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Home My WebLink AboutCDC/2009-12 (NOTE: COMPANION RESOLUTION TO 2009-103) 1 2 3 4 5 6 7 RESOLUTION NO. CDC/2009-12 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO APPROVING AND AUTHORIZING THE INTERIM EXECUTIVE DIRECTOR OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO ("AGENCY") TO EXECUTE AMENDMENT NO.2 TO THE 2005 HOME FUNDS LOAN AND GRANT AGREEMENT BY AND BETWEEN THE AGENCY AND AHEPA NATIONAL HOUSING CORPORATION - AHEP A LOCAL ARROWHEAD 302 CHAPTER 8 WHEREAS, AHEPA National Housing Corporation - AHEPA Local Arrowhead 302 9 Chapter ("AHEP A") is a national and locally certified, approved and experienced non-profit 10 housing organization that obtained approval from the U.S. Department of Housing and Urban 11 Development ("HUD") Section 202 Grant ("HUD Grant") for the construction and operation of a 12 90-unit senior housing facility (the "Project"); and 13 WHEREAS, on December 19, 2005, the Community Development Commission of the City 14 of San Bernardino ("Commission") approved the 2005 HOME Funds Loan and Grant Agreement 15 ("HOME Agreement") and on December 18,2006, the Commission approved Amendment No. I 16 (collectively "2005 HOME Agreement") between the Redevelopment Agency of the City of San 17 Bernardino ("Agency") and AHEP A; and 18 WHEREAS, the Agency deems that the senior housing development undertaken by AHEP A 19 herein is consistent with and supportive of the Agency's Housing Program and HOME Program 20 Regulations; and 21 WHEREAS, the Agency deems it desirable to enter into this Amendment to the 2005 HOME 22 Agreement ("Amendment No.2") with AHEP A to provide an additional $60,000 in Federal HOME 23 funds to pay the increased amount of City development impact fees. 24 NOW, THEREFClJRE, THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY 25 OF SAN BERNARDINO DOES HEREBY RESOLVE, DETERMINE AND ORDER, AS FOLLOWS: The Commission authorizes an additional appropriation in an amount not to 26 Section 1. 27 exceed $60,000 from the Federal HOME Funds budgeted in the Agency's fiscal year 2008-2009 28 budget for AHEP A and the Interim Executive Director of the Agency or designee, are authorized to I P:\AgendaslResolutionslRe,nlurions\2009'..o4-20--09 AHEPA Amendment No 2 CDC Reso doc CDC/2009-12 1 execute Amendment No.2 and execute any such other documents as may be necessary to implement 2 the 2005 HOME Agreement and Amendment No.2 and to make any necessary non-substantive 3 changes as may be approved by Agency Counsel, provided such changes do not increase the 4 Agency's financial contribution to the Project. The Resolution shall become effective immediately upon its adoption. 2 P:\Agenda,\Re,olutionslResolution.\1009\04-20-09 AHEPA Amendment :-lo. 2 CDC Reso.doc CDC/2009-12 1 2 3 4 5 6 7 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO APPROVING AND AUTHORIZING THE INTERIM EXECUTIVE DIRECTOR OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO ("AGENCY") TO EXECUTE AMENDMENT NO.2 TO THE 2005 HOME FUNDS LOAN AND GRANT AGREEMENT BY AND BETWEEN THE AGENCY AND AHEPA NATIONAL HOUSING CORPORATION - AHEP A LOCAL ARROWHEAD 302 CHAPTER I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Community Development Commission of the City of San Bernardino at a ;oint regular meeting 8 thereof, held on the 20th day of April ,2009, by the following vote to wit: 9 Commission Members: Aves Navs Abstain Absent 10 ESTRADA X 11 BAXTER --'L 12 BRINKER X 13 SHORETT X 14 KELLEY X 15 JOHNSON X 16 MC CAMMACK ----L- 17 f!L~~~ 18 - Secretary 19 20 The foregoing Resolution is hereby approved this dl~day of April 21 22 ,2009. > 23 24 P trick J'Morris, Chal n Co ity Development Commission of the City of San Bernardino 25 Approved as to Form: ~: By: \:ie~s~ 28 3 P:\Agenda,\Resolutions\Resolutions\2009104-20-09 AIIEPA Amendment No.2 CDC Reso.doc , - CDC/2009-12 AMENDMENT NO.2 TO THE 2005 HOME FUNDS LOAN AND GRANT AGREEMENT BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO AND AHEPA NATIONAL HOUSING CORPORATION- AHEP A LOCAL ARROWHEAD 302 CHAPTER This Amendment No. 2 to the 2005 HOME Funds Loan and Grant Agreement (this "Amendment No.2") is entered into on April 20, 2009, by and between the Redevelopment Agency of the City of San Bernardino (the "Agency"), a public body, corporate and politic, and AHEP A National Housing Corporation - AHEP A Local Arrowhead 302 Chapter, a California nonprofit corporation (the "Developer"), and is entered into in consideration of the facts set forth in the following Recital paragraphs: -RECITALS- A. The Developer and the Agency have previously entered into an agreement entitled "2005 HOME Funds Loan and Grant Agreement", dated as of December 19,2005 and Amendment No. I dated December 18,2006, collectively (the "HOME Agreement"). B. As of the effective date of this Amendment No.2, the Developer received from the United States Department of Housing and Urban Development ("HUD") Section 202 Capital Advance Program Funding for the Project in the amount of $11,199,300 and a five (5) year rental subsidy of $1,884,000. C The Agency is desirous of assisting the Developer in the construction of the Project and has previously provided $840,000 in HOME Loan pursuant to the HOME Agreement for the acquisition of the Site with the loan repayment amounts then being utilized to provide certain additional grant funds for design upgrades, off-site improvements and exterior amenities upgrades. However, due to increases in the City of San Bernardino development impact fees applicable to the Project, the Developer requested and was granted additional assistance of $362,735 amount under Amendment No. 1 and the Agency seeks to assist the Developer and provide $60,000 in additional Federal HOME Funds under this Amendment No.2, to cover the increase in City's development and impact fees. D. The Agency has determined that the development of the Site pursuant to the HOME Agreement and this Amendment No.2 and the fulfillment generally of the purposes of the HOME Agreement are in the vital and best interests of the City and the Agency. NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS AND CONDITIONS CONTAINED HEREIN, THE AGENCY AND THE DEVELOPER AGREE AS FOLLOWS: 1 P:\Agendas\Agenda Allachments\Agenda Allachme-nts\Agenda Attachments\Agrmts-Amend 2009\04_20_09 AHEPA - Amendment No. 210 HO\fE Agreement.doc , CDCI 2009-12 Section 1. References to the HOME Al!reement: Defined Terms. (a) Unless the context of the usage of a term or phrase in this Amendment No.2 may otherwise require, the meaning of words and phrases as contained in this Amendment No.2, which are indicated by an initially capitalized letter, shall be the same as set forth in the HOME Agreement. (b) The information contained in the Recitals as set forth in this Amendment No.2 is true and correct in all respects. Section 2. Specific Amendments to the 2005 Al!Teement. (a) The HOME Agreement is hereby amended by this Amendment No.2 in the manner as indicated in this Section 2 and which changes and amendments shall be effective from and after the date of approval of this Amendment No. 2 by the Developer and the Agency and execution hereof by the parties. (b) Section 402 of the HOME Agreement is hereby amended by substituting the following chart in place of that as is presently provided in the HOME Agreement: Construction and Permanent Financing: Amount of Section 202 Capital Advance Amount of Agency HOME Grant Total Development Cost $11,199,300 $ 1.262.735 $12,462,035 (c) The term "Agency Grant" as defined and as used in the HOME Agreement shall be in an amount equal to $1,262,735 pursuant to this Amendment No.2. (d) Section 404 of the HOME Agreement is amended by adding the word "City fees" into the penultimate sentence of said Section. Section 3. Effect of Amendment No.2. Except as modified or amended by this Amendment No.2, all of the provisions of the HOME Agreement shall remain in full force and effect following the effective date of this Amendment No.2. III III III III III III III III III III 2 Pc\Agcndas\Agcnda Auachments\Agenda Altachrnent,lAgcnda Auachment;\Agrmts-Amcnd 2009\04-20-09 AHEPA - Amendment No.2 to HOME Agreemenl.doc CDC/2009-12 IN WITNESS WHEREOF, the parties hereto have accepted and made and executed this Amendment No.2 upon the terms and conditions and with the provisions s set forth above and as of the date first written above. Dated; 0~S:'(Yf AGENCY Redevelopment Agency of the City of San Bernardino, a public body, corporate and politic By: 7f. ~... Emil A. Marzullo, Intenm Executive Director Approved as to Form and Legal Content; By: v~d(11 Agency counstJ Dated; 5( 1/C9 DEVELOPER AHEP A National Housing Corporation - AHEP A Local Arrowhead 302 Chapter, a California non-profit ::""'~~& uJ fN,~ Title rli.e~(17~ \1~817 ~zI""c.. , 3 P:\Agendas\Agenda Attachment,lAgend. Allachment,\Agenda Attachments\Agrmts-Arnend 2009\04-20-09 AHEPA - Amendment No.2 to HOME Agreement.doc