HomeMy WebLinkAboutMINUTES - 08111998 - C105 • Contra.
• Costa
TO: BOARD OF SUPERVISORS/REDEVELOPMENT AGENCY ` Courcy
FROM: Dennis M. Berry, AICP
Community Development Director
DATE: August 11, 1998
SUBJECT: Loan Agreements between the County of Contra Costa
and the Contra Costa County Redevelopment Agency
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
.RECOMMENDATIONS
APPROVE & AUTHORIZE the Director of Community Development, on behalf of the County, and the
Deputy Director- Redevelopment, on behalf of the Redevelopment Agency, to execute Loan Agreements
related to the North Richmond Senior Housing Project (not to exceed $500,000), North Richmond
Commercial Center Project (not to exceed $809,000), Pleasant Hill BART Area 4 site assemblage (not
to exceed $2,127,000); and Pleasant Hill BART Coggins Square Financial Assistance (not to exceed
$600,000).
FISCAL IMPACT
No general funds. The Agency is borrowing restricted revenues -Affordable Housing Trust Fund (Fund
#111300)-to fulfill its obligations for the production of affordable housing in its Redevelopment Project
Area.
BACKGROUND/REASONS FOR REC-OMMENDATIONS
To implement various agreements related to the North Richmond Senior Housing/Commercial Center
Project and the Assemblage/Development of Area 4S at the Pleasant Hill BART Station, the Board of
Supervisors and the Redevelopment Agency have agreed to the loan of Affordable Housing Trust
Funds. These funds are restricted revenues that may be used to facilitate the development of affordable
housing, and for local community and economic development. These transactions have been approved
by the Agency as part of approving Disposition and Development Agreements for these projects. The
recommended action memorialize the terms of the financial assistance from the Coun to.the Agency.
CONTINUED ON ATTACHMENT: YES SIGNATURE: , /
RECOMMENDATION OF COUNTY ADMINISTRATOR ECOMM DATION OF B RD
OMMITTEE ;K_ APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON August 11,-. Lg98 APPROVED AS RECOMMENDED_Z_OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
x_ 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.
Source: Jim Kennedy (335-1255)
cc: Community Development ATTESTED __Au u st -111199 8
CAC) PHIL BATCHELOR, CLERK OF
County Counsel THE BOARD OF SUPERVISORS
Auditor - Controller AND COUNTY ADMINISTRATOR
B , DEPUTY
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