To: Board of Supervisors
From: John Kopchik, Director, Conservation and Development
Report Title: Approval of $2,766,142 PLHA and $4,197,500 HOME Loan and Related Documents for the Mayfair Affordable Housing Project
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
1. APPROVE and AUTHORIZE a loan of Permanent Local Housing Allocation (PLHA) funds in the amount of $2,766,142 and HOME Investment Partnerships Program (HOME) funds in the amount of $4,197,500, for a total loan amount of $6,963,642 to Mayfair Affordable Housing LP, a California limited partnership, for the construction of an affordable housing development known as Mayfair Affordable Housing, located at 11690 San Pablo Avenue in El Cerrito.
2. APPROVE and AUTHORIZE the Director of Conservation and Development, or designee, to execute (i) a Loan Agreement evidencing the County's loan of $6,963,642 of HOME funds and PLHA funds to Mayfair Affordable Housing, (ii) a HOME/PLHA Regulatory Agreement and County Regulatory Agreement to be recorded against the property, (iii) a Deed of Trust to be recorded against the property, (iv) an Intercreditor and Subordination Agreement with the City of El Cerrito, (v) a HOME Promissory Note to reflect the $4,197,500 HOME loan, and (vi) a PLHA Promissory Note to reflect the $2,766,142 PLHA loan.
3. FIND, as the responsible agency, that on the basis of the whole record before the County including the California Environmental Quality Act (CEQA) review prepared by the City of El Cerrito, as the lead agency, that the development is categorically exempt under CEQA Guidelines Section 15168; and DIRECT the Conservation and Development Director, or designee, to file a Notice of Exemption for Mayfair Affordable Housing with the County Clerk, and pay any required fee for the filing.
FISCAL IMPACT:
No General Fund impacts. PLHA funds are provided to the County as a grant on a formula application basis through the State's Department...
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