HomeMy WebLinkAboutMINUTES - 09122006 - C.111 I
TO: BOARD OF SUPERVISORS -: Contra
Costa
FROM: I Dennis M. Barr AICI'
} ;u:.:,l, :t County
Director of Community Development
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DATE: September 12, 2006 ,
SUBJECT: i Villa Vasconcellos Affordable Housing Project Legal Documents and CEQA Determination
SPECIFIC RI:QUIJ.ST(S) )R RECOMM1=.NDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
(1) AUTHORIZE the Deputy Director. Redevelopment or his designee to execute an Assignment and
Assumption and Omnibus Amendment to provide $600,000 in HOME Investment Partnership Act
(I IONJE) funds t6 Resources for Community Development (RCD) for the Villa Vasconcellos project in
Walnut Creek.
(2) FINIJ, as the responsible agency, thai the City of Walnut Creek, as the lead agency, determined that this
project is exempt from the California' Environmental Quality Act pursuant to Public Resources Code
Sectic!m 21 159.23.
(3) DIRECT the Community Development Director, or designee, to file a Notice of Exemption for this
project with the County Clerk.
(4) DIRECT the Community Development Director, or designee, to arrange for payment of the $25 handling
fee (o the County Clerk for filing such Notice ol�Exemption
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FISCAL .IMPACT
No General �Und impact. HOME, lands are provided to the County on a formula allocation basis through the
U.S. Department of Housing and Urban Development (I IUD).
BACKGROUND/REASONS FOR RECOI MENDATIONS
On May 9, 2,006 the Board of Supervisors allocated $600,000 in HOME funds to Resources for Community
Development for the Villa Vasconcellos project in Walnut Creek.
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CONTINUED ON ATTACHMENT: X YES SIGNATURE:
�0
YKECOMMENDA"PION OF COUNTY ADMINISTRATOR 7OMMEN TION OF BO D
COMMI`TT'IT.
APPROVE _OTHER
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SIGNATUIZE(S): r � �
I () i'%I2�6.� ACTION
OF BOARD ON _ APPROVED AS RECOMMENDED_tV O�,H R_
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VOTE OFiSUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS (ABSENT ���� ) TRUE AND CORRECTCOPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON 'TIIE
ABSENT: !, ABSTAIN: MINUTES OF THE BOARD OF
SUPERVI RS ON THE DATE SHOWN.
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Contact: Kara Douglas, 335-7223 ATTESTED cV p _
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Orifi: Community Development/CDBG HN CULLEN, CLERK
cc: County Administrator OF T11E BOARD OF SUPERVISORS
County Counsel AND CO T . ADM 'TRATOR
Auhitor-Controller B DEPUTY
77
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The Board 0fISupervisors has previously made the following allocation of funds to RCD for this project:
• Nlay 16, 2006: $500.000 of HOME lu,nds for permanent supportive housing for chronically homeless
• May 24, 2005: $351,863 in I lousing Opportunities for Persons with HIV/AIDs (HOPWA)
• September 13. 2005: $1,135,000 in I ROME funds
'File total amount of County funds provided to this project is $2,586,863.
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The County and RCD executed a loan agreement, promissory note, deed of trust, regulatory agreement, and
intercredilor agreement (with the City of Walnut Creek) in November 2005. An assignment and assumption and
omnibus anie�idment is now required to amend the previously executed documents to add the additional
$600,000 in BIOME Binds and to assign the agreements from RCD to the limited partnership formed to
undertake the development of this project. hi addition, the promissory note will require a notation to add the
additional funds.
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The Villa Vasconcellos project will provide 70 units of affordable housing to seniors, including five units
available to chronically homeless seniors and three units available for homeless seniors with HIV/AIDs.
The County documents require the project t6 be allordable for 55 years. The HOME funds have an interest rate
of three percent. The 1-IOPWA funds do not bear interest. Any loan payments will be made from excess cash
flow from pr6ject operations. Loan paynnents will be shared on a pro-rata basis with the City of Walnut Creek.
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KD\\I's-cd\users \h17ouglas\kdnnglas\Nc..\Board(hdcrs\?106\VV addfimds.doc
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