File #: 07-00405    Version: 1
Type: Agenda Item Status: Passed
File created: 4/20/2007 In control: BOARD OF SUPERVISORS
On agenda: 5/1/2007 Final action: 5/1/2007
Title: Consider recommendations regarding the subordination of Casa Esperanza Homeless Shelter Loan, Second District, as follows: a) Approve the subordination of the County's $500,000 interest in an existing $1,000,000 loan made in partnership with the City of Santa Barbara and its Redevelopment Agency for the homeless shelter located at 816 Cacique Street in Santa Barbara, to a refinanced loan from Business First National Bank; and b) Authorize the Chair of the Board of Supervisors to execute the subordination agreement, consistent with the terms and conditions.
Sponsors: HOUSING AND COMMUNITY DEVELOPMENT
Attachments: 1. Board Letter, 2. Agreement
Title
Consider recommendations regarding the subordination of Casa Esperanza Homeless Shelter Loan, Second District, as follows:
 
a) Approve the subordination of the County's $500,000 interest in an existing $1,000,000 loan made in partnership with the City of Santa Barbara and its Redevelopment Agency for the homeless shelter located at 816 Cacique Street in Santa Barbara, to a refinanced loan from Business First National Bank; and
 
b) Authorize the Chair of the Board of Supervisors to execute the subordination agreement, consistent with the terms and conditions.
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