To: Board of Supervisors
From: DHHS: Administration
Agenda Section: Consent
SUBJECT:
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Master Lease Agreement by and between County of Humboldt and Samoa Vance Ave, LP
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RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Approve, and authorize the Director of the Department of Health and Human Services (DHHS) to execute, the attached master lease agreement and subordination, non-disturbance and attornment agreement with Samoa Vance, LP regarding DHHS's leasing of twenty (20) units for DHHS-selected tenants.
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SOURCE OF FUNDING:
Social Services Fund
DISCUSSION:
DHHS and Danco Communities have collaborated on a project that offers affordable housing units for families who are homeless or at-risk of homelessness. The Samoa Coast Townhomes (the "Project") located at Vance Avenue south of Cutten Street, Samoa, is a multifamily eighty (80) unit complex for low-income tenants built by Samoa Vance Ave, LP, part of Danco Communities.
The proposed master lease agreement (attachment 1) sets forth the conditions under which Samoa Vance Ave, LP will master lease twenty (20) rental units in the Project to DHHS for lease to tenants designated by DHHS. Samoa Vance Ave, LP has received an allocation of low-income housing tax credits for the Project and intends for the project to qualify as a "low income housing project" under Section 42 of the Internal Revenue Code. The requirements for the project under Section 42 of the Internal Revenue Code and the California Tax Credit Allocation Committee Regulatory Agreement are collectively referred to as the "LIHTC Requirements." DHHS reserves the use of 20 units for DHHS clients. DHHS selects and places homeless households who meet the LIHTC requirements set forth in the master lease agreement.
The initial term of this Lease shall be for a period of Twenty (20) years, commencing upon receiving a Certificate of Occupancy and full access to the rental unit. Leases will be in the client's ...
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