RESOLUTION NO. _____________

BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA

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RESOLUTION AUTHORIZING THE EXECUTION OF AN AGREEMENT WITH THE SAN MATEO ROTARY FLORITAS ASSOCIATES, L.P., FOR ASSISTANCE IN PROPERTY ACQUISITION FOR THE CONSTRUCTION OF ROTARY FLORITAS SENIOR HOUSING, AND AUTHORIZING THE DIRECTOR OF THE HUMAN SERVICES AGENCY TO EXECUTE SUBSEQUENT AMENDMENTS AND MINOR MODIFICATIONS NOT TO EXCEED $25,000 PER FUNDING SOURCE

RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that

WHEREAS, the Rotary Club, a service provider, and Mid-Peninsula Housing Coalition, an affordable housing developer, each has formed nonprofits, respectively known as Rotary Haciendas, Inc., and Mid-Peninsula Coastside, Inc.; and

WHEREAS, the above-referenced nonprofits have joined as co-general partners in a limited partnership known as the San Mateo Rotary Floritas Associates, L.P. ("Contractor") to construct Rotary Floritas, which consists of 50 units of affordable senior housing located at Flores Street and 27^th Avenue, San Mateo ("Project"); and

WHEREAS, the total Project costs are currently estimated at $11.9 million; and

WHEREAS, the Project has been approved for low-income housing tax credits and has further received a funding commitment from the City of San Mateo of up to $3 million; and

WHEREAS, Contractor has applied for County funds to assist in the acquisition of the property; and

WHEREAS, on May 6, 2003, the Board of Supervisors approved the CDBG, ESG, and HOME Action Plan for FY 2003-04, which included $400,000 of HOME funds for this activity.

NOW THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that the President of this Board of Supervisors is hereby authorized and directed to execute said Agreement for and on behalf of the County of San Mateo; and the Clerk of this Board shall attest the President's signature thereto.

BE IT FURTHER RESOLVED, that the Director of the Human Services Agency shall be authorized to execute subsequent amendments and modifications to this Agreement during the term of the Agreement, provided however, that such authority is limited to (a) reducing or increasing the County's maximum fiscal obligation in the event that there is a commensurate reduction or increase in funding received by the County, provided, however, that such increases shall be limited to a total of $25,000 per funding source; and (b) making changes in the types of services and activities provided by San Mateo Rotary Floritas Associates L.P., provided that the changes have no impact on the County's maximum fiscal obligation to San Mateo Rotary Floritas Associates L.P.

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