24-00774
Consider recommendations regarding county loan documents and subordination agreement for the Patterson Point Apartments and approval of a substantial amendment to Santa Barbara County’s 2021-2022 Annual Action Plan, Second District, as follows: a) Approve a Substantial Amendment to the Fiscal Year (FY) 2021-2022 Action Plan, which adds One Million, Seventy-Two Thousand Eight Hundred Ninety-Nine Dollars and Fifty-Seven Cents ($1,072,899.57) in HOME Funds for the Project, and direct staff to submit the Substantial Amendment to the U.S Department of Housing and Urban Development (HUD); b) Approve execution by the Board Chair of a County Project Loan Agreement; and Regulatory Agreement; setting forth terms, conditions and requirements attendant to Developer’s acceptance of the County’s Project Loan; c) Approve execution by the Board Chair of a Project Subordination Agreement, wherein the County agrees to Subordinate its Project Loan to a Project construction loan provided by Banc of California; and d) Determine that the approval of this Item is not subject to environmental review under the California Environmental Quality Act (CEQA) pursuant to California Government Code Section 65913.4(d)(2) as it being developed subject to SB35 and provides affordable multi-family rental housing opportunities.
- Committee
- BOARD OF SUPERVISORS
- Introduced
- July 3, 2024
- On agenda
- July 16, 2024
- Passed
- July 16, 2024
Where it was heard
BOARD OF SUPERVISORSWatch Santa Barbara County
Say what matters to you — a street, a company, a subject — and we will email you when Santa Barbara County files something about it.
Free for 14 days, no card — and nothing charges itself: at day 14 the emails simply stop unless you choose to subscribe ($19 a month). One email when something matches, and nothing else. Unsubscribe from any of them. Searching stays free — it is public record.