Title
Consider recommendations regarding a Funding Reservation for the Buellton Senior Village Apartments affordable housing project (Project) in Buellton, Third District, as follows:
a) Approve a reservation of County funds for the Buellton Village Senior Apartments Project that will (a) be in an amount not to exceed $895,941.00; (b) consist of HOME and/or In-Lieu funds; and (c) be released if Cabrillo Economic Development Corporation does not receive notification of an award of low-income housing tax credits (LIHTC) and/or State Multifamily Housing Program (MHP) funds to complete the financing for the Project by September 14, 2022;
b) Authorize the Director of the Community Services Department (CSD) to sign a letter to the Buellton Village Senior 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), finding that the actions are not a project as they are the creation of government funding mechanisms or other government fiscal activities which do not involve any commitment to any specific project which may result in a potentially significant impact on the environment.