HomeMy WebLinkAboutMINUTES - 07251989 - 1.53 -053
TO: BOARD OF SUPERVISORS ^�
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FROM: HARVEY E. BRAGDON, ^_ �
DIRECTOR OF COMMUNITY DEVELOPMENT Cx)sta
DATE: July 18, 1989 `-"'u' ",
SUBJECT: Approval of $100,000 Bridge Loan to Battered Women' s Alternatives for
Acquisition of Transitional Housing Facility
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
APPROVE Note, Deed of Trust, and Deed of Development Rights with
Battered Women' s Alternatives; AUTHORIZE the Director of Community
Development or the Deputy Community Development Director -
Redevelopment to execute said documents AUTHORIZE the
Auditor-Controller to issue a warrant in an amount not to exceed
$100 ,000 from Housing Bond Trust funds 018-108-010 or 018-108-011,
j payable to Placer Title Company, Escrow No. 502647-BMC.
FISCAL IMPACT
The $100,000 loan to Battered Women' s Alternatives would be
advanced out of the Housing Bond Trust Fund, secured by a
promissory note and deed of trust, and would be repaid within 60
days. The: advance allows the Battered Women' s Alternatives to
close escrow on the property on August 1, 1989. Battered Women' s
Alternatives anticipates receipt of other financial commitments by
October 11, 1989 , including $10,000 of Contra Costa County Community
Development Block Grant funds; $80, 000 of Concord Community
Development Block Grant funds, and a private donation of $10,000
from PaineWebber Inc.
BACKGROUND/REASONS FOR RECOMMENDATIONS
The Battered Women' s Alternatives has developed a proposal for a
16-unit transitional housing facility for battered women and their.
children at 3002 Grant Street in Concord. The facility would
provide the only transitional housing facility for battered women
in Contra Costa County and would supplement the emergency ho ' ng
CONTINUED ON ATTACHMENT: YES SIGNATURE-
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMER16W OF COMMITTEE
APPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON JUL 2 5 19U9 APPROVED AS RECOMMENDED _� OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
cc: Community Development (Orig. ) ATTESTED
JUL 2 5 1989
PHIL BATCHELOR, CLERK OF
THE BOARD OF SUPERVISORS
AND COUNTY ADMINISTRATOR
I
BY DEPUTY
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cjal/bwaloan.bo