Title
Consider recommendations regarding funding reservations to Sierra Madre Cottages, and the residences at Depot Street, Fifth District, as follows:
a) Approve a preliminary reservation of County funds for the Sierra Madre Cottages project that will (a) be in an amount not to exceed $900,000.00; (b) consist of HOME funds and/or In-Lieu Funds in specific amounts to be determined by the Board at a later date; and (c) be released if People’s Self-Help Housing Corporation does not receive notification of an award of state low-income housing tax credits for the project by September 30, 2017;
b) Authorize the Director of Community Services Department (CSD) to sign a letter to the Sierra Madre Cottages project applicant indicating the approved reservation;
c) Approve a preliminary reservation of County funds for The Residences at Depot Street project that will (a) be in an amount not to exceed $1,800,000.00; (b) consist of HOME funds and/or In-Lieu Funds in specific amounts to be determined by the Board at a later date; and (c) be released if the Housing Authority of Santa Barbara County does not receive notification of an award of state low-income housing tax credits for the project by September 30, 2017;
d) Authorize the Director of the Community Services Department (CSD) to sign a letter to The Residences at Depot Street project applicant indicating the approved reservation; and
e) 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, and direct staff to file a Notice of Exemption.