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Consider recommendations regarding Ellwood Apartments Community Development Block Grant Loan Documents, Third District, as follows:
a) Find that the acquisition of the Ellwood Apartments Project site is exempt from the California Environmental Quality Act (CEQA);
b) Approve the commitment of $277,500 of State CDBG funds for the acquisition of property and other soft costs, located at 360 Ellwood Beach Drive, Goleta, CA for the construction of the Ellwood Apartments;
c) Authorize the Director of Housing and Community Development to execute a Loan Agreement and Regulatory Agreements, with Peoples' Self-Help Housing Corporation for the acquisition of this project.
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