HomeMy WebLinkAboutMINUTES - 09211993 - 1.61 Contra
Costa
TO: BOARD OF SUPERVISORS Coin
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FROM: Harvey E. Bragdon
Director of Community Development
DATE: September 21, 1993
SUBJECT: Richmond Multi-Family Housing Bonds
SPECIFIC REQUEST(S) OR RECOMMENDATIONS (S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
AUTHORIZE the Deputy Director-Redevelopment to execute an
Administration Agreement with the Richmond Redevelopment Agency and
BRIDGE Housing Acquisitions, Inc. relative to the multi-family housing
bond financing of the Summit at Hilltop Apartments.
FISCAL IMPACT
The County's Community Development Department will be compensated for
the administrative services provided.
BACKGROUND/REASONS FOR RECOMMENDATIONS
The Richmond Redevelopment Agency is issuing multi-family housing
revenue bonds to finance the acquisition of the Summit at Hilltop
Apartments by BRIDGE Housing Acquisitions, Inc. The project will
include a Regulatory Agreement that imposes a housing affordability
requirement. Compliance with these requirements must be monitored.
The Richmond Redevelopment Agency has requested the County of Contra
Costa to provide compliance services because the County has staff for
this function and is highly experienced in this field.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR REC MM NDATION F BOARD C ITTEE
APPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: = M NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
Jim Kennedy
646-4076
cc: Community Development
County Administrator ATTESTED SEP 2 1 1993
County Counsel PHIL BATCHELOR, CLERK OF
via Community Development THE BOARD OF SUPERVISORS
Richmond Redevelopment Agency AND COUNTY ADMINISTRATOR
BRIDGE Housing Acquisitions, Inc.
Jones Hall Hill & White
JK:Ih BY , DEPUTY
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