Title
a. Approve amendments to loan documents between the County and South County Housing Corporation to reassign additional Community Development Block Grant Funds to the Camphora Highlands Farm Labor Camp project; and
b. Authorize the Director of Economic Development to make minor modifications to the loan documents as necessary and sign them as well as any other documents necessary to implement the amendment.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Approve amendments to loan documents between the County and South County Housing Corporation to reassign additional Community Development Block Grant Funds to the Camphora Highlands Farm Labor Camp project; and
b. Authorize the Director of Economic Development to make minor modifications to the loan documents as necessary and sign them as well as any other documents necessary to implement the amendment.
SUMMARY:
This action will increase the amount of the County's Community Development Block Grant (CDBG) loan to South County Housing (SCH) for the acquisition and rehabilitation of the Camphora Highlands Farm Labor Camp (the Camphora Highlands project) by $34,580, from $925,000 to $959,580. The increase is a re-direction of CDBG funds made necessary by the California Department of Housing and Community Development (HCD)'s error in awarding the County a Planning and Technical Assistance Grant (PTAG) from CDBG funds to implement a different project. HCD subsequently determined that CDBG funds may not be used to fund the PTAG. HCD has approved the reassignment of the PTAG funds to the loan for the Camphora Highlands project which will assist in closing a funding gap for the project.
DISCUSSION:
On December 20, 2012, HCD approved a grant of $1,036,400 for the County. The grant was awarded to fund two projects: acquisition and rehabilitation of the Camphora Highlands Labor Camp and a Regional Cut Flower Shipping Consolidation Study (Flower Study). In March 2012, the ...
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