RESOLUTION NO. _____________

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

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RESOLUTION AUTHORIZING EXECUTION OF AN AMENDMENT TO THE AGREEMENT WITH BAY ROAD HOUSING LIMITED PARTNERSHIP TO ASSIST WITH DEVELOPMENT OF 77 AFFORDABLE RENTAL HOUSING UNITS IN EAST PALO ALTO, AND AUTHORIZING THE DIRECTOR OF THE HUMAN SERVICES AGENCY TO EXECUTE SUBSEQUENT AMENDMENTS AND MINOR MODIFICATIONS NOT EXCEEDING $25,000 PER FUNDING SOURCE, AND TO MAKE MINOR CHANGES IN THE TYPES OF SERVICES PROVIDED BY BAY ROAD HOUSING LIMITED PARTNERSHIP, UNDER THE AGREEMENT

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

 

WHEREAS, for FY 2003-04, Community Housing Developers, a nonprofit housing development organization, had originally requested $2 million of funding under the Community Development Block Grant (“CDBG”) and HOME Investment Partnerships (“HOME”) Programs for the development of the Courtyard at Bay Road, a 77-unit family project in East Palo Alto (“Project”); and

 

WHEREAS, Community Housing Developers is the nonprofit general partner of Bay Road Housing Limited Partnership (“Contractor”), set up specifically for this Project to take advantage of low income housing tax credits, for which Project has been approved; and

 

WHEREAS, due to limited housing development funding, the County had approved only $1 million for the Project in October 2003, by Resolution Number 66327 (“Agreement”); and

 

WHEREAS, Contractor, along with the City of East Palo Alto, jointly have requested another $1 million from the County’s FY 2004-05 Housing Reserve Fund, established specifically to fund housing requests outside the County’s annual HOME and CDBG funding cycle; and

 

WHEREAS, both parties now wish to amend the Agreement, to: 1) increase the Agreement amount for the Project by $1 million dollars for a total obligation of $2 million, for the term of 11/01/2003 through 12/31/2034; and 2) clarify certain terms and conditions of County CDBG and HOME funding; and

 

WHEREAS, there has been presented to this Board of Supervisors for its consideration and acceptance, a First Amendment to the Agreement between the County of San Mateo and Bay Road Housing Limited Partnership, reference to which is hereby made for further particulars, and the Board of Supervisors has examined and approved the same as to form and content and desires to enter into the same; and

 

NOW THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that the President of this Board of Supervisors be, and is hereby authorized and directed to execute said Amendment 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 minor modifications not exceeding $25,000 per funding source, and to make minor changes in the types of services provided by Bay Road Housing Limited Partnership, under the Agreement.

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