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File #: 3254   
Type: Consent Status: Passed
File created: 11/9/2020 Department: Community Development and Housing Department
On agenda: 11/17/2020 Final action: 11/17/2020
Subject: Approve Amendment to Land Disposition, Development and Loan Agreement and HOME Investment Partnership Act Loan Agreement with AMCAL Las Terrazas Fund, L.P. for the Las Terrazas Affordable Housing Project
Attachments: 1. ATT-CDH-11.17.20-Las Terrazas-HOME Promissory Note_11.9.20, 2. ATT-CDH-11.17.20-Las Terrazas-HOME Loan Agreement_11.9.20, 3. ATT-CDH-11.17.20-Las Terrazas-HOME LeasholdDeed of Trust with Assignment of Rents and Security Agreement_11.9.20, 4. ATT-CDH-11.17.20-Las Terrazas-HOME Leasehold Deed of Trust with Assignment of Rents and Security_11.9.20, 5. ATT-CDH-11.17.20-Las Terrazas-HOME Housing (Ground) Lease_11.9.20, 6. ATT-CDH-11.17.20-Las Terrazas-DDLA-First Amended and Restated DDA_11.9.20, 7. ATT-CDH-11.17.20-Las Terrazas_Memorandum of Ground Lease_11.9.20, 8. ATT-CDH-11.17.20-Las Terrazas_Memorandum of Disposition and Development and Loan Agreement_11.9.20, 9. ATT-11.17.20-Las Terrazas_NSP_Full Termination and Full Realease of Loan Agreements_11.9.20, 10. ATT-11.17.20-Las Terrazas_NSP_Full Termination and Full Realease of Affordability Covenant_11.9.20, 11. ATT-11.17.20-Las Terrazas_NSP_Full Reconveyance of Deed of Trust_11.9.20, 12. ATT-CDH-11.17.20-Las Terrazas-HOME Regulatory Agreement_11.9.20, 13. ATT-CDH-11.17.20-Las Terrazas-HOME Regulatory Agreement and Declatration of Restrictive Covenants_11.9.20, 14. RES-CDH-11.17-20.LAS TERRAZAS_11.4.pdf, 15. ATT-CDH-11.17.20-NPLH Standard Agreement-Las Terrazas-No. 4_11.13.20f, 16. CON-CDH-11.17.20_NPLH Cover Sheet_Las Terrazas_11.13.20f, 17. CON-CDH-11.17.20_DDLA Cover Sheet_11.4.pdf, 18. CON-CDH-11.17.20-Non-Standard_Contract_Coversheet_Las Terrazas NPLH Agreement_11.13.pdf, 19. Item #36 Executed BAI, 20. 2020-196 Executed Resolution, 21. 20-04-A-1 Executed Contract, 22. Executed Housing Ground Lease, 23. Executed Memorandum of Ground Lease, 24. Executed Regulatory Agreement, 25. Executed Memorandum of DDA, 26. Executed Full Release of NSP Affordable Covenant, 27. Executed Full Reconveyance off Deed of Trust, 28. Executed Full Termination and Full Release of NSP Loan Agreement, 29. 20-1081 Executed Contract, 30. Executed HOME Regulatory Agreement, 31. 20-1082 Executed Contract
REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF THE COUNTY OF SAN BERNARDINO
AND RECORD OF ACTION

November 17, 2020

FROM
GARY HALLEN, Director, Community Development and Housing

SUBJECT
Title
Approve Amendment to Land Disposition, Development and Loan Agreement and HOME Investment Partnership Act Loan Agreement with AMCAL Las Terrazas Fund, L.P. for the Las Terrazas Affordable Housing Project
End

RECOMMENDATION(S)
Recommendation
1. Approve First Amendment to the Amended and Restated Land Disposition, Development and Loan Agreement No. 20-04 not to exceed $1,953,289 for a combined total of $4,995,289 and extend the term of the Ground Lease and Regulatory Agreement from 57 to 85 years.
2. Approve a HOME Investment Partnerships Program Loan Agreement not to exceed $9,179,552 with AMCAL Las Terrazas Fund, L.P. to construct 112 affordable housing units.
3. Authorize the Chairman of the Board of Supervisors or the Chief Executive Officer, upon consultation with County Counsel, to execute any and all documents necessary to terminate, release and reconvey preexisting loan documents associated with the Neighborhood Stabilization Program Loan from and after the adoption of the First Amendment to Amended and Restated Land Disposition, Development and Loan Agreement and documents attached thereto.
4. Approve a Resolution authorizing the Chairman of the Board of Supervisors or the County Chief Executive Officer, upon consultation with County Counsel, in connection with the No Place Like Home Noncompetitive Allocation award, and to enter into, execute, and deliver a State of California Standard Agreement ("Standard Agreement") and approve and execute all ancillary documents pertaining to the No Place Like Home Program funds, and repealing and superseding Resolution No. 2019-180.
5. Authorize the Chairman of the Board of Supervisors or the County Chief Executive Officer, upon consultation with County Counsel, to make any necessary non-substantive m...

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