File #: 10-00577    Version: 1
Type: Agenda Item Status: Passed
File created: 6/11/2010 In control: BOARD OF SUPERVISORS
On agenda: 6/22/2010 Final action: 6/22/2010
Title: Consider recommendations regarding a Homebase on G HOME Investment Partnerships Act (HOME) Loan Agreement, Fourth District, as follows: a) Approve the final commitment of $200,000.00 in HOME Investment Partnerships Act (HOME) funds to 513 North G, L.P. for permanent financing costs associated with the Homebase on G Project ,providing 39 affordable rental units in the City of Lompoc; b) Approve and authorize the Chair to execute a HOME Loan Agreement in the amount of $200,000.00, and a HOME Regulatory Agreement; c) Approve and authorize the Director of Housing and Community Development to execute two Subordination Agreements in a form approved by County Counsel, one for a loan by the State of California Housing Finance Agency through the Mental Health Services Act, and one for a loan by the State of California Department of Housing and Community Development through the Governor’s Homeless Initiative; and d) Find that the making of a permanent financing loan for the existing Homebase...
Sponsors: HOUSING AND COMMUNITY DEVELOPMENT
Attachments: 1. Board Letter, 2. Attachment A: HOME Loan Agreement, 3. Attachment B: HOME Regulatory Agreement, 4. Attachment C: Notice of Exemption

Title

Consider recommendations regarding a Homebase on G HOME Investment Partnerships Act (HOME) Loan Agreement, Fourth District, as follows:

 

a) Approve the final commitment of $200,000.00 in HOME Investment Partnerships Act (HOME) funds to 513 North G, L.P. for permanent financing costs associated with the Homebase on G Project ,providing 39 affordable rental units in the City of Lompoc;

 

b) Approve and authorize the Chair to execute a HOME Loan Agreement in the amount of $200,000.00, and a HOME Regulatory Agreement;

 

c) Approve and authorize the Director of Housing and Community Development to execute two Subordination Agreements in a form approved by County Counsel, one for a loan by the State of California Housing Finance Agency through the Mental Health Services Act, and one for a loan by the State of California Department of Housing and Community Development through the Governor’s Homeless Initiative; and

 

d) Find that the making of a permanent financing loan for the existing Homebase on G Project is exempt from CEQA pursuant to CEQA Guideline 15301.