Title:
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Consider recommendations regarding a reservation of County funds for the Isla Vista Apartments affordable housing rehab project (Project) in Isla Vista, Third District, as follows:
a) Approve a reservation of County funds for the Isla Vista Apartments Rehab Project that will (a) be in an amount not to exceed $1,000,000.00; (b) consist of funds from the Low Moderate-Income Housing Asset Fund (LMIHAF); and (c) be released if People's Self-Help Housing Corporation does not receive notification of an award of low-income housing tax credits (LIHTC) for the Project by March 10, 2021;
b) Authorize the Director of Community Services Department (CSD) to sign a letter to the Isla Vista Apartments project applicant indicating the approved reservation; and
c) Determine that the approval of the reservation of funding is not the approval of a project that is subject to environmental review under the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines section 15378(b)(4), findi...
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