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HomeMy WebLinkAbout2011-12-13; City Council; 20764; AMENDMENT BLOCK GRANT PROGRAM ACTION PLANCITY OF CARLSBAD - AGENDA BILL 11 AB# 20,764 AMENDMENT TO 2011-2012 COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM ACTION PLAN DEPT. DlRECJO^^\^^J^ MTG. 12/13/11 AMENDMENT TO 2011-2012 COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM ACTION PLAN CITY ATTY. DEPT. HNS AMENDMENT TO 2011-2012 COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM ACTION PLAN CITY MGR. lU 1 RECOMMENDED ACTION: Adopt City Council Resolution No. ?ni 1-288 authorizing the submittal of an amendment to the City's 2011-2012 Community Development Block Grant (CDBG) Program Action Plan to allow for the allocation of program Income received in 2011. ITEM EXPLANATION: The U.S. Department of Housing and Urban Development (HUD) requires the preparation of an annual CDBG Program Action Plan to describe how those federal funds will be used. Any substantial changes to the plan requires that an Amended Action Plan be submitted to HUD after completion of a public hearing and review process. The City must amend its 2011-2012 Action Plan to allow for the expenditure of $1,847,906 in CDBG Program Income received earlier this year as a result of a loan refinancing by Bridge Housing for the Villa Loma Apartments property. The refinancing resulted in funding proceeds substantial enough to remit full payment for accrued lease payments and related interest charges for said property. Because the Villa Loma property was acquired with CDBG funds, the lease payments are considered to be program income and must be used for CDBG-ellgible programs and/or projects. The noted payment was much more substantial than the normal lease payment received each year. And, because it was unexpected, it was not considered in the original CDBG funding plan for Program Year 2011-12. Therefore, it is necessary at this time for the City to amend its funding plan and identify eligible programs and/or projects that are ready to initiate within a few months. In order to comply with CDBG Program expenditure requirements, the program income will need to be expended by April, 2012. Due to the short timeframe for which the funds must be expended, Staff concentrated on identifying potential properties for the City to acquire for affordable housing opportunities or other purposes to benefit low income households. City acquisitions are typically the quickest method for expending CDBG funds. Staff was not successful in identifying an appropriate site for a city-initiated project. Subsequently, staff notified all recent applicants for CDBG funds of the potential availability of the funds to determine if any of them had plans for property acquisition which could be completed prior to April. The City received proposals from North County Health Services and Interfaith Community Services for use of the funds. DEPARTMENT CONTACT: Frank Boensch 760-434-2818 frank.boensch(5)carlsbadca.gov FOR CITY CLERKS USE ONLY. COUNCIL ACTION: APPROVED CONTINUED TO DATE SPECIFIC • DENIED • CONTINUED TO DATE UNKNOWN • WITHDRAWN • RETURNED TO STAFF • AMENDED • COUNCIL RECEIVED THE • REPORT/PRESENTATION OTHER-SEE MINUTES • Page 2 North Countv Health Services Request (Exhibit 3) North County Health Services (NCHS) has operated a small health center at 3050 Madison Street in Carlsbad since 1999. The health center originally provided services for entire families, but has had to transition to a pediatric only health center due to lack of space because the number of clients using the center has greatly expanded over the years. The organization has also had to lease office space across the street to replace space formerly used for administrative purposes that is now used for examination areas. NCHS has identified larger medical office space available for sale located at 1295 Carlsbad Village Drive and is requesting that up to $1,186,000 in program income be allocated for acquiring that property. The actual acquisition cost may be lower depending on the appraised value of the property. HUD requires payment of fair market value when using federal funds for acquisition unless findings can be made to justify a different purchase price. Interfaith Community Services Request (Exhibit 4) Interfaith Community Services (ICS) has leased a facility at 2195 Oceanside Boulevard since 2004 to serve as its Coastal Service Center. The Coastal Service Center provides social services to lower income households from throughout the North County coastal area. ICS has an opportunity to acquire the property through bankruptcy proceedings. Acquisition of the property will ensure that operation of the facility will continue in the current location. ICS conservatively estimates that 7 percent of those seeking services at the Coastal Service Center are Carlsbad residents. They are requesting that the City provide $84,000 to assist in the acquisition, which is 7 percent of the $1.2 million proposed purchase price. The two requests above would require $1,270,000 of the available funding. There remains $577,906 available for one or more additional projects. Recently, staff was made aware of a need by Catholic Charities for additional funding for their homeless farm worker shelter project. In addition, another potential affordable housing project has been proposed in Carlsbad which will require funding for property acquisition by a non-profit housing corporation. Below is a description of those programs. Catholic Charities Request (Exhibit 5) The City has allocated $2 million in Agriculture Conversion Mitigation Fee Program funds for the rebuilding of the existing La Posada de Guadalupe homeless shelter to accommodate additional homeless farm workers (50 bed shelter to 100 bed shelter). The City Council has also allocated $361,583 in CDBG funds for predevelopment activities related to the project. Approximately $144,000 of that has been spent on those activities, leaving approximately $217,000 In CDBG funds available to pay for remaining predevelopment activities or development fees. Recently, Catholic Charities indicated to the City that they require additional funds due to some unexpected development costs and fees. It is estimated that Catholic Charities may require up to an additional $300,000 to completely fund this project. The City has received the attached request from Catholic Charities for that amount to complete the project funding, and to pay all required fees. CDBG Program Income may be used for the purpose set forth in the Catholic Charities request. Page 3 Affordable Housing Request City staff has recently been involved in discussions with private affordable housing developers which may lead to the acquisition and rehabilitation of existing property in Carlsbad. Staff is recommending that the amendment to the Action Plan indicate that any remaining program income, that which is not allocated to the other projects described above, be allocated to acquisition of property for affordable housing as to be defined by the City. Actual agreements for appropriation of funds for acquisition of the property would be fonwarded to the City Council for approval at a later date. If the above projects are approved for funding at the amounts noted, there will be approximately $277,900 or more remaining for an affordable housing project. FISCAL IMPACT: The City of Carlsbad has received CDBG Program Income of $1,847,906 from Bridge Housing for accrued lease payments and related interest charges for the Villa Loma Apartments property. Use of these funds needs to be expedited to ensure that the City can meet federal expenditure requirements in 2012. Noncompliance of that requirement may result in the loss of future CDBG funds. Grant agreements for use of the funds will not be executed until HUD approves the City's amendment to the 2011-2012 Action Plan. The CDBG Program has no impact on the General Fund. ENVIRONMENTAL IMPACT: Pursuant to Public Resources Code Section 21065, approval of the submittal of an amendment to the 2011-2012 Action Plan, does not constitute a "project" within the meaning of CEQA in that it has no potential to cause either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment, and therefore does not require environmental review. EXHIBITS: 1. Resolution No. 2011-288 approvinq the submittal of the 2011-2012 Amended Action Plan to the U.S. Department of Housing and Urban Development. 2. List of Projects to be added by amendment to 2011-2012 Action Plan. 3. Request for funding from North County Health Services. 4. Request for funding from Interfaith Community Services. 5. Request for funding from Catholic Charities. 3 RESOLUTION NO. 2011-288 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING THE SUBMITTAL OF AN AMENDMENT TO THE 2011-2012 ACTION PLAN FOR THE CITY'S COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM TO THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. 6 WHEREAS, the City Council of the City of Carlsbad, California, has received a 7 report on proposed projects for use of program income for the City's City's 2011-2012 Community Development Block Grant Program; and, WHEREAS, the City must prepare an amendment to the 2011-2012 Action Plan 9 to add new projects to be undertaken that were not included as part of that Action Plan; and, 10 11 12 13 26 27 28 WHEREAS, the City Council has taken all testimony into account. NOW, THEREFORE BE IT HEREBY RESOLVED as follows: 1. That the above recitations are true and correct. 24 2. That the City Council approves the submittal an amendment to the 2011 -2012 Action Plan for the Community Development Block Grant Program to the U.S. 15 Department of Housing and Urban Development which adds projects to the Action Plan at funding levels as indicated in attached Exhibit 2. 16 3. That the City Manager, with City Attorney concurrence, is authorized to 17 execute funding agreements with organizations for approved funding amounts as listed in the attached Exhibit 2. 18 19 20 21 /// /// /// 22 /// 23 /// 24 /// 25 /// /// /// 1 PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council 2 of the City of Carlsbad on the 13'^ day of December, 2011, by the following vote to wit: 3 4 5 6 7 8 9 10 12' 13 14 AYES: Council Members Hall, Kulchin, Blackburn and Packard. NOES: None. ABSENT: Council Member Douglas. 11 MATT HALL, Mayor ATTEST: 15 /-yiMAJiiAvU ^LdRRAlNE M. WOOD, City Clerk 16 (SEAL) 17 18 19 20 21 22 23 24 25 26 27 28 Exhibit 2 PROJECTS TO BE ADDED BY AMENDMENT TO 2011-2012 CITY OF CARLSBAD ACTION PLAN AGENCY/PROJECT TYPE OF PROJECT REQUESTED AMOUNT RECOMMENDED FUNDING 1 Catholic Charities/ Rebuilding of La Posada de Guadalupe Shelter Affordable Housing $300,000 Up to $300,000 as needed for development fees and/or other predevelopment expenses 2 Interfaith Community Services Acquisition of Property Public Facilities/ Improvements $84,000 $84,000 3 North County Health Services Acquisition of Property Public Facilities/ Improvements $1,186,000 Up to $1,186,000 as needed based on appraised value. 4 City of Carlsbad Acquisition of Property Affordable Housing $277,906 Balance of funds not required for other projects up to the maximum available for program income Total $1,847,906 NORTH COUNTY HEALTH SERVICES EXHIBIT 3 Corporate Administration ISOValpreda Road San Marcos, CA 92069 (760) 736.6700 www.nchs-health.org lliMACOTA,M.PH Presidmi&CEO October 4, 2011 Frank Boensch Sr. Management Analyst Housing & Neighborhood Services City ofCarisbad 2965 Roosevelt Street, Suite B Carlsbad, CA 92008 Dear Frank, CAILSMD FAWY MnXONE CaHibc<i.a92008 (760|72ff?76« fo«|;«)| 720.72(14 ENCINITAS WOMEN « CHIIiWEN'S ' HEALTH CENIH IIJOSKOCCSSMI E<iCi>Moi,CA9202i WHS 17601943 W94 Psiotnci (7601179.4620 fox |740] 9431661 ENCINITAS HEALTH CENnil 629 SecoiKl Sne« EM:«*i.a92024 176017537842 foi. (7601 753725? GRAND AVENUE FAMILY MEMCINE ' 727V^eiiS<inltecoi8W Sn 112 Thank you for the opportunity to submit a proposal for use of part of the $ 1.8 million the City's Community Development Block Grant program has to spend. We believe our proposed project is of high need and demand and would greatly benefit residents of Carlsbad. North County Health Services (NCHS) is proposing the purchase of a new building for our Carlsbad Health Center that would allow us to increase capacity to serve more patients and to provide additional services. In April of 2011 the Carlsbad Health Center transitioned from a site that provided family practice services to a site that could only provide pediatric services. This decision was based largely on the reality that the current location is limited in size. Continuing to position ourselves as a family practice was testing the limits of our capacity and could have had negative impacts on our patient's ability to access care in a timely manner. NCHS conducts many outreach activities in the City of Carlsbad, but unfortunately can only refer adult patients to health centers that are in Oceanside or Encinitas which poses a barrier to access for these patients due to the inability to access transportation. Also, NCHS has had to rent additional space across the street from the Carlsbad Health Center for administrative purposes in order to continue current operations. The current health center has reached its maximum capacity to serve patients but he demand for health care is continuing to increase. We would like to propose the purchase of a new health center building available in Carlsbad that is 0.6 miles away from our current health center. This new building is located at 1295 Carlsbad Village Drive, Carisbad, CA 92008 and is 2,695 usable square feet Our current health center is only 1,250 square feet so this new building is more than double the size of our current site. This new building is listed at $1,186,000 but sale comparisons suggest a sale price of $ 1.1M. Additionally, there is a bus stop in front of the medical plaza for easy access for our patients. There is SciM»M!.CA 92069 (7601 73M810 fw 17601736.3157 OCEANSIDE DENTAL 2216S ElCcm<uiR«l(121.122 Ocmnia 092054 176014000277 Fo>(760|4CM402 MISSION MESA CEDIATRICS 2210Vfial>>«.S>E 12 Ocesnside. CA 92054 (7601966J306 Fox 1760)966-3310 MISSION MESA WOMEN'S HEALTH CENnt 22I0We»Ot«,*5.S6.47 S3 0:wBKle.CA 92054 |76(S757J841 fo« (760)967^863 NCHS-LOMA ALTA 605 Cmd> Stni Ot«)niiik.a92054 (760)7574566 FM (74017573004 NCHS-LAMISION 3220MiisionAviflue. Unil 1 Ocjonwle. CA 92054 1760) 7574566 Fm (760) 7573004 RAMONA HEALTH CENm 217 toil tcrtkom taKae. CA 92065 (76017891223 Fox (7601 78^152 SAN MARCOS HEALTH CENHR l50V!>lpndi>Eo6d San Macoi.CA 92069 1760( 7366767 Fox (760) 73M797 WK (760(7524324 COMMJNITY CASE MANAOEMWT (76017364725 7 also ample parking for staff and patients. In order to meet the City's matching requirement, NCHS proposes to commit to paying for all tenant improvement which is estimated at $400,G00-$500,000 using cash reserves with support from the sale of the current Carlsbad Health Center. Currently, NCHS serves nearly 2,500 patients annually at full capacity including over 300 seasonal and migratory agricultural workers. By doubling the square footage of our current site we will be able to bring on an additional provider and staff to double the patient capacity to 5,000 patients per year. Also, we will be able to revert back to a family practice health center so that we can also serve adults and their families. According to the attached map of where our current Carlsbad Health Center patients reside, the majority of our patients are residents of Carlsbad. With the proposed health center expansion, we will expect to continue to serve mostly Carlsbad residents with the capacity to serve additional patients from the surrounding cities. In 2010, 96% of Carlsbad Health Center patients were at or below 200% of federal poverty level and considered low-income. These patients need continued access to health care, especially since we had to limit our services to pediatrics only. At the most recent NCHS Board meeting on October 11, 2011 that Board of Directors approved the proposal for a new Carlsbad Health Center. If we were awarded funding from the City of Carlsbad to purchase this property we would be able to make an offer immediately as it is available now. Following the offer there will be an estimated 1 week of negotiations and then up to 30 days of due diligence depending on the City and NCHS' requirements for purchase. The closing of escrow could happen as soon as 3-5 days following the due diligence process if we had the funding to purchase the building and did not have to undergo a financing process. The entire process leading to the closing of escrow would be 15 to 60 days depending on our own timelines and review processes. Thank you for your consideration of this proposal and please feel free to contact me with any questions or concerns. Sincerely, Irma Cota, MPH President and CEO •^^g'^^f^^CCVal. . Robles '3^^^»iaGft5 - Oceanside Heqlth.Cferft6fit5./J .* •, •* * f .* ..•* - . • GHfy^Nettleton/^a^Sfe^i^.^ ^1. Carlsbad Family Medrojne^ '•« « k.. v v ? • 5 ICHW'-^•cSst'a Paloh North County Health Services CARLSBAD FAMILY MEDICINE PATIE 1 Dot Represents One Patient •j^ NCHS Carlsbad Family IVledictne O Other Facilities I^CyW Esper,bnza Garden fip^sMemorialHospitfil Municipal Boundary ZIP Code Boundary *Patients attending tTsatth center - between January 2009 and April 2010 2 Miles A N June 2010 EXHIBIT -4 UJ li:. .i..J HSH3Sfalth 'A c o m m u n 11 y s e r vices www.interfaithservices.0r3 October 18,2011 Frank BoensCfe SeniorMans^nient Malyst City of Carlsbad Hdtlsihg & Neighborhood 2965 R6osevdt Str^et^ Suite B Carlsbad, Califomia 92008 Re: Letter of Interest for Use of City CDBG Funds - Property Acquisition COASTAL SERVICE CENTER , 2195 Oceanside Blvd. Oceanside, CA 92054 Teir (760) 721-2117 Fax:(760)721-0351 BETTY & MELVIN COHN CENTER : 550 W. Washington Ave., Ste B Escondido, CA9!2Ce5 Tel: (760) 489-6380 .Fax:(760)740-0837 Deaj-^fc B<M!nsid^^ Please accept this letter of interest and propios'al ^om lnterfai& Con^ Services for use of a part of the City's available $1.8 million in CDBG funds, for acquisition of prpperty to benefit City of Ca^^ Proposed tJse of Funds Interfaith has operated its Coastal Service cienter at 2195 Oceanside Blvd., Oceanside, since 2004. This has been under a lease arrangement for this property, which has been under prolonged bankruptcy proceedings. This bankruptcy is now winding up, and Interfaith is presented with the opportunity to purchase this property. This acquisition will insure the continuation of services from this center, including our significant support annually to Carlsbad households in need. Assistance to Carlsbad residents from 2195 Oceanside Blvd. is funded in part by City of Carlsbad CDBG funding. City CDBG funds to Interfaith for this purpose have been, tiiankfully, consistent, stretching at least over the last six years, based on the need for and our ability to provide this support. Total Cost of the Property Through court-directed bankruptcy proceedings, Interfaith has made the only bid to purchase this site for $1.2 million. Historically, the number ofCarisbad households served annually funded by Carlsbad CDBG funding has constituted 7% of the total served from this site. We therefore, conservatively, propose that 7% of our direct cost of this acquisition be from the City CDBG dollars now available for capital pijrposes. This amounts to $84,000, which we would use as part of a minimum 20% down-payment for this acquisition, $240,000. How Interfaith Plans to Meet the Matching Requirement From other available agency funds, Interfaith will provide the remainder of the 20% down payment. A fixed-rate mortgage will be used to finance the remainder $960,0000 of purchase price. Interfaith has an exceptionally excellent mortgage-to-debt ratio of the substantial properties we already own, ensuring quaUfication for this acquisition mortgage. Page 1 of2 Board of Directors Christine M. Carrick President William T. "Bill" Baker Laurie Ivie Burt David L. Dollins Michael Friedrichs . Silas Harrihgton Jill Henderson Jeff Jones Stan Kim Georse L. Ligsins, PhD, MPH Jesse R Longacre Gar/Luoto Ellen Marks MikeMeziere Paul M. Polito, CPA Thomas Reilly 111 JInda Schatz Tim Sharon Stephen Smith JeffVfetka Jill Wrisht DonZech President's Circle Margaret Bradley MelCohn , Bernard J. Englarider Douglas Hanson, CPA Jonathan "Jack" Jacobs Larry Kiasnow Ray Malkiewicz Manuel E. "Manny" Martinez Elsa Singh Lee y Turner, In Memoriarri Barbara Warden Ernest.Zomalt, Ph.D. Executive Director Richard Batt /o Timeline with Milestones to Closing of Escrow The timeline for consummation of this acquisition is subject to the coiirt-supervised receivership, which extends out somewhat a schedule for purchase. We are advised that a close of escrow would occur sometime after January 1,2012, but certainly well before April 1,2012. Details About the Property - Location, Size Otfaier Pertinent Information This property is addressed as 2195 Oceanside Blvd., Oceanside, CA 92054. The County Tax Assessor's Parcel number is 149-370-08, and the legal description is Parcel 3 of Parcel Map No. 5383, recorded Dec. 13,1976 (file #416153). This site is on the south side of Oceanside Blvd., directly on an NCTD bus stop, and a short walking distance from NCTD Sprinter services, facilitating client access. The total lot size is .71 acre. The property consists of a single-story building and developed parking and landscaping. The building area is approx. 9,603 sq. ft. This is a commercial/industrial construction building, which Interfaith has occupied since 2004. We reconfigured this building for our community services purposes at that time, with complete building permitting and occupancy approval. We have operated our services from this site since the completion of this reconfiguration. Additional detail about this property and our 2004 reconfiguration is available as needed. Projections on How Many Carlsbad and non-Carlsbad Residents will Benefit As noted, approx. 7% of all served at the Coastal Service Center annually have been Carlsbad residents. For our "Safety Net" services alone, this means approx. 700 unduplicated individuals (women, children and men) from a total approx. 10,000 served annually. With improved transportation resources being pursued through The Alliance for Regional Solutions and improved coordination of services, this proportion would likely increase. We thank you for consideration of this funding request. We hope you agree, this is a proportionally wise investment in the continuation of services to Carlsbad residents in need. Please contact our office for further information and details related to this request. Sincerely, Craig B. Jones Associate Director Page 2 of2 // Exhibit 5 CATHOLIC CHARITIES Administration Date: November 21, 2011 To: Gary Barberio, Economic Development Director City of Carlsbad Frank Boensch, Sr. Management Analyst City of Carlsbad From: Sister RayMonda DuVall Executive Director RE: REQUEST TO DEFER CITY FEES FOR NEW CONSTRUCTION OF LA POSADA BACKGROUND: Catholic Charities was awarded a $2 million grant from the City of Carlsbad through the Agricultural Conversion Mitigation Fee for the construction of a new La Posada to house farm workers and homeless men. Catholic Charities was awarded $361,583 CDBG funds to be used for city fees and architectural fees. At the October 25, 2011 City Council meeting to approve the CUP for the new La Posada , Catholic Charities requested that a portion of the proposed City Fees be deferred. This request was based upon the following unexpected issues: I.Two phased construction, 2.the new requirement for Hydro Modification, 3. requirement for an expanded drive-way, 4. landscape requirements and 4. slope maintenance endowment. As a result of these and other Issues the estimated construction costs have gone beyond the $2 million grant. City Fees have far exceeded expectations. REQUEST TO DEFER CITY FEES: The $361,583 In CDBG funding granted Catholic Charities was intended to cover the costs of city fees and all architectural fees. To date we have expended $42,132 on various City and Professional fees and $116,968 for Architectural fees - leaving a CDBG fund balance of $202,483. We estimate the remaining City fees to be $455,962 with an additional architectural fee of $70,000, bringing the total to $525,962. Deducting the remaining CDBG funds the funding gap is $323,479. Catholic Charities requested at the October 25, 2011 City Counsel meeting that city fees be deferred until the Occupancy Certificate is issued in order for the agency apply for CDBG funding. Construction estimates are well over $2.4 million. Leaving a $400,000 gap. The agency has secured additional funding for all kitchen equipment and all furnishing for the dining room and dormitory for farm workers. Catholic Charities has also secured one years operating expenses. Total funds raised to date $800,000. The agency intends to raise the additional construction funds. With this commitment Catholic Charities will bring approximately $1.2 million to the construction and operation of La Posada. Catholic Charities intends to raise all funds for construction over the $2million grant and will seek CDBG funding for the gap in city fees and architectural fees. 6 Catholic Charities Diocese of San Diego 349 Cedar Street, San Diego, Califomia 92101-3197 * Tel. (619) 231-2828 • Fax (619) 234-2272 Member Agency of United Way * Member Agency of Catholic Charities USA y a. Print Page 1 of2 Media: 1 EO: N LS: Com-Off/Rtl/Ind MLS#: 110042983 Status: Active Address: 2653 Roosevelt St Listing Type: Exclusive Rigirt (R) City: Carisbad, CA Zip: 92008 County: San Diego Map Code: 1106E5 Type of Property: Office Have: Owner user office buildin Location: Motive/Want: sale Directions to Property: 1-5, exit Carlsbad Village Dr. (West); Roosevelt (right). LP: ^$795,000 OLP: $875,000 LD: 07/26/2011 MT 139 AMT: COE Date: SP: 138 [General Information # of Units: 4 Price/SqFt/Month Price: $209.00/ Age: Stories: 2 Lot Size: .25 Acres or I Lot SqFt: 8,578 SqFt Improv: 3,804 APN: 203-101-21 Acres: # Buildings: 1 Zoning: Remarks: Please drive by discreetly. Do contact ttie tenants or management. Vyfell located office building in downtown Carlsbad. Walk to the rail station, dining, services, and beach. Improving redevelopment area of Carisbad. Unit A occupied by long term tenant (Doctor office). Units B, C, and D occupied by owner. Ideal owner user buikling for the business operator that wants to be near the beach and downtown Carisbad services. Confidential Remarks: Property flyer attached. Mandatory Remari(s: , None Known jAdditional Information Cooling: Heat: Special: Construction; Lot Size: Source of SqFt: Floors: Parking: Stories: Flood Zone: Roof: Type of Lease: Geo Hazard: Sales Includes: Tenant Pays: Railroad: Cars Per Day: Span: Phase: Amps: Volts: Truck Doors: Ceiling Height: Dock Height: financing Present Loan: 2SO000 Assumable Financing: 0 Source of Fin Info: Down Payment: 88000 Gross Equity: $625,000 Existing Financing: Terms: [Office and Showing Instructions List Agent: Ray Adams (610191) Agent Phone: (858)546-5456 List Office: CassMy Turley BRE Commercial Office Phone: (858)546-5400 Email: radamsObreb.com Fax: (858)777-5703 CBB%: 3.00% Subject to Court/Lender Approval: N CBB$: Showing: 2nd Agent: Broker #: 3140 Show Phone: Listing Agent Additional Phone: CVR: N [Sold Information Off Mari(et Date: Sale Agent #: Sale Office #: Concessions: Close of Escrow: Sale Agent Name: Sale Agent Office: Expire Date: SA Phone: SO Phone: Sold Price: Financing: Prepared by: Jim Klinge DRELic.#:CA 00873197 Information is not guaranteed. Copyright 2001 - 2011 SANDICOR, Inc. Monday. December 12,2011 7:33 PM http://tempo5 .sandicor.com/5.4.03.21271/Search/PrintPreviewDlg.asp 12/12/2011 Print Page 2 of 2 MLS#: 110042983 Address: 2653 Roosevelt St UNIT INFORMATION UNIT MNT RENT SIZE LSETERMS/EXP UT1 UT2 UT3 UT4 UTS UT6 UT7 UTS UT9 UT10 Overage: Common Area Maint: Other Income: Occupancy %: Assess Value Imp %: Total: Total: Finanr.ial Analysis Yoar Gross Sched Inc Other Income - Vacancy & Credit Loss Gross Op Inc - Operating Exp Net Op Inc - Total Annual P&l Pmt Cash Flow Pre-Tax Cap Rate (NOI/LP) Cash on Cash/Pre-Tax Gross Multiplier ACTUAL 100 20291 100 0.00 PROJECTED 71280 20291 47425 OPERATING EXPENSES Taxes 9363 Ins F&L 1712 Gas & Electric 407 Water & Sewer 663 Trash 437 Supplies Maintenance 4000 Pest Control Ucense Gardner 2400 Manager Property Mgt Other 500 Total 20291 1st 2nd Balance LNBAL 250000 P&l INTR ASSUM BALLOON MM/YY DUE Prepared by: Jim Klinge DRE Lie* CA 00873197 Infomiation is not guaranteed. Copyright 2001 - 2011 SANDICOR, Inc. Monday, December 12, 2011 7:33 PM http://tempo5.sandicor.eom/5.4.03.21271/Search/PrintPreviewDlg.asp 12/12/2011 Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•2011‐2012 Action Plan submitted to U.S. Department of Housing and Urban Development  (HUD) in May of 2011.•Program income of $1,847,906 from lease payment on Villa Loma Apartments received in May of 2011. Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•Amendment required to allow for expenditure  of program income.•Timely expenditure regulation requires use of funds prior to April 30thof each year. Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•North County Health Services request of up to $1.186 million to purchase new medical office space.•Match to be provided with funds for building improvements, furnishing and equipment.•Funds to be provided as deferred, no interest loan to be forgiven in 20 years with continued use as Medical Center. Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•Interfaith Community Services request of $84,000 to purchase public service center. •Request represents 7 percent contribution reflecting the percentage of Carlsbad residents receiving services at the Center. Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•Catholic Charities request for up to $300,000 to pay development fees for construction of larger homeless shelter on Impala Drive.•The larger shelter will provide beds for an additional 50 farm workers. Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•$2 million in Agricultural Conversion Mitigation Fee Funds awarded for construction.•$361,583 in CDBG funds awarded for predevelopment activities.•Up to $300,000 needed to cover development fees due to unexpected project cost increases Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•Catholic Charities will raise funds to cover increases in construction costs with plans to bring in a total of approximately $1.2 million combined for construction and operating costs Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan•$1,186,000 North County Health Services request.•$84,000 Interfaith Community Services request.•$300,000 Catholic Charities request.•$277,906 Acquisition of property for affordable housing. Amendment to 2011‐2012 Community Development Block Grant (CDBG) Annual Action Plan