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
[Enter body here.]