File #: 20-00171    Version: 1
Type: Administrative Item Status: Agenda Ready
File created: 2/28/2020 In control: BOARD OF SUPERVISORS
On agenda: 3/10/2020 Final action: 3/10/2020
Title: Consider recommendations regarding a reservation of County funds for the Isla Vista Apartments affordable housing rehab project (Project) in Isla Vista, Third District, as follows: a) Approve a reservation of County funds for the Isla Vista Apartments Rehab Project that will (a) be in an amount not to exceed $1,000,000.00; (b) consist of funds from the Low Moderate-Income Housing Asset Fund (LMIHAF); and (c) be released if People's Self-Help Housing Corporation does not receive notification of an award of low-income housing tax credits (LIHTC) for the Project by March 10, 2021; b) Authorize the Director of Community Services Department (CSD) to sign a letter to the Isla Vista Apartments project applicant indicating 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), findi...
Sponsors: COMMUNITY SERVICES DEPARTMENT
Attachments: 1. Board Letter, 2. Attachment A - Letter Reservation of Funds, 3. Attachment B - Notice of Exemption, 4. Attachment C - 20-Yr Project Proforma, 5. Minute Order

Title

Consider recommendations regarding a reservation of County funds for the Isla Vista Apartments affordable housing rehab project (Project) in Isla Vista, Third District, as follows:

 

a) Approve a reservation of County funds for the Isla Vista Apartments Rehab Project that will (a) be in an amount not to exceed $1,000,000.00; (b) consist of funds from the Low Moderate-Income Housing Asset Fund (LMIHAF); and (c) be released if People’s Self-Help Housing Corporation does not receive notification of an award of low-income housing tax credits (LIHTC) for the Project by March 10, 2021;

 

b) Authorize the Director of Community Services Department (CSD) to sign a letter to the Isla Vista Apartments project applicant indicating 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, and direct staff to file a Notice of Exemption.