Agenda

Return

C.55

To:
From:	David Twa, Redevelopment Agency Executive Director
Date:	February 3, 2009

Contra

Costa

County

Subject:

Loan Agreement for Habitat for Humanity, Bay Point Redevelopment Project Area

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 02/03/2009

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Gayle B. Uilkema, District II Supervisor
Mary N. Piepho, District III Supervisor
Susan A. Bonilla, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:	335-7230
cc:	Maureen Toms Jim Kennedy Danielle Kelly Victoria Mejia County Counsel

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: February 3, 2009
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the Redevelopment Director to execute an Amendment to Agency Loan Agreement with Habitat for Humanity East Bay, increasing the loan amount by $711,000 for a new amount of $1,036,000 for the Inglewood Street Project, Bay Point area.

FISCAL IMPACT:

No general funds will be used. Budgeted funds are available from the Bay Point Redevelopment Project Area Housing Set-Aside funds for fiscal year 2008/2009.

BACKGROUND:

Habitat for Humanity, a non-profit housing developer, acquired property in Bay Point for the construction of nine single-family residential units for low and moderate income households in the Bay Point Redevelopment Project Area. The proposed housing is fully entitled and will be built on a vacant 1.2 acre property in the Bella Vista neighborhood of Bay Point. The County Redevelopment Agency has previously provided $300,000 in funds for land acquisition expenses and $25,000 for off-site infrastructure purposes. The additional funds will be used for infrastructure and other constructions costs associated with the project. In accordance with Sections 33334.2(e) (2) (A) of the California Health and Safety Code the improvements to be funded are a fundamental component of the construction of the affordable housing units which will be directly benefited by the improvements. In addition, the Agency has recorded a restriction against the Property requiring that the units remain available at affordable housing cost to, and occupied by, persons and families of low and moderate income for the applicable statutory period.