$20M AHSC funding recommended to be approved and $4M IIG approved for downtown project

 In Blog, Community Vitality, Uncategorized

Per press release 6/19/18 by the City of Redding:

On Monday, June 18, the California Strategic Growth Council released the staff recommendation for the Affordable Housing and Sustainable Communities (AHSC) grant program. Redding’s Block 7 Net Zero Housing and Downtown Activation Project (Redding project) is recommended for AHSC funding in the amount of $19,959,536. 

The proposal for a mixed used development in downtown, offering housing and transportation amenities, such as completing the river trail connection from Turtle Bay Exploration Park to downtown, was a joint submission by K2 Land and Investment, LLC (K2), The McConnell Foundation (McConnell), the City of Redding, and Community Development and Revitalization Corporation (CDRC).

The AHSC competitive grant program through the state of California’s Strategic Growth Council (SGC) cited three types of projects that were recommended for funding. The Redding project was the highest point-scoring project of its type in the state. This Integrated Connectivity Project (ICP) type had the highest number of competitive proposals (28) and Redding scored 88 out of 100 total points. In addition, Redding’s project proposal was recommended for the third largest dollar amount in the state, and only one other recommended project is located north of the Bay Area (Truckee).

K2, The McConnell Foundation, The City of Redding and CDRC are proud that this application represented The North State well. The Strategic Growth Council received 53 applications requesting a total of $680M. Only 19 projects out of 53 applications will be recommended for a total of $257,497,000. [Full list of recommended projects here].

An announcement was just released today regarding an application for an Infill Infrastructure Grant (IIG) from the Department of Housing and Community Development to build additional parking; K2, The City of Redding and The McConnell Foundation were awarded a $4 million grant to be used for the downtown Redding project.

The Redding project final point score for the IIG was 250 out of 250, after taking into consideration the funding commitment for AHSC grant funding noted above. The City of Redding’s downtown parking study is underway to address near, medium & long-term parking needs in downtown.

The news of these two grants builds on the momentum for the revitalization already underway with the joint effort between K2 and the City of Redding. The two entities were successfully awarded a $20M AHSC grant for the Redding Downtown Loop and Affordable Housing Project last year, and just last week, the state of California approved funding of $155M for a new courthouse in downtown.

The McConnell Foundation and K2 want to thank local and regional partners without whom this effort would not have been possible: the regional planning organization, Shasta Regional Transportation Agency as well as co-applicants, City of Redding and CRDC (Community Development and Revitalization Corporation).

For more on The McConnell Foundation’s Community Vitality Program efforts to revitalize downtown, head to our Community Vitality blog (click here).

This transformational effort wouldn’t have been possible without the voices of many community members who see the *potential* in downtown Redding & want to make a better future together. Thank you! #CommunityVitality #downtown #makethefuture

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