HomeMy WebLinkAboutMINUTES - 11042014 - C.38RECOMMENDATION(S):
APPROVE and AUTHORIZE the Conservation and Development Department Interim Director, or designee, to
execute an assignment and assumption agreement to transfer 21 Rental Rehabilitation loans from the Housing
Authority of Contra Costa County dated from 1993 to 2012 and totaling $794,804.
FISCAL IMPACT:
No General Fund impact. The Rental Rehabilitation loans were funded with Community Development Block Grant
(CDBG) funds and staff costs will be paid with CDBG program administration funds. CDBG funds are provided to
the County on a formula allocation basis through the U.S. Department of Housing and Urban Development.
BACKGROUND:
Between 1993 and 2012, the County, through the Department of Conservation and Development (DCD), provided
Community Development Block Grant (CDBG) funds to the Housing Authority of Contra Costa County (HA) to
administer a Rental Rehabilitation program for small rental properties. Most of the CDBG Rental Rehabilitation loans
were provided to owners of single family homes, and apartments up to eight units. There are 21 outstanding Rental
Rehabilitation loans.
The Housing Authority is no longer receiving CDBG funds for this program and so requested DCD manage the loan
portfolio. Because DCD administers CDBG funds, including management of other CDBG loans, it can add these 21
loans to the CDBG loan portfolio with minimal additional effort. To transfer the loans from the HA to the County,
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 11/04/2014 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I Supervisor
Candace Andersen, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
Contact: Kara Douglas
674-7880
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board
of Supervisors on the date shown.
ATTESTED: November 4, 2014
David Twa, County Administrator and Clerk of the Board of Supervisors
By: Chris Heck, Deputy
cc:
C. 38
To:Board of Supervisors
From:John Kopchik, Interim Director, Conservation & Development Department
Date:November 4, 2014
Contra
Costa
County
Subject:Assignment and Assumption of Rental Rehabilitation Notes and Deeds of Trust from the Housing Authority of CCC
to the County
BACKGROUND: (CONT'D)
both the County and the HA need to execute an assignment and assumption agreement. Upon execution of the
assignment and assumption agreement, the HA needs to assign each note and deed of trust by executing and
recording an Assignment of Note and Deed of Trust document for each property.
CONSEQUENCE OF NEGATIVE ACTION:
Should the Board of Supervisors not approve the transfer of loans, the Housing Authority will continue to manage
the loan portfolio.
CHILDREN'S IMPACT STATEMENT:
N/A
ATTACHMENTS
Assignment and Assumption Agreement