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File #: 19-00194    Version:
Type: Agenda Item Status: Passed
File created: In control: BOARD OF SUPERVISORS
On agenda: 3/19/2019 Final action: 3/19/2019
Title: Consider recommendations regarding Transitions Mental Health Association AB 2034 Loan, Collateral Substitution, as follows: a) Approve the substitution of collateral property currently located at 1418 South Raven Court in Santa Maria, CA (Raven Court) with replacement collateral property located at 613 North Curryer Street in Santa Maria, CA (Curryer Street), which secures an existing loan in the amount of $125,000.00 of AB 2034 one-time housing grant funds to Transitions Mental Health Association (AB 2034 Loan) to provide affordable housing in the City of Santa Maria with three project units/beds dedicated for a term of thirty (30) years for qualified mentally ill adult clients of the County of Santa Barbara; b) Approve and authorize the Chair and the Director of Behavioral Wellness to execute a First Addendum (Addendum) to the Funding Agreement for AB 2034 One Time Housing Funds Between the County of Santa Barbara and Transitions Mental Health Association (Funding Agreement) (toge...
Sponsors: BEHAVIORAL WELLNESS
Attachments: 1. Board Letter, 2. Attachment A - Transaction Summary, 3. Attachment B - Funding Agreement 2002, 4. Attachment C - Deed of Trust and Assignment of Rents (Curryer), 5. Attachment D - First Addendum to Funding Agreement, 6. Attachment E - Amended and Restated Promissory Note (Curryer St), 7. Attachment F - Substitution of Trustee and Deed of Full Reconveyance (Raven Court), 8. Memorandum Dated March 4, 2019, 9. Executed Agreement, 10. Minute Order
Title
Consider recommendations regarding Transitions Mental Health Association AB 2034 Loan, Collateral Substitution, as follows:

a) Approve the substitution of collateral property currently located at 1418 South Raven Court in Santa Maria, CA (Raven Court) with replacement collateral property located at 613 North Curryer Street in Santa Maria, CA (Curryer Street), which secures an existing loan in the amount of $125,000.00 of AB 2034 one-time housing grant funds to Transitions Mental Health Association (AB 2034 Loan) to provide affordable housing in the City of Santa Maria with three project units/beds dedicated for a term of thirty (30) years for qualified mentally ill adult clients of the County of Santa Barbara;

b) Approve and authorize the Chair and the Director of Behavioral Wellness to execute a First Addendum (Addendum) to the Funding Agreement for AB 2034 One Time Housing Funds Between the County of Santa Barbara and Transitions Mental Health Association (Funding Agreement) (together, the Funding Agreement and Addendum);

c) Approve and accept an Amended and Restated Promissory Note on Curryer St. that reflects the above-described substitution of collateral;

d) Approve and accept a Deed of Trust on the Curryer St. facility which will serve as substitute collateral securing performance of the Funding Agreement and Addendum and Amended and Restated Promissory Note;

e) Approve and authorize the Director of Behavioral Wellness to execute a Substitution of Trustee and Deed of Full Reconveyance which will release the deed of trust on the Raven Court property; and

f) Determine that the recommended actions are not the acceptance and 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 a creation of government funding mechanisms or other government fiscal activities, which do not involve any commitment to any specifi...

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