DATE: November 28, 2023
TO: Board of Supervisors
SUBMITTED BY: Sanja Bugay, Director, Department of Social Services
SUBJECT: Assignment and Assumption Agreement to the Homekey Standard Agreement with the California Department of Housing and Community Development
RECOMMENDED ACTION(S):
TITLE
Approve and authorize the Chairman to execute the acknowledgement of the Assignment and Assumption Agreement that is required to reassign the Homekey Standard Agreement from RH Community Builders, LP to Crossroads Village Fresno, LP.
REPORT
Approval of the recommended action will authorize the Chairman to execute the acknowledgement of the Assignment and Assumption Agreement to transfer the obligations of the Homekey Standard Agreement from RH Community Builders, LP (RHCB) to Crossroads Village Fresno, LP (Crossroads). The Homekey Standard Agreement was originally signed by RHCB, UP Holdings, LLC (UP Holdings), and the County. Subsequently, a new Limited Partnership was developed under Crossroads and additional State funds were received to complete renovations to the project under the new name. The State has requested that signatories be consistent across all funding agreements related to Homekey: Crossroads, UP Holdings, and the County. Execution of the recommended action is required to modify the Homekey Standard Agreement with California Department of Housing and Community Development (HCD) to align the Homekey Standard Agreement and other State funding related to the project. Although this item pertains to a location in District 2, the item is countywide.
ALTERNATIVE ACTION(S):
Should your Board elect not to approve the recommended action, the County and its partners will be unable to assign the Homekey Standard Agreement to Crossroads and will be out of compliance with the State of California's request.
FISCAL IMPACT:
There is no increase in Net County Cost associated with the recommended action. While all documents are necessary to remain in compliance with Hom...
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