File #: 23-00388    Version: 1
Type: Administrative Item Status: Agenda Ready
File created: 4/20/2023 In control: BOARD OF SUPERVISORS
On agenda: 5/2/2023 Final action: 5/2/2023
Title: Consider recommendations regarding Approval of a Funding Reservation Letter for the Buellton Senior Village Apartments affordable housing development (Project), located in the City of Buellton Third District, under sponsorship of the Cabrillo Economic Development Corporation (CEDC), as follows: a) Approve a $2,000,000.00 County funding reservation for the Project; and subject this funding reservation to release if CEDC does not receive an award of 9% low-income housing tax credits (LIHTC) necessary to complete Project financing by May 2, 2024; b) Authorize the Director of Community Services Department (CSD) to sign a letter to CEDC reflecting 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 governme...
Sponsors: COMMUNITY SERVICES DEPARTMENT
Attachments: 1. Board Letter, 2. Attachment A: Village Sr. Apts County Reservation Ltr- Final, 3. Minute Order

Title

Consider recommendations regarding Approval of a Funding Reservation Letter for the Buellton Senior Village Apartments affordable housing development (Project), located in the City of Buellton Third District, under sponsorship of the Cabrillo Economic Development Corporation (CEDC), as follows:

 

a) Approve a $2,000,000.00 County funding reservation for the Project; and subject this funding reservation to release if CEDC does not receive an award of 9% low-income housing tax credits (LIHTC) necessary to complete Project financing by May 2, 2024;

 

b) Authorize the Director of Community Services Department (CSD) to sign a letter to CEDC reflecting 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.