Title
Authorization to Amend Intergovernmental Agreement with Maricopa County and Authorization to Enter into Funding Agreement with the Phoenix Community Development and Investment Corporation for the Senior Bridge Affordable Housing Project (Ordinance S-52177) - District 8 & Citywide
Description
Request to authorize the City Manager, or the City Manager's designee, to amend an intergovernmental agreement (IGA) with Maricopa County (Contract 162319) to modify Senior Bridge affordable housing project eligibility criteria and unit make-up. Further, request to authorize the City Manager, or the City Manager's designee, to accept funding in an amount up to $3,015,746 from the Phoenix Community Development and Investment Corporation (PCDIC) and enter into related funding agreement to support the Senior Bridge affordable housing project. Additionally, request to modify prior Council authorization for Senior Bridge Project to reflect changes in the Senior Bridge affordable housing project scope, funding sources, and developer. Further request to authorize the City Manager, or the City Manager's designee, to take all actions necessary or appropriate to implement and administer the Senior Bridge Project.
Finally, request authorization for the City Treasurer to accept and the City Controller to disburse all funds related to these items.
Report
Summary
City Council authorized the use of $3,015,746 in HOME Investment Partnerships American Rescue Plan funding (“HOME funding”) towards the Senior Bridge Project on December 4, 2024 via Ordinance S-51498.
As originally authorized via Ordinance S-51553, the City of Phoenix entered into a related IGA with Maricopa County on or about December 18, 2024. Whereby, the County awarded American Rescue Plan Act (ARPA) funds to the City to provide shelter and transitional housing for individuals experiencing homelessness in the City as well as up to $6 million in ARPA funding to be awarded to Steel & Spark, LLC to support the Senior Bridge Project.
On March 26, 2025, via Ordinance S-51736, the City Council authorized modification of the Maricopa County IGA to reflect changes in Senior Bridge Project scope and associated modifications to the Senior Bridge Project development agreement, including changing the developer to a Steel & Spark, LLC affiliate, Senior Bridge, LLC.
Following the March 26, 2025 Council action, the City determined not to use HOME funding for the Senior Bridge Project and PCDIC was identified as an alternative funding source. In addition, further revisions were identified to Senior Bridge Project unit make-up, eligibility criteria, potential corporate form of the developer, as well as the term of related security instruments in the course of negotiations.
Thus, the current request would allow modifications to the IGA and related Senior Bridge Project development agreement authority. Specifically:
- The current desired project would allow up to 54 affordable housing units to be developed within ARPA's State and Local Fiscal Recovery Fund guidelines for affordable housing.
- HOME Funding will be replaced with funding provided by PCDIC in an amount not to exceed $3,015,746.
- The developer of the Senior Bridge Project and party to the development agreement and related instruments may be replaced with an affiliate of Senior Bridge, LLC as necessary or desirable to facilitate the project.
- The term of security instruments related to the development agreement will be 20 years.
Contract Term
The term of the IGA will remain unchanged.
The term of the funding agreement with PCDIC will be for a period of three years, beginning on or about July 3, 2025.
The term of the affordable housing development agreement with Senior Bridge, LLC or affiliate will begin or on about July 3, 2025 for a term of up to one year, with an option to extend through December 31, 2026 at the discretion of the City Manager or designee; provided associated security instruments shall have a term of at least 20 years from project occupancy.
Financial Impact
The amount of funding provided via the IGA with Maricopa County to the Senior Bridge Project remains unchanged at up to $6 million. Funding in an amount of $3,015,746 will be provided by PCDIC. There is no impact to the General Fund, as funding is provided by Maricopa County and PCDIC.
Concurrence/Previous Council Action
The Council previously reviewed and approved the following:
- On December 4, 2024, the City Council authorized up to $3,015,746 in HOME Funding for the Senior Bridge project with Ordinance S-51498.
- On December 18, 2024, via Ordinance S-51553, the City Council approved the Intergovernmental Agreement (IGA) with Maricopa County and related projects, including the award of up to an additional $6 million in funding from the IGA for the Senior Bridge to Steel & Spark, LLC.
- On March 26, 2025, the City Council authorized changes to the Senior Bridge Project scope and substitution of Senior Bridge, LLC as developer with Ordinance S-51736.
- These prior actions are superseded to the extent inconsistent with this item.
Location
Senior Bridge, 2853 E. Van Buren Street
Council Districts: 8 and Citywide
Department
Responsible Department
This item is submitted by Deputy City Manager Gina Montes and the Office of Homeless Solutions.