REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
December 19, 2023
FROM
CARRIE HARMON, Director, Community Development and Housing Department
SUBJECT
Title
Senior Subordination Agreement and Subordination, Nondisturbance and Attornment Agreement for the Las Terrazas Project in an unincorporated area of the County near Colton
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RECOMMENDATION(S)
Recommendation
1. Approve the Senior Subordination Agreement, including non-standard terms, with AMCAL Las Terrazas Fund, L.P. and the California Department of Housing and Community Development for the Las Terrazas Project in an unincorporated area of the County near Colton.
2. Approve the Subordination, Nondisturbance and Attornment Agreement, including non-standard terms, with AMCAL Las Terrazas Fund, L.P. and the California Department of Housing and Community Development for the childcare facility at the Las Terrazas Project in an unincorporated area of the County near Colton.
3. Authorize the Chair of the Board of Supervisors, Chief Executive Officer, or Director of the Community Development and Housing Department, to execute the Senior Subordination Agreement, the Subordination, Nondisturbance and Attornment Agreement, and all required documents related to the escrow transaction for conversion of financing, and to make any necessary non-substantive modifications to conform to the escrow transaction for conversion of financing, subject to review by County Counsel.
4. Direct the Director of the Community Development and Housing Department to transmit copies of the executed Senior Subordination Agreement and the Subordination, Nondisturbance and Attornment Agreement to the Clerk of the Board of Supervisors within 30 days of full execution.
(Presenter: Carrie Harmon, Director, 382-3983)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Operate in a Fiscally-Responsible and Business-Like Manner.
Ensure Development of a Well-Planned, Balanced,...
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