HomeMy WebLinkAboutMINUTES - 04061993 - 1.37 Contra
Costa
TO: BOARD OF SUPERVISORS
i
County .
FROM: Harvey E. Bragdon
Director of Community Development
DATE: April 6, 1993
SUBJECT: Marsh Creek Sweat Equity Housing Project - CDBG Project Agreement and
Loan Documents
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Authorize the Deputy Director, Redevelopment, or his designee to:
( 1) execute a continuation Project Agreement with the Marsh Creek
Vista Homeowners ' Association for the Marsh Creek Sweat Equity Housing
Project; and (2) execute loan documents with qualified homebuyers to
acquire housing units in this project.
FISCAL IMPACT
No General Funds are involved. Funds for this project were approved
from the FY 1992-93 Community Development Block Grant (CDBG)
allocation.
BACKGROUND/REASONS FOR RECOMMENDATIONS
On February 25, 1992, the Board of Supervisors approv d $240,000 in
CONTINUED ON ATTACHMENT: X YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDA OF B6rD COMMIT
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: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
Contact: Kathleen Hamm • / /���
646-4208 ATTESTED
cc: County Administrator PITIV BATCHELOR, CLERK OF
County Counsel . THE BOARD OF SUPERVISORS
Auditor-Controller (N. Garnett) ND COUNTY ADMINISTRATOR
Community Development
RCHC BY , DEPUTY
I/
FY 1992/93 CDBG funds to support the Marsh Creek Sweat Equity
Project located in the City of Brentwood. The project is being
developed by Rural California Housing Corporation through a
nonprofit subsidiary, the Marsh Creek Vista Homeowners '
Association. When complete, Marsh Creek Vista will include 102
units of self-help housing for acquisition by very-low and low-
income households . The project will use a combination of Section
502 Farmers ' Home Administration funds, State Farmworker Grants,
and CDBG funds to finance acquisition of newly constructed single
family homes by qualified households . County CDBG assistance will
be in the form of silent second loans for 16 to 24 lower income
households who: are first-time homebuyers; agree to occupy the
unit as their principle place of residence; and agree to contribute
"sweat equity" by assisting in the project construction.
The current Project Agreement for the Marsh Creek Project expires
at the close of the FY 1992/93 CDBG Program Year (March 31, 1993) .
Approval of the continuation Agreement is necessary to permit this
project to proceed in a timely fashion. The first CDBG loans will
be provided in April 1993 . It is anticipated that the project will
be complete and all CDBG funds expended by June of 1996 .
kh/k4/BOSMC93 .
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