations to Chanties <br />Housing Development Corporation (Los Gatos Senior Homes LLC) ; and <br />