Laserfiche WebLink
ATTACHMENT 1 <br /> EXHIBIT A <br /> HOME LOAN AGREEMENT <br /> THIS HOME LOAN AGREEMENT is entered into on <br /> 2023, between Tri-Valley REACH, a California non-profit public benefit corporation <br /> ("Borrower" or"REACH"), and City of Pleasanton, a municipal corporation ("City" or <br /> "Lender"). <br /> RECITALS <br /> A. REACH is the successor in interest to Housing Opportunities Utilizing Supportive <br /> Services (HOUSE, Inc.). <br /> B. Borrower has applied to Lender for a loan in the amount of Three Hundred <br /> Thousand Dollars ($300,000) ("Loan") to assist the Borrower in the construction of a <br /> new two (2) bedroom 744-square-foot detached accessory dwelling unit (ADU) <br /> ("Project") on property already owned by Borrower on which there is an existing single- <br /> family home located at 5608 Hansen Drive, Pleasanton, CA ("Property"). <br /> C. On August 15, 2023, the City Council of the City of Pleasanton approved a loan <br /> of $300,000 comprised of $241,176 in federal HOME Program funds and $58,824 from <br /> the City's Affordable Housing Fee fund to financially support the construction of Project. <br /> D. The Loan will be provided by Lender in accordance with federal laws and <br /> regulations governing the HOME Program as set forth in 42 U.S.C. 12741 et. seq. and <br /> 24 C.F.R. Part 92, as amended. <br /> E. As a condition for the Loan, the Borrower agrees that the new ADU will be <br /> occupied by Very Low-Income adults with developmental disabilities. <br /> F. The Lender will oversee the Project to ensure that it conforms with the scope of <br /> work, project budget, and project timeline, and meets applicable local and state housing <br /> and building codes, and HOME Program and Alameda County Measure Al <br /> requirements. <br /> G. The parties have completed CEQA review as the Project qualifies as a Class 3 <br /> exemption for new construction of small structures pursuant to 14 C.C.R. §15303(a). <br /> H. The parties have completed NEPA review as the Project qualifies for a <br /> categorical exclusion for individual action on up to four dwelling units under 24 C.F.R. <br /> §58.34(a)(4). The Lender has relied on such exclusion for its compliance with NEPA. <br /> NOW, THEREFORE, IN CONSIDERATION of the recitals and other mutual <br /> agreements, the Borrower and Lender agree as follows: <br /> 1. Loan Agreement. The Lender agrees to loan and Borrower agrees to borrow an <br /> 1 <br />