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Consider the recommendations regarding the Ellwood Apartments Project, Third District, as follows:
a) Find that on June 17, 2002, the Ellwood Apartments Project was determined by the City of Goleta to be CEQA exempt per Section 15332 and 15061(b)(3) for the project;
b) Approve the commitment of $200,000 of City of Goleta HOME funds for permanent financing costs for the Ellwood Apartments, located at 360 Ellwood Beach Drive, Goleta, CA ; and
c) Authorize the Director of Housing and Community Development to execute the Loan Agreement in the total amount of $200,000 and a Regulatory Agreement, and any required subordinations, all in substantially the form of the attachments to this Board letter, for the development of this project.
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