Agenda

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C. 96

To:	Board of Supervisors
From:	John Kopchik, Director, Conservation & Development Department
Date:	October 6, 2015

Contra

Costa

County

Subject:

Reconveyence of Contra Costa County Deed of Trust on APN 417-140-011 of the Casa Adobe Apartments Property

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 10/06/2015

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Mary N. Piepho, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:

Kara Douglas 674-7880

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: October 6, 2015
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the Conservation and Development Director, or designee, to execute legal documents, and take related action, to release the County’s security interest in a vacant parcel adjacent to 1924 Church Lane, San Pablo, and retain the County’s security interest in the developed parcel at 1924 Church Lane, San Pablo, in connection with a 1998 CDBG loan and a 2008 Multifamily Housing Revenue Bond, as recommended by the Conservation and Development Director.

FISCAL IMPACT:

None. The County interest will continue to be secured on the parcel with the improvements and will not be diminished by this action. The parcel to be reconveyed is vacant and is unuseable by the Casa Adobe Apartments residents or staff.

BACKGROUND:

On December 1, 1989, the County loaned San Pablo Senior Associates L.P. $330,000 in Community Development Block Grant (CDBG) funds to assist in the development of Casa Adobe Apartments in San Pablo. As part of the larger refinancing, the loan was amended and restated on November 1, 2008, incorporating the original loan amount and accrued interest, resulting in a new loan of $562,511. The loan is secured by a deed of trust on property owned by San Pablo Senior Associates, which consists of two parcels. The larger parcel (APN 417-150-017), located at 1924 Church Lane, is approximately one acre and is improved with the Casa Adobe Apartments. The second parcel (APN 417-140-011) is at the corner of Church Lane and Chatterton Lane. It is approximately 2,300 square feet and is separated from the apartment complex by Wildcat Creek. There are no structures on this parcel. County Multifamily Housing Revenue Bonds were also used in the 2008 project refinance.

The City of San Pablo requested to purchase the small parcel and incorporate it into a new development that will include new City offices, a public library and commercial uses. The City plans to use the land to widen Chatterton Lane, create public walkways, and open space. The City will purchase the parcel for the nominal cost of $40,000. San Pablo Senior Associates will use the funds to install perimeter fencing, security camera equipment, upgraded exterior door locks, and pay transaction related costs.

Release of the County deed of trust and associated documents on this parcel will have no impact on the ability of San Pablo Senior Associates L. P. to continue providing affordable housing on the larger parcel. The deed of trust will continue to be recorded on the larger parcel, which has all of the improvements.

CONSEQUENCE OF NEGATIVE ACTION:

If the County does not reconvey the deed of trust and associated documents from this parcel, the City will not be able to complete its improvements on this and adjacent land and San Pablo Senior Associates L.P. will not be able to increase security on the larger parcel.