DATE: April 11, 2023
TO: Board of Supervisors
SUBMITTED BY: Sanja Bugay, Director, Department of Social Services
SUBJECT: Homekey - Revised Resolution, Amendment to Standard Agreement, Estoppel Letter, and Subordination Agreement
RECOMMENDED ACTION(S):
TITLE
1. Approve and authorize the Vice-Chairman to execute a Revised Resolution authorizing Crossroads Village Fresno as a party to the Homekey Standard Agreement with the California Department of Housing and Community Development.
2. Authorize the Chairman to execute, upon review and approval by County Counsel as to legal form, Amendment No. 1 to the Homekey Standard Agreement in identical form as the Agreement included as Attachment A, with the addition of the new ownership structure to the Contractor and signature lines, with the California Department of Housing and Community Development to authorize Crossroads Village Fresno as a party to the Agreement.
3. Approve and authorize the Chairman to execute an Estoppel Letter that is required to close on a construction loan needed to begin the conversion of Crossroads Village to permanent housing.
4. Approve and authorize the Chairman to execute a Subordination Agreement that is required to close on a construction loan needed to begin the conversion of Crossroads Village to permanent housing.
REPORT
Approval of the recommended actions will authorize the Vice-Chairman to execute a Revised Resolution to add the new ownership structure, Crossroads Village Fresno, to the Homekey Resolution. Crossroads Village Fresno is a limited partnership that is made up of original partners, Upholdings, RH Community Builders, and Housing on Merit. The California Department of Housing and Community Development (HCD) has requested the Vice-Chairman to sign the revised Homekey resolution to avoid self-certification by the Chairman. Execution of the Revised Resolution is needed to modify the Homekey Standard Agreement with the HCD to add Crossroads Village Fresno, LP (Part...
Click here for full text