DATE: August 18, 2020
TO: Board of Supervisors
SUBMITTED BY: Steven E. White, Director
Department of Public Works and Planning
SUBJECT: HOME Agreement with Habitat for Humanity Fresno, Inc. for the Country Meadows II Project in the unincorporated community of Riverdale, California
RECOMMENDED ACTION(S):
TITLE
1. Approve and authorize the Chairman to execute an Agreement with Habitat for Humanity Fresno, Inc. for HOME Investment Partnerships Program funds for the development of the Country Meadows II Project, an affordable housing project in the unincorporated community of Riverdale, California ($450,000); and
2. Authorize the Director of the Department of Public Works and Planning, or designee, upon review and approval by County Counsel as to legal form, to execute all loan and related necessary documents for the Country Meadows II Project, including any amendments thereto, as shall be necessary for the purpose of developing the Project.
REPORT
Approval of the recommended actions will approve a loan in Federal HOME Investment Partnerships (HOME) funds for the development of the Country Meadows II Project (Project), an affordable housing project in the unincorporated community of Riverdale, California. The total development cost is estimated at $1,880,000. The balance of funds needed to complete the financing of the Project will be from non-County funds and include a variety of other public and private funding sources. The HOME agreement is with Habitat for Humanity Fresno, Inc. (Borrower), a California non-profit public benefit organization. The recommended agreement will fund eight single-family residences affordable to households at or below 80% of the average median income for Fresno County. Additionally, the Director of the Department of Public Works and Planning, or designee, will be authorized to execute all loan and related documents necessary for the Project, and any amendments for the loan agreement, subject to the approval of County Counsel ...
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