Measure K: Adopt a resolution: A) Authorizing the form of and directing the execution by the Director of the Department of Housing, or designee, of an agreement to provide a forgivable loan (the “Loan”) in the principal amount of $900,000 to Peninsula Open Space Trust and Fifth Crow Farm to finance the purchase and installation of four new mobile home units to serve as farm labor housing in Pescadero pursuant to the County of San Mateo Farm Labor Housing Loan Program; and B) Authorizing the form of a Promissory Note in connection with the Loan; and C) Authorizing the form of a Deed of Trust to secure the Loan; and D) Authorizing the form of an Affordability Covenant to ensure affordability restrictions on the property for 20 years; and E) Authorizing and approving the taking of all necessary actions by the Director of the Department of Housing, or designee, in consultation with the County Attorney, to facilitate the closing of the transaction described herein and to give effect to this Resolution, including to execute and deliver any and all documents and certificates and to make nonmaterial changes to the forms approved herein deemed necessary or advisable to effectuate the purposes of this Resolution and the transaction contemplated hereby.

Resolution Passed Introduced August 27, 2024

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