REPORT/RECOMMENDATION TO THE BOARD OF GOVERNORS
OF THE HOUSING AUTHORITY 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
Arrowhead Grove Phase II Affordable Housing Project Financial Closing Documents
End
RECOMMENDATION(S)
Recommendation
1. Adopt a Resolution:
a. Authorizing the Housing Authority of the County of San Bernardino to enter into a Development Loan Agreement with Waterman Gardens Partners 2, L.P. in a total amount not to exceed $3,412,000 for the construction of Arrowhead Grove Phase 2 Affordable Housing Project.
b. Approve documents ancillary to the Development Loan Agreement(s) including:
i. Promissory Note
ii. Deed of Trust
iii. Regulatory Agreement
c. Approve a Ground Lease Agreement between the Housing Authority of the County of San Bernardino and Waterman Gardens Partners 2, L.P.
d. Approve a Ground Lease Loan Agreement between the Housing Authority of the County of San Bernardino and Waterman Gardens Partners 2, L.P. in an amount not to exceed $970,000 and documents ancillary to the Ground Lease Loan Agreement including:
i. Promissory Note
ii. Deed of Trust
e. Approve documents required by the U.S. Department of Housing and Urban Development to complete the conversion of the former public housing units to project-based vouchers under the Rental Assistance Demonstration program including:
i. Rental Assistance Demonstration Delayed Conversion Agreement
ii. Rental Assistance Demonstration Housing Assistance Payment Contract
iii. U.S. Department of Housing and Urban Development Subordination Agreements
iv. Releases of Declarations of Trust
v. U.S. Department of Housing and Urban Development Use Agreement
vi. Consolidated Owner Certification
f. Approve an Amended and Restated Reciprocal Easement Agreement
g. Approve a Temporary License and Construction Agreement
h. Approve a Partial Assignment of Development Agreement and...
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