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Consider recommendations regarding HOME Loan Commitment Agreements, Second and Fifth Districts, as follows:
a) Find that the development of a four-bedroom supportive housing project by the Surf Development Company is exempt from CEQA pursuant to CEQA Guideline 15332;
b) Find that the making of a permanent financing loan for the existing Sumida Gardens Project is exempt from CEQA pursuant to CEQA Guideline 15301;
c) Find that it is adequate and adopt the Mitigated Negative Declaration that was prepared by the City of Santa Maria for the Rancho Hermosa housing development consisting of 47 new affordable apartment units; and
d) Approve and authorize the Chair to execute three Loan Commitment Agreements which will evidence the commitment of County HOME Consortium entitlement funding to the following entities:
i) The Surf Development Company in the amount of $150,000 for the development of the Braddock House, a four-bedroom supportive housing project, Second District;
ii) Santa Barbara Housing Assistance Corporation in the amount of $477,071 for the Rancho Hermosa development that will provide 47 new affordable apartment units, Fifth District; and
iii) Sumida Family Limited Partnership in the amount of $630,000 for permanent financing of Sumida Gardens, a 200-unit rental complex, Second District.
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