HomeMy WebLinkAboutR42-Economic Development
CITY OF SAN BERNARDINO
ECONOMIC DEVELOPMENT AGENCY
ORIGINAL
FROM: Emil A. Marzullo
Interim Executive Director
SUBJECT:
Joint Public Hearing - AHEPA National
Housing Corporation/AHEPA Local
Arrowbead 302 Chapter - Amendment No.2 to
the 2005 Home Funds Loan and Grant
Agreement
DATE: March 12,2009
Svnonsis of Previons Commission/Council/Committee Action(s):
On February 19,2009 and April 9, 2009, Redevelopment Committee Members Johnson, Baxter and Brinker unanimously voted
to recommend that the Community Development Commission consider this action for approval of a dollar amount equal to
$40,000.
On April 9, 2009, Redevelopment Committee Members Johnson, Baxter and Brinker unanimously voted to recommend that the
Community Development Commission consider this action for approval of an amount equal to $60,000.
Recommended Motion(s):
Open/Close Joint Public Hearing
(Mavor and Common Council)
Resolution of the Mayor and Common Council of the City of San Bernardino approving an Amendment to the
City's 2005-2010 Consolidated Plan and the 2008-2009 Action Plan allocating $60,000 in Federal HOME Grant
Funds to AHEPA National Housing Corporation - AHEPA Local Arrowhead 302 Chapter
(Communitv Develonment Commission)
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 - AHEPA Local Arrowhead 302 Chapter
Contact Person(s):
Musibau Arogundade
IVDA Redevelopment Project Area
Phone:
(909) 663-1044
Project Area(s):
Ward(s):
2"'
Supporting Data Attached:
(;') Staff Report (;') Resolution(s) (;') Agreement(s)/Contract(s) 0 Map(s) (;') Letter(s)
FUNDING REQUIREMENTS:
Amount: $
60,000
Source:
Federal HOME Funds
Budget Authority:
2008-2009 Agency Budget
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Signature: 3~ - .
Emil A. MarZUllO, n en xecutive Director
Fiscal Review:
.lieu- G'W~~~iL~
Barbara Lindseth, Administrative Services Director
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P:\Agendas\Comm Dev Commission\CDC 2009\04-20-09 AHEPA Amendment No.2 SR.doc
COMMISSION MEETING AGENDA
Meeting Date: 04/20/2009
Agenda Item Number: ~
ECONOMIC DEVELOPMENT AGENCY
STAFF REPORT
AHEPA NATIONAL HOUSING CORPORATION/AHEPA LOCAL ARROWHEAD 302
CHAPTER - AMENDMENT NO.2
TO THE 2005 HOME FUNDS LOAN AND GRANT AGREEMENT
BACKGROUND:
In November 2004, the AHEPA National Housing Corporation - AHEPA Local Arrowhead 302 Chapter
("AHEPA") was awarded a $13 million u.s. Housing and Urban Development ("HUD") 202 Supporting
Housing Program Grant ("HUD Grant") on behalf of their local AHEP A Arrowhead 302 Chapter, for the
construction and operation of a 90-unit senior housing complex ("Project") developed at 377 East Gilbert
Street, San Bernardino ("Site"). This $13 million HUD Grant was based on a preliminary Project budget
that AHEPA submitted to HUD estimating their construction, engineering, architectural and
development/building permit fees costs associated with the Project. The Project involves the construction
of a three-story, 90-unit senior housing complex on approximately 2.48 acres of land located on the Site.
Of the 90 units, 89 would be reserved for lower income seniors (minimum age of 62) at affordable rental
costs and one unit will be reserved for an on-site Property Manager. AHEP A is a non-profit corporation
founded in 1983 with the goal of improving the quality of life for the elderly disabled and presently has
more than 63 projects throughout 19 states totaling in excess of 3,400 housing units.
On December 19, 2005, the Community Development Commission of the City of San Bernardino
("Commission") approved a 2005 HOME Funds Loan and Grant Agreement ("HOME Agreement") in the
amount of $840,000 ("HOME Loan") between the Agency and AHEPA to allow AHEPA to purchase the
Site prior to release of the HUD Grant Funds. Said HOME Loan was structured as a loan to AHEP A and
to be repaid to the Agency upon release of the HUD Grant Funds. Moreover, when AHEP A repaid the
HOME Loan Funds to the Agency, the Agency subsequently granted the $840,000 to AHEPA for use to
fund certain necessary off-sites, exterior and interior amenities and upgrades to the Project. On December
18, 2006, the Commission approved Amendment No. I to the HOME Agreement by providing an
additional $362,735 in HOME Funds for an increase in the City of San Bernardino ("City") impact fees
that were not covered by the HUD approved Grant.
CURRENT ISSUE:
During construction of the Project, AHEP A was informed that storm drain fees in the amount of
$83,872.65 and $136,662.07 for sewer capacity fees and 8" sewer main reimbursement fees were not
included in the $1,202,725 fees that were paid. AHEPA paid the additional $220,543.72 as requested by
the City thus leaving a shortfall of $40,000. AHEP A initially requested $40,000 in Agency assistance to
complete the project.
On February 19,2009, the Redevelopment Committee (the "Committee") considered the request to assist
AHEPA with $40,000 in grant funds to cover the City's impact fee increase. Shortly after the
Committee's action, Agency Staff was contacted by AHEPA and informed that the fee shortfall was
$60,000 as opposed to $40,000. Agency Staff has since reviewed the Project budget and has confirmed
this final amount. Agency Staff presented this matter a second time with the $60,000 funding request to
P:V\gendas\Comm Dev Commission\CDC 2009\04-20-09 AHEPA Amendment NO.2 SRdoc
COMMISSION MEETING AGENDA
Meeting Date: 04/20/2009
Agenda Item Number: (l. "'2.
Economic Development Agency Staff Report
AHEP A Senior Housing Complex - Amendment No.2
Page 2
the Committee on April 9, 2009, and the Committee considered and supported the request to assist
AHEPA with $60,000 in grant funds to cover the City's impact fee increase.
In compliance with the Federal Consolidated Plan regulation 24 CFR 91.505., an Amendment to the
City's 2005-2010 Consolidated Plan and 2008-2009 Action Plan to reflect the additional $60,000 in the
Project amount will be prepared. In compliance with the City Citizen's Participation Plan, the required
public notice of the amendment to the Consolidated Plan was published in the San Bernardino County
Sun Newspaper of April 13, 2009 and April 20, 2009, for this Public Hearing. Agency Staff is
recommending approval of Amendment No.2 to the HOME Agreement to assist AHEP A with $60,000 in
Federal HOME Funds. The Project has been completed with Certificate of Occupancy issued by the City
and AHEPA celebrated the Project grand opening on March 5, 2009
ENVIRONMENTAL IMP ACT:
This request is exempt under the California Environmental Quality Act ("CEQA"), Public Resource Code
21080.14 actions related to the construction, conversion, or use of low-income housing projects of 100
units or less in an urban area.
FISCAL IMPACT:
The $60,000 in Federal HOME funds requested is available in the 2008-2009 Agency budget.
RECOMMENDATION:
That the Community Development Commission adopt the attached Resolution.
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Emil A. Marzullo, Interim Executive Director
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COMMISSION MEETING AGENDA
Meeting Date: 04120/2009
Agenda Item Number: ~
GEORGE S. THEIOS
ATTORNEY AT LAW
155 W. HOSPITALITY LANE, SUITE 253
SAN BERNARDINO, CALIFORNIA 92408-3318
TELEPHONE: 909-890-2314
FAX: 909-381-2566
March 13, 2009
Emil Marzullo, Director
City of San Bernardino Econ. Dev. Agency
201 N. "E" Street, Suite 301
San Bernardino, CA 92401
Attn: Musibau Arogundade, Project Manager
Re: AHEPA 302 90-Unit Senior Housing Project
Request for Additional Funding
Dear Mr. Marzullo:
Recently the President of AHEP A 302, Inc., Dr. Anthony Theodorou, and I briefly met
with Councilman Dennis Baxter and you at your office. The purpose of that meeting was
to discuss certain shortages in funding that have occurred as a result of unexpected
expenses, including permit, inspection and impact fees, that had not been included in
HUD funding and which have depleted the contingent and development funds from the
AHEP A 303 Senior Apartment Project. It was suggested that AHEP A 302, Inc. send a
letter addressing the issues and its request for additional funding for consideration. This
letter supersedes the prior letter dated January 21, 2009, due to certain changes in said
letter substantiating the need for additional funds at this time.
Originally AHEP A 302, Inc. was advised that the fees due the Development Services
Department would be $876,091.59, which it paid in early January 2008. However
thereafter, it was advised of a $43,143.65 shortage, which later was determined to be
Storm Drain Impact Fees, as indicated below. AHEP A 302, Inc was also advised that the
fees due the City Water department would be $237,055, which was paid by two checks,
as requested ($188,450 and $48,605), also in January 2008. AHEP A 302, Inc. was
thereafter advised by the Water Department ofa shortage of$136,662.07 (Sewer
Capacity Fee and 8" Main Reimbursement Fee). From January 2008 to sometime in July
2008, Musi and I attempted, on behalf of AHEP A 302, Inc., to obtain a clarification of
these additional fees.
March 13, 2009
Page 2.
This resulted in Musi's fax of 6-9-08, wherein AHEP A 302, Inc. was informed that there
was actually $83,873.65 due Development Services Department and a balance of
$136,662.07 due the City Water Department, of which $125,508.45 was for the sewer
capacity fees for the 90-units, after credit of$25,508.05 for prior use as medical office
buildings. These additional fees were based on the following:
Development Services Department:
I. #B0602868 - Building Permits and Plan Checks $ 20,030.15
2. #E0600458-LandscapePermitFees $ 5,271.00
3. #E0600457 - On-Site Improvement Insp. Fees $ 13,073.30
4. #E0600456 - Off-Site Plan Check & Insp. Fees $ 1,968.60
5. . #E0600455 - On-Site Grading Insp. & Plan Chk Fees $ 397.00
6. #IMP08002 - Storm Drain Impact Fees $ 43,133.70
Total: $ 83,872.65 $ 83,872.65
City Water Department:
I. Sewer capacity Fees
2. 8"Main Reimbursement Fees
Total
$125,508.45
$ IlJ53.62
$136,662.07 $136,662.07
$220,543.72
Following the July 2008 draw meeting, a Requisition for Disbursements was submitted to
HUD, seeking payment for the above expenses from Development Fees ($56,629) and
Contingent Fees ($147,482) in the total amount of$204,111. The difference, a sum of
$16,424, was omitted as there was uncertainty as to whether these fees should be paid by
the owner or the builder.
AHEPA 302, Inc.'s shortage is a direct result of the additional fees of$220,543.72, and
the deduction of $1 ,969 from the reimbursements paid by and due AHEP A 302, Inc. by
HUD for off site inspection and permit fees.
AHEPA 302, Inc. requests that EDA review this matter and make a determination as to
whether additional funding in the sum of $60,000 could be made available from Low and
Moderate Housing Funds to assist AHEPA 302, Inc provide for the completion of this
project.
Thank you for your cooperation in this matter and if I can provide additional information,
please do not hesitate to contact me at your convenience.
CC: Dr. Anthony Theodorou, AHEPA 302, Inc.
yours,! L
S.4Icfs'
4!tUt2JL
RESOLUTION NO.
J
TION OF THE MAYOR AND COMMON COUNCIL OF THE CITY
BERNARDINO APPROVING AN AMENDMENT TO THE CITY'S
2005-2010 CONSOLIDATED PLAN AND THE 2006-2007 ACTION PLAN
ALLOCATING $60,000 IN FEDERAL HOME GRANT FUNDS TO AHEPA
NATIONAL HOUSING CORPORATION - AHEPA LOCAL ARROWHEAD
302 CHAPTER
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WHEREAS, the City of San Bernardino (the "City") is an entitlement jurisdiction and
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annually receives certain federal funds under the HOME Investment Partnership Act (the "HOME
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Program") from the United States Department of Housing and Urban Development ("HUD"), in
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order to carry out eligible affordable housing activities within the City in accordance with the
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HOME Program Regulations set forth in Title 24 Code of Federal Regulations Part 92, et seq. (24
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CFR Part 92); and
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WHEREAS, on May 15,2008, the Mayor and Common Council approved the City's 2005-
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2010 Consolidated Plan and the 2008-2009 Action Plan; and
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WHEREAS, in compliance with the City's approved Citizens Participation Plan and
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CDBG/HOME regulation under 24 CFR 570.302 and 24 CFR 91.105, on April 13, 2009 and April
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20,2009, the required public notice of this amendment to the 2005-2010 Consolidated Plan and the
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2008-2009 Action Plan was published in the San Bernardino County Sun, inviting and requesting
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citizens to provide written and or oral comments with regards to this amendment at this meeting,
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and as of this date, Staff has not received any oral or written comments regarding this amendment.
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NOW, THEREFORE, IT IS HEREBY RESOLVED, DETERMINED AND ORDERED BY
THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO, AS
FOLLOWS:
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Section 1.
That the Mayor and Common Council hereby approve the amendment to the
2005-2010 Consolidated Plan and the 2008-2009 Action Plan of the City by allocating an
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additional amount not to exceed $60,000 in Federal HOME Program Funds to AHEPA National
Housing Corporation - AHEPA Local Arrowhead 302 Chapter subject to such agreement as may be
approved by the Community Development Commission of the City of San Bernardino.
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Section 2.
This Resolution shall take effect upon its adoption and execution in the
2 manner as required by the City Charter.
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RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO APPROVING AN AMENDMENT TO THE CITY'S
2005-2010 CONSOLIDATED PLAN AND THE 2008-2009 ACTION PLAN
ALLOCATING $60,000 IN FEDERAL HOME GRANT FUNDS TO AHEPA
NATIONAL HOUSING CORPORATION - AHEPA LOCAL ARROWHEAD
302 CHAPTER
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and
6 Common Council of the City of San Bernardino at a
meeting
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The foregoing Resolution is hereby approved this
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,2009, by the following vote to wit:
Navs
Abstain
Absent
Rachel G. Clark, City Clerk
day of
,2009.
Patrick J. Morris, Mayor
City of San Bernardino
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Approved as to Form:
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24 By:
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(NOTE: COMPANION RESOLUTION CDC/2009-12)
RESOLUTION NO. 2009-103
CQ)rPl(
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO APPROVING AN AMENDMENT TO THE CITY'S
2005-2010 CONSOLIDATED PLAN AND THE 2008-2009 ACTION PLAN
ALLOCATING $60,000 IN FEDERAL HOME GRANT FUNDS TO AHEPA
NATIONAL HOUSING CORPORATION - AHEPA LOCAL ARROWHEAD
302 CHAPTER
WHEREAS, the City of San Bernardino (the "City") is an entitlement jurisdiction and
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annually receives certain federal funds under the HOME Investment Partnership Act (the "HOME
8
Program") from the United States Department of Housing and Urban Development ("HUD"), in
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order to carry out eligible affordable housing activities within the City in accordance with the
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HOME Program Regulations set forth in Title 24 Code of Federal Regulations Part 92, et seq. (24
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CFR Part 92); and
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2010 Consolidated Plan and the 2008-2009 Action Plan; and
WHEREAS, on May 15, 2008, the Mayor and Common Council approved the City's 2005-
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WHEREAS, in compliance with the City's approved Citizens Participation Plan and
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CDBG/HOME regulation under 24 CFR 570.302 and 24 CFR 91.105, on April 13, 2009 and April
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20,2009, the required public notice of this amendment to the 2005-2010 Consolidated Plan and the
17
2008-2009 Action Plan was published in the San Bernardino County Sun, inviting and requesting
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citizens to provide written and or oral comments with regards to this amendment at this meeting,
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and as of this date, Staff has not received any oral or written comments regarding this amendment.
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NOW, THEREFORE, IT IS HEREBY RESOLVED, DETERMINED AND ORDERED BY
THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO, AS
FOLLOWS:
Section 1.
That the Mayor and Common Council hereby approve the amendment to the
2005-2010 Consolidated Plan and the 2008-2009 Action Plan of the City by allocating an
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additional amount not to exceed $60,000 in Federal HOME Program Funds to AHEPA National
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Housing Corporation - AHEPA Local Arrowhead 302 Chapter subject to such agreement as may be
approved by the Community Development Commission of the City of San Bernardino.
P:\Agendas\Resolutions\ResolutionsI2009\04_20_09 AHEPA Amendment NO.2 MCC Resodoc
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2009-103
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Section 2.
This Resolution shall take effect upon its adoption and execution in the
2 manner as required by the City Charter.
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2009-103
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO APPROVING AN AMENDMENT TO THE CITY'S
2005-2010 CONSOLIDATED PLAN AND THE 2008-2009 ACTION PLAN
ALLOCATING $60,000 IN FEDERAL HOME GRANT FUNDS TO AHEPA
NATIONAL HOUSING CORPORATION - AHEPA LOCAL ARROWHEAD
302 CHAPTER
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and
6 Common Council of the City of San Bernardino at a joint regular
meeting
7 thereof, held on the 20th day of April , 2009, by the following vote to wit:
8 Council Members: Aves Navs Abstain Absent
9 ESTRADA x
10 BAXTER --1L
11 BRINKER ----X-
12 SHORETT x
13 KELLEY x
-
14 JOHNSON x
15 MC CAMMACK --1L
()~d/.I;b.~
~CltYClerk
18 The foregoing Resolution is hereby approved this ~~ day of April
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RESOLUTION NO.
cco~~
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RESOLVTION OF THE COMMUl'\ITY DEVELOPMENT COMMISSION
OF THE CITY OF SAl'i BERNARDINO APPROVING AND
AUTHORIZING THE Il'iTERlM EXECUTIVE DIRECTOR OF THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO
("AGENCY") TO EXECUTE AMEl'iDMENT NO.2 TO THE 2005 HOME
FUNDS LOAN AND GRANT AGREEMENT BY AND BETWEEN THE
AGENCY AND AHEPA l'iATIONAL HOUSING CORPORATION -
AHEP A LOCAL ARROWHEAD 302 CHAPTER
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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
II Development (""HUD"") Section 202 Grant (""HUD GranC) for the construction and operation of a
12 90-unit senior housing facility (the "ProjecC); 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 AgreemenC) and on December 18.2006, the Commission approved Amendment No. I
16 (collectively "2005 HOME AgreemenC) 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 AHEPA
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 AHEPA to provide an additional $60.000 in Federal HOME
23 funds to pay the increased amount of City development impact fees.
24 NOW, THEREFORE. THE COMMUN1TY DEVELOPMENT COMMISSION OF THE CITY
25 OF SA1\! BERNARDINO DOES HEREBY RESOLVE, DETERJvIINE AND ORDER, AS FOLLOWS:
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Section 1.
The Commission authorizes an additional appropriation in an amount not to
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
P'"'f:endJSResolutionsResolullons'::OO'l 04.:'o.no AHEP,'\ Amendment S" ~ CDC R~,o JC<:
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.
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION
OF THE CITY OF SAN BERNARDINO APPROVING AND
AUTHORIZING THE INTERIM EXECUTIVE DIRECTOR OF THE
REDEVELOPME1'T 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
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I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Community
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Development Commission of the City of San Bernardino at a
meeting
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thereof. held on the day of
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Commission Members: Aves
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ESTRADA
11 BAXTER
12 BRINKER
13 SHORETT
14 KELLEY
15 JOHNSON
16 MC CAMMACK
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, 2009, by the following vote to wit:
Absent
Abstain
Navs
Secretary
20 The foregoing Resolution is hereby approved this
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,2009.
day of
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Patrick J. Morris, Chairperson
Community Development Commission
of the City of San Bernardino
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2- Approved as to Form:
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Agenc ~ns
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By:
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1\ ?, "-\~endas'ResolU1lOns'Resoll.lllQns'::Q09 ().<_:O.09 AHEPA Amendment So :z CDC Reso OOC
AMENDMENT NO.2
TO THE
2005 HOME FUNDS LOAN AND GRAl\"T AGREEMENT
BY AND BETWEEN
THE REDEVELOPMEl'iT AGENCY OF THE CITY OF SAN BERNARDINO
AND
AHEPA NATIONAL HOUSING CORPORUION-
AHEP A LOCAL ARROWHEAD 302 CHAPTER
This Amendment No. 2 to the 2005 HOME Funds Loan and Grant Agreement (this
"Amendment No. T) 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 AHEPA National
Housing Corporation - AHEPA 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:
-RECIT ALS-
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 $ILl 99.300 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. I 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 CONSIDERA nON OF THE MUTUAL COVENANTS AND
CONDITIONS CONTAINED HEREIN, THE AGENCY AND THE DEVELOPER AGREE AS
FOLLOWS:
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P Agendas' ">genda AnachmcntsAgcnda AnachmcnuAgcnda AnacnmemsAgnms-Amcnd ~OQq 04-~(l-(1Q .W.EPA - Amendment;->Q ~ 10 HO\fE Agrecmen: doc
Section 1. References to the HOME Agreement; 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 lener. 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 A!!:reement. (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 afterthe 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
S; 11.199,300
$ 1.242.735
S; 12,442,035
(c) The term "Agency Grant" as defined and as used in the HOME Agreement shall be in an
amount equal to $1,242,735 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.
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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 \\Tillen abO\e.
AGENCY
Redevelopment Agency of the City of San Bernardino.
a public body. corporate and politic
Dated:
By:
Emil A. Marzullo. Interim Executive Director
Approved as to Form and Legal Content:
By:
v~d,yU
Agency Couns(:J
DEVELOPER
AHEP A National Housing Corporation - AHEP A Local
Arrowhead 302 Chapter. a California non-profit
corporation
Dated:
By:
Title
3
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