Title
Consider recommendations regarding execution of State of California Homeless Emergency Aid Program (HEAP) Loan Documents for $500,000.00 loan in State HEAP funds to the Heath House acquisition-rehab project in Santa Barbara, First District, as follows:
a) Approve and authorize the Chair to execute the following documents which relate to a Five Hundred Thousand Dollar ($500,000.00) loan for acquisition and renovation of 18 East Sola Street, Santa Barbara, California for seven (7) permanent supportive housing units:
i) County HEAP Loan Agreement;
ii) County HEAP Loan Promissory Note;
iii) County Deed of Trust, Assignment of Rents, and Security Agreement; and
iv) County HEAP Regulatory Agreement (together, the County HEAP Loan Documents);
b) Approve, ratify and authorize the Chair to execute a subordination agreement subordinating the County’s HEAP Loan to a bridge loan from the Santa Barbara Housing Trust Fund, in an amount not to exceed $375,000.00;
c) Approve, ratify and authorize the Chair to execute a subordination agreement subordinating the County’s HEAP Loan to an existing loan by the State of California Department of Housing and Community Development, in the amount of $535,017.79; and
d) Determine that the recommended actions are exempt under the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines section 15301, as the action consists of the operation, repair, maintenance, permitting, leasing, licensing, or minor alteration of existing public or private structures, facilities, mechanical equipment, or topographical features, involving negligible or no expansion of use, and direct staff to file a Notice of Exemption on that basis.