REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
August 20, 2024
FROM
CARRIE HARMON, Director, Community Development and Housing Department
SUBJECT
Title
Letter of Support for the Refinance of the Olen Jones Senior Apartments in Rancho Cucamonga
End
RECOMMENDATION(S)
Recommendation
1. Approve the Letter of Support to Olen Jones Senior Apartment Community, L.P. for the refinance of the Olen Jones Senior Apartments in Rancho Cucamonga.
2. Authorize the Director of the Community Development and Housing Department to execute the Letter of Support and make any necessary non-substantive modifications, upon consultation with County Counsel, to enable the funding application execution by Olen Jones Senior Apartment Community, L.P. for the Olen Jones Senior Apartments in Rancho Cucamonga refinance.
3. Direct the Director of the Community Development and Housing Department to transmit the executed Letter of Support to the Clerk of the Board of Supervisors within 30 days of execution.
(Presenter: Carrie Harmon, Director, 382-3983)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Promote the Countywide Vision.
Create, Maintain and Grow Jobs and Economic Value in the County.
Ensure Development of a Well-Planned, Balanced, and Sustainable County.
Provide for the Safety, Health and Social Service Needs of County Residents.
Pursue County Goals and Objectives by Working with Other Agencies and Stakeholders.
FINANCIAL IMPACT
Approval of this item does not impact Discretionary General Funding (Net County Cost) and has no effect on the Community Development and Housing Department (CDH) budget.
BACKGROUND INFORMATION
On December 3, 2002 (Item No. 16), the Board of Supervisors (Board) approved the County's HOME Investment Partnerships Program (HOME) Loan Agreement No. 02-1244 (Agreement) with Olen Jones Senior Apartment Community, L.P. (Borrower) and the managing general partner, Northtown Housi...
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