Title
Consider recommendations regarding the Sanctuary Centers’ Hollister II Affordable Housing Development, 115 West Anapamu Street, City of Santa Barbara (Project), Approval of Loan Documents, Security Instruments, First District, as follows:
a) Approve a Permanent Local Housing Allocation (PLHA) loan by the County to Sanctuary Centers of Santa Barbara, Inc. (Sanctuary Centers) in the principal amount of $1,400,000.00 (County PLHA Loan) for the purpose of developing the Project;
b) Approve a PLHA Promissory Note, PLHA Loan Agreement, PLHA Deed of Trust, and PLHA Regulatory Agreement and Declaration of Restrictive Covenants; collectively, the “County PLHA Loan Documents”;
c) Authorize the Chair of the Board to execute the PLHA Loan Agreement and PLHA Regulatory Agreement and Declaration of Restrictive Covenants; and
d) Find that the Project is exempt from California Environmental Quality Act (CEQA) requirements pursuant to CEQA Section 15332, and pursuant to the City of Santa Barbara December 4, 2020 Notice of Exemption filing.