File #: 07-01029    Version: 1
Type: Agenda Item Status: Passed
File created: 10/15/2007 In control: BOARD OF SUPERVISORS
On agenda: 10/23/2007 Final action: 10/23/2007
Title: Consider recommendations regarding the Housing Authority of Santa Barbara County Purchase of Vintage Walk Affordable Housing Units, City of Buellton, Third District, as follows: (4/5 vote required) a) Approve and authorize the Chair to execute a Loan Agreement in the amount of $180,000, utilizing Santa Ynez Valley Housing Market Area Local Affordable Housing Funds, and a Regulatory Agreement, with the Housing Authority of Santa Barbara County enabling the Authority to acquire six (6), very low-income one-bedroom apartment units in the Vintage Walk mixed-use development, located at 575 and 595 Avenue of Flags, City of Buellton; and b) Approve the Budget Revision and to reallocate $198,000 of existing HCD local funds, $180,000 of which is allocated for direct project costs, and $18,000 of which is allocated for project administrative costs.
Sponsors: HOUSING AND COMMUNITY DEVELOPMENT
Attachments: 1. Board Letter, 2. Attachment A, 3. Attachment B, 4. Budget Revision Request
Title
Consider recommendations regarding the Housing Authority of Santa Barbara County Purchase of Vintage Walk Affordable Housing Units, City of Buellton, Third District, as follows: (4/5 vote required)
 
a) Approve and authorize the Chair to execute a Loan Agreement in the amount of $180,000, utilizing Santa Ynez Valley Housing Market Area Local Affordable Housing Funds, and a Regulatory Agreement, with the Housing Authority of Santa Barbara County enabling the Authority to acquire six (6), very low-income one-bedroom apartment units in the Vintage Walk mixed-use development, located at 575 and 595 Avenue of Flags, City of Buellton; and
 
b) Approve the Budget Revision and to reallocate $198,000 of existing HCD local funds, $180,000 of which is allocated for direct project costs, and $18,000 of which is allocated for project administrative costs.  
Body
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