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TO: REDEVELOPMENT AGENCY t• Costa
FROM: Phil Batchelor County
Executive Director
DATE: April 11, 2000
SUBJECT: Rodeo Senior Housing
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
APPROVE and AUTHORIZE the Deputy Director- Redevelopment to execute a First
Amendment to Disposition Development and Loan Agreement with Ecumenical Association
for Housing for the development of the Rodeo Senior Housing Project.
FISCAL IMPACT
None. No general funds are involved. All additional loan proceeds are Redevelopment or
outside funding.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
RECOMMENDATION OF EXECUTIVE DIRECTOR R COMMEND TION OF AG CY
COMMITTEE APPROVE OTHER
SIGNATURE(S):
ACTION OF AGENCY ON APPROVED AS RECOMMENDED
OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS {ABSENT l'1 } TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT
AGENCY ON THE DATE SHOWN.
Contact: Jim Kennedy
335-1255 ATTESTED r + _�gere)
cc: Community Development PHIL BA CHELOR, AGENCY SECRETARY
Redevelopment Agency
County Administrator
County Counsel
via Redevelopment Agency BY EPUTY
EAH
Rodeo MAC
Goldfarb & Lipman
JK:jjr
D: Stevens\Rodeo\SeniorHouagBoardOrder.doe
BACKGROUND/REASONS FOR RECOMMENDATIONS
On October 6, 1998 the Redevelopment Agency entered into a Disposition Development and
Loan Agreement with Ecumenical Association for Housing (EAH). The agreement provides for EAH to
undertake the development of an affordable senior housing project in the Rodeo Redevelopment Area.
In the Fall of 1999 EAH successfully secured an award of Federal Section 202 funding for the senior
housing project. Based on this award, the project should be able to proceed to construction in 2001.
In an effort to develop as diversified a funding base as possible, the Redevelopment Agency and
EAH requested funding from the Tosco Good Neighbor Agreement Funds administered by the Rodeo
MAC, An award of$138,000 was provided. The Redevelopment Agency will become the fiscal agent for
the provision of these Good Neighbor Funds to the project. The funds have been received by the Agency
and have been deposited in our housing set-aside funds. The purpose of this First Amendment is to
incorporate these Good Neighbor funds into the financial assistance being provided to EAH for the
project.
D:\EStcvens\Rodoo\SeniorHousgBoardOrder.doe