File #: 19-00553    Version: 1
Type: Agenda Item Status: Passed
File created: 6/7/2019 In control: BOARD OF SUPERVISORS
On agenda: 6/18/2019 Final action: 6/18/2019
Title: Consider recommendations regarding Subordination of County Loan and Regulatory Agreement on Vintage Walk Apartments in Buellton, Third District, as follows: a) Approve and authorize the Chair to execute the subordination Agreement and Addendum to Subordination Agreement, which will subordinate the County's Loan and Regulatory Agreement to a new senior loan in the approximate amount of Three Hundred and Fifty Five Thousand Dollar ($355,000.00); and b) Determine that the recommended actions are not a project under the California Environmental Quality Act (CEQA) pursuant to CEQA Guideline section 15378(b)(4), finding that the activities 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 physical impact on the environment.
Sponsors: COMMUNITY SERVICES DEPARTMENT
Attachments: 1. Board Letter, 2. Attachment A_ Subordination Agreement, 3. Attachment B_Addendum to Subordination Agreement, 4. Executed Agreement Attach. A, 5. Executed Agreement Attach. B, 6. Minute Order

Title

Consider recommendations regarding Subordination of County Loan and Regulatory Agreement on Vintage Walk Apartments in Buellton, Third District, as follows:

 

a) Approve and authorize the Chair to execute the subordination Agreement and Addendum to Subordination Agreement, which will subordinate the County’s Loan and Regulatory Agreement to a new senior loan in the approximate amount of Three Hundred and Fifty Five Thousand Dollar ($355,000.00); and

 

b) Determine that the recommended actions are not a project under the California Environmental Quality Act (CEQA) pursuant to CEQA Guideline section 15378(b)(4), finding that the activities 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 physical impact on the environment.