Legislation Details

File #: SR 26-0265   
Type: Resolution Status: Consent Calendar
Department: Housing and Community Services
Meeting Date: 5/19/2026
Legislative Title: Resolution approving a Loan Agreement for the Home Investment Partnership Program (HOME) (Loan Agreement Number 23-HOME-16301) in furtherance of the development of the Penn Valley Lone Oak Phase II Senior Apartment Project, in the total amount of $11,041,628, authorizing the Director of the Health and Human Services Agency and/or the Director of Housing and Community Services or his/her designee(s) to sign the agreements, and directing the Auditor-Controller to amend the Housing and Community Services budget for fiscal year 2025/26. (4/5 affirmative vote required)
Attachments: 1. Staff Report - Lone Oak II HOME Loan Agreement, 2. Resolution - Lone Oak II HOME Loan Agreement, 3. Exhibit 1. Loan Agreement - Lone Oak Senior II HOME, 4. Exhibit 1.F. Senior Regulatory Agreement - Lone Oak Senior II HOME, 5. Exhibit 1.H. Replacement Reserve Agreement - Lone Oaks Senior II HOME, 6. Exhibit 1.J. Promissory Note - Lone Oak Senior II HOME, 7. Exhibit 1. Page 58. Lone Oak II, Penn Valley Preliminary Schedule, 8. Exhibit 1.G. Junior Regulatory Agreement - Lone Oak Senior II HOME, 9. Exhibit 1.I. Deed of Trust - Lone Oak Senior II HOME, 10. Exhibit 2. Loan Commitment Agreement-Lone Oak Senior II HOME
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Title

Resolution approving a Loan Agreement for the Home Investment Partnership Program (HOME) (Loan Agreement Number 23-HOME-16301) in furtherance of the development of the Penn Valley Lone Oak Phase II Senior Apartment Project, in the total amount of $11,041,628, authorizing the Director of the Health and Human Services Agency and/or the Director of Housing and Community Services or his/her designee(s) to sign the agreements, and directing the Auditor-Controller to amend the Housing and Community Services budget for fiscal year 2025/26. (4/5 affirmative vote required)