Attach 4 - SAHA Proposal

RESPONSETONOTICE OF FUNDING AVAILABILITY (NOFA) Sycamore Crossing Affordable Multifamily Rental Housing City of Hercules January 14, 2026 Contents 1. COVER LETTER 3 2. PROJECT DESCRIPTION 7 3. FINANCING PLAN AND PROFORMA 17 4. PROJECT SCHEDULE 23 5. SAHA 24 6. ADDITIONAL PROJECT TEAM MEMBERS 50 7. RESIDENT SERVICES PLAN 58 8. COMMUNITY OUTREACH 60 9. PRELIMINARY TITLE REPORT 61 10. EVIDENCE OF SITE CONTROL 75 11. FINANCIAL STATEMENTS 76 City of Hercules Notice of Funding Availability /Sycamore Crossing Affordable 2 1/Cover Letter January 14, 2026 Tim Rood Community Development Director City of Hercules Delivered via email: [email protected] Subject: Sycamore Crossing Affordable Housing Development NOFA Response Dear Tim: On behalf of Satellite Affordable Housing Associates (SAHA), I am pleased to present this application for funding assistance to develop a portion of the Sycamore Crossing site at Sycamore Avenue and San Pablo Avenue in partnership with the City. This NOFA presents an exciting opportunity to build 100 permanently affordable homes and make an important contribution toward the City’s affordable housing needs. We would be honored to be selected to partner with the City to create a welcoming community that brings diverse housing opportunities to the people of Hercules. SAHA is a nonprofit housing development corporation with over 50 years of experience in the field of developing and managing affordable housing. SAHA specializes in creating residential and mixed-use developments throughout the Bay Area for low and very low-income families, seniors, and people with special needs including those experiencing homelessness. SAHA begins from the idea that every person deserves a home. Our work is inspired by a belief that quality homes and empowering services should be in reach for all members of our community and that despite the many obstacles to providing housing for people with modest incomes and special needs, this goal is possible. We currently house over 4,000 residents. With a commitment to high-quality design and thoughtful, ongoing supportive services, we empower our residents to build better lives and create healthier, safer neighborhoods. With 75 affordable communities completed in the Bay Area and a pipeline of new projects in development, SAHA is one of the most impactful community-based nonprofit housing organizations in the region. City of Hercules Notice of Funding Availability /Sycamore Crossing Affordable 3 1/Cover Letter EXPERIENCED TEAM For the development of the Sycamore Crossing Affordable project, SAHA has assembled an experienced and resourceful team. Satellite Affordable Housing Associates (SAHA) will be the Developer and Owner (through a Limited Partnership structure) and will also provide Property Management and Resident Services coordination. Together with PYATOK architecture + urban design, we are confident we will deliver a highly livable new community where residents thrive. Pyatok, a firm with which SAHA has previously partnered on several projects including Alta Madrone, Flicker Bird Homes and Ancora Place, has proven expertise designing affordable housing that matches the character of the existing neighborhood. SAHA Property Management employs a staff of over 115 professionals. Our property managers, assistant property managers, maintenance technicians, and custodians are supported and trained by property supervisors and the Director and Associate Director of Property Management. SAHA PM also include a Compliance Department overseeing the regulatory requirements for our properties. Our Facilities Department oversees capital improvement projects and facilities maintenance technicians. Our team of more than 30 non-clinical resident service coordinators works at nearly every SAHA site, with the aim of fostering physical, emotional and cognitive health, authentic social connections, and a feeling that we live and work not just in a beautiful apartment building, but in a community where we are each known and valued. For residents with more acute needs, we provide services that allow residents to remain comfortably within their apartments despite changing abilities, and to live as independently as possible. City of Hercules Notice of Funding Availability /Sycamore Crossing Affordable 4 1/Cover Letter Resident Services begin with case management and meeting basic needs through meal programs, public benefits access, health screening and access to care, and transportation services. From there we address a wide variety of individual needs including help with immigration and naturalization, medical-related planning and services including home health care and advance directives, legal assistance and mediation, and financial education. Activities may include a wide variety of on-site classes and groups including exercise classes, bicycle skills and repairs, quilting and embroidery, drum circles, choirs, dancing, walk groups, book clubs, meditation, intercultural potlucks, men’s groups and ESL classes. Tenants Associations provide a vehicle for socializing as well as advocacy and communication between management and residents. SAHA Transportation provides wheelchair-accessible van service between many of SAHA’s residential communities and destinations in the community. Residents sign up for and receive transportation to shopping, medical appointments and recreational trips. Among low-income seniors, transportation provides critical access to medical providers and lifeline services, food access, and socialization activities. Transportation thus provides an enormous benefit to the quality of resident life at the buildings it serves, increases independence, and addresses conditions of isolation which create mental and physical health risks for seniors. VISION FOR THE DEVELOPMENT SAHA will transform this vacant 1.9 acre parcel, a portion of the larger Sycamore Crossing site, into a vibrant community of 100 deeply affordable homes targeted to individuals and families including 12 studio apartments, 38 one-bedroom apartments, 25 two-bedroom apartments and 25 three-bedroom apartments. SAHA proposes to develop a five-story building using affordable Type III-A wood-frame construction including surface parking for all units. The design includes numerous family-friendly common area amenities such as an acoustically-insulated music practice room, a bicycle repair station, an outdoor tot play area and wheelchair-accessible raised garden beds in a sunny spot where SAHA’s Resident Services team will expand its successful gardening program. To fund this transformation, SAHA requests $5M of seed capital from the City of Hercules which will cover approximately 6% of the total development cost. SAHA proposes to leverage this City funding with tried and true funding sources: 4% Federal and State tax credits, California Strategic Growth Council & Department of Housing and Community Development’s Affordable Housing and Sustainable Communities (AHSC) Program, Federal Home Loan Bank of San Francisco’s Affordable Housing Program, deferred developer fee, and a conventional, fixed-rate fully amortizing mortgage. City of Hercules Notice of Funding Availability /Sycamore Crossing Affordable 5