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TO: BOARD OF SUPERVISORS
FROM: Harvey E. Bragdon Contra
Director of Community Development CJIJJIa
DATE: January 20, 1988 County
SUBJECT: Interim Financing to Acquire and Renovate a Transitional
Housing Facility
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Approve an interim loan of $285, 000 from Housing Bond Trust Funds
(Trust Fund # ' s ( 018 108 010 and 011) to Shelter Inc. for the
acquisition and renovation of an 8-unit apartment project at 78-84
West 6th Street, Pittsburg for a transitional shelter program for
homeless families; and authorize the Director of Community
Development or Deputy Director-Redevelopment to develop and execute
loan documents for said interim loan.
BACKGROUND/REASONS FOR RECOMMENDATIONS
Included in the recommended 1988-89 Community Development Block
Grant Program (which will be before the Board on Februry 9) is an
allocation of $285,000 to Shelter, Inc. to acquire and renovate an
8-unit apartment project at 78-84 West 6th Street, Pittsburg. The
CDBG funds will not be available for use any earlier than
mid-April. Because of the desire to quickly establish a viable
transitional shelter, interim ( short-term) finncing to acquire and
renovate the apartment project can be loaned to Shelter, Inc. from
the County' s Housing Bond Trust Funds. These funds would be paid
back when the CDBG funds are available. The CDBG funds would be
the permanent lending source.
4, JV
CONTINUED ON ATTACHMENT: X YES SIGNA
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATI OF COMMITTEE
APPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON February, 2 , 1988 -. APPROVED AS RECOMMENDED x OTHER x
AUTHORIZED Community..Development Director to prepare a letter , for the
Chair ' s signature , to the City of Pittsburg expressing the Board' s
support for the project and assuring the City of the availability of
financing .
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.
cc: Community Development ATTESTED 'February 2 , 19.88
Shelter, Inc. PHIL BATCHELOR, CLERK OF
Auditor-Controller THE BOARD OF SUPERVISORS
AND COUNTY, ADMINISTRATOR
BY , DEPUTY
JK/mb
la/interim.fin
4Ih't4rim Financing to Acquire and
Renovate a Transitional Housing Facility
January 20, 1988
Page 2
The project is further defined in Attachment A. The project was
scheduled for a land use hearing before the Pittsburg Planning
Commission on January 26, 1988.
The interim loan would be secured by a lien on the property.
Shelter, Inc. would be required to meet all requirements for
property and liability insurance. Renovation work would be done
under the supervision of a licensed general contractor, and would
be subject to federal labor standards.