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File #: 800   
Type: Discussion Status: Passed
File created: 7/30/2019 Department: Special Meeting of the Board of Governors of the Housing Authority of the County of San Bernardino
On agenda: 8/6/2019 Final action: 8/6/2019
Subject: Arrowhead Grove Phase II Affordable Housing Project Financial Closing Documents
Attachments: 1. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 12-II. E. Arrowhead Grove HAP Contract Part 2, 2. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 13-II. E. Arrowhead Grove Phase II HAP Contract Labor Addendum, 3. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 14 -II. E. Arrowhead Grove Phase II HAP Contract Part 1, 4. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 15-II.G. Arrowhead Grove Phase II Consolidated Owners Certificate DRAFT, 5. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 16-III. Bond Loan _ Authority Loan Subordination Agreement, 6. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 17-III. A. Bank_Bond Loan - Arrowhead HUD RAD Subordination Agreement, 7. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 18 -IV. A. Arrowhead Grove Development Loan Agreement, 8. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 19-IV. B. Arrowhead Grove Authority Development Loan Promissory Note, 9. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 20-IV. C. Ground Lease Loan Promissory Note, 10. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 21-IV. D. Arrowhead Grove Authority Regulatory Agreement, 11. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 22-IV. E. Arrowhead Grove Authority Development Loan Deed of Trust, 12. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 23-IV. F. Arrowhead Grove Authority Ground Lease Loan Deed of Trust, 13. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 24-IV. G. Authority Loans - Arrowhead HUD RAD Subordination Agreement, 14. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 25-Memos - Arrowhead HUD RAD Subordination Agreement, 15. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 26-V. C. HCD Covenant - Arrowhead HUD RAD Subordination Agreement, 16. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 2-I. A. FULL Release of 1990, 1991,1991 Declarations of Trust, 17. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 3-I. B. PARTIAL Release of 2008 Declaration of Trust, 18. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 1-Construction License Agreement, 19. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 4-I. C. Partial Assignment of Development Agreement, 20. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 5-I. D. Assignment of Development Agreement- Arrowhead HUD RAD Subordination Agreement, 21. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 6-I. E. Amended and Restated Declaration Providing for Reciprocal Easements, 22. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 7-I. F. REA - Arrowhead HUD RAD Use Subordination Agreement, 23. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 8-I. G. Ground Lease for Arrowhead, 24. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 9-I. H. TCAC Lease Rider, 25. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 10-II. C. Arrowhead Grove RAD Use Agreement, 26. ATT-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs Attachment 11-II. D. Arrowhead Grove Delayed Conversion HAP Agreement, 27. AG_Phase II_County Template-PowerPoint, 28. R1-RES - HACSB - 080619 Arrowhead Grove Phase 2 Closing Docs CLEAN 8.2.1..pdf, 29. ATT28-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs - Right of First Refusal (002), 30. ATT29-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs - Temporary License and Construction Agreement (002), 31. ATT27-HACSB-080619 Arrowhead Grove Phase 2 Closing Docs - Purchase Option Agreement, 32. Item #6 Executed BAI, 33. Executed Resolution 2019-118
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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