REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
March 15, 2022
FROM
GARY HALLEN, Director, Community Development and Housing
SUBJECT
Title
HOME Loan Agreement with Rialto Metrolink South Housing Partners, L.P., a California Limited Partnership for the Rialto Metrolink South Affordable Housing Development in the City of Rialto
End
RECOMMENDATION(S)
Recommendation
1. Approve HOME Investment Partnership Program Loan Agreement and all related loan documents, not to exceed $2,250,000, with Rialto Metrolink South Housing Partners L.P., a California Limited Partnership to construct 55 affordable housing units.
2. Authorize the Chief Executive Officer or the Deputy Executive Officer of Community Revitalization, subject to review by County Counsel, to make necessary non-substantive modifications to the exhibits attached to the HOME Investment Partnership Program Loan Agreement to conform to the transaction and execute all required documents, including escrow agreements, related to this transaction.
3. Direct the Community Development and Housing Director to transmit all related documents to the Clerk of the Board of Supervisors within 30 days of execution.
(Presenter: Gary Hallen, Director, 387-4411)
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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.
FINANCIAL IMPACT
Approval of this item will not result in the use of any Discretionary General Funding (Net County Cost). The total project cost for construction of the Rialto Metrolink South Affordable Housing Development (Project) is $28,744,673. The County HOME Investment Partnership Program (HOME) funds in an amount not to exceed $2,250,000, through a HOME Loan Agreement with Rialto Metrolink South...
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