File #: 21-954    Version: 1 Name:
Type: Action Item Status: Agenda Ready
File created: 9/20/2021 In control: BOARD OF SUPERVISORS
On agenda: 9/28/2021 Final action:
Title: 10:15 A.M. - (Sitting as the Lake County Housing Commission, Board of Housing Commissioners), (a) Consideration of Rural Communities Housing Development Corporation Request to Divest Security and Previous Development Interest in Real Property; and (b) Consideration of Agreement to Develop Affordable Housing (6853 Collier Avenue, Nice, California)
Sponsors: Administrative Office
Attachments: 1. Collier Exhibit A_ Legal Description, 2. Collier Exhibit B_Reso, 3. Collier Exhibit C Reso 2021-38_Collier_Admin, 4. Collier Avenue Exhibit D 2004 DOT Substitution of Trustee and Full Reconveyance - Nice Collier Avenue, 5. Collier Avenue Exhibit E Substitution of Trustee and Full Reconveyance, 6. Collier Exhibit F Termination Owner Participation Agreement, 7. Collier Exhibit G Release and Termination of Affordable Housing Covenant, 8. Collier Avenue Exhibit H Cancellation of Notes - Collier Ave, 9. Collier Avenue Agreement to Develop Affordable Housing - signed (002)
Memorandum


Date: September 28, 2021

To: The Honorable Lake County Board of Supervisors

From: Carol J. Huchingson, County Administrative Officer

Subject: (Sitting as the Lake County Housing Commission, Board of Housing Commissioners), (a) Consideration of Rural Communities Housing Development Corporation Request to Divest Security and Previous Development Interest in Real Property; and (b) Consideration of Agreement to Develop Affordable Housing (6853 Collier Avenue, Nice, California)

Executive Summary:
On April 6, 2021, sitting as the Lake County Housing Commission, your Board adopted Resolution 2021-38 confirming the prior transfer from the former Lake County Redevelopment Agency to the Lake County Housing Authority of certain real property liens, and authorized Chair to sign an assignment for each deed of trust to reflect that transfer.

In addition, on April 6, 2021, your Board authorized the County Administrative Officer or designee to draft a new Agreement for the Lake County Housing Commission to development Affordable Housing at 6853 Collier Avenue, Nice, California (APN: 031-053-220-000) and the associated legal instruments required to divest Lake County's security interest and pre-existing development restrictions of said real property.

The proposed Agreement replaces the Owner Participation Agreement, Affordable Housing Covenant and it also includes the legal instruments required to grant and convey deeds of trust and formally cancel and "forgive" the Lake County Rural Development Agency loans.

Rural Communities Housing Development Corporation obligations include:

? Execute the Termination Documents, and to the extent applicable, cause the recordation of the Termination Documents against the Property in the Official Records.

? Enter into an agreement(s) with Behavioral Health Services (BH) to access funding from California Department of Housing, the California Housing Finance Agency, and any other applicable agencies to develop the Pr...

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