REPORT/RECOMMENDATION TO THE BOARD OF GOVERNORS
OF THE HOUSING AUTHORITY OF THE COUNTY OF SAN BERNARDINO
AND RECORD OF ACTION
August 6, 2019
FROM
MARIA RAZO, Executive Director, Housing Authority of the County of San Bernardino
SUBJECT
Title
Limited Partnership for Low Income Housing Tax Credits and other Funding for the Arrowhead Grove Phase II Affordable Housing Project
End
RECOMMENDATION(S)
Recommendation
1. Adopt a Resolution to:
a. Authorize the Housing Authority of the County of San Bernardino controlled business entity, Waterman Affordable 3 LLC, as it relates to the Arrowhead Grove Apartments Phase 2 Development Project, to serve in a limited partnership, Waterman Gardens Partners 2, L.P. that will receive the Low Income Housing Tax Credits and all other funding to complete the development project; and
b. Authorize the Chairperson, Vice Chairperson, Chief Executive Officer, or Executive Director of the Housing Authority of the County of San Bernardino (Authorized Officer), upon consultation with Legal Counsel, to execute and deliver all agreements necessary to consummate the role of the Housing Authority of the County of San Bernardino and the Waterman Affordable 3 LLC in the limited partnership, including the Operating Agreement, Partnership Agreement, Fee Agreement, Option Agreement and ancillary documents necessary to carry out and close the transaction.
2. Direct the Executive Director of the Housing Authority of the County of San Bernardino to transmit all documents to the Secretary within 30 days of execution.
3. Acknowledge that the documents provided are subject to revisions as the United States Department of Housing and Urban Development or Authorized Officer, in consultation with Legal Counsel, may require or approve.
(Presenter: Maria Razo, Executive Director, 332-6305)
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COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Promote the Countywide Vision.
Provide for the Safety, Health and Social Service Needs of C...
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