26-2211
APPROVE and AUTHORIZE the Director of Conservation and Development, or designee, to: execute (i) an Amended and Restated Disposition, Development, and Loan Agreement (DDLA) with Bay Point Pacific Associates, LP (Developer), related to the first phase of the Orbisonia Heights Development project located near West Leland Road, Bailey Road, Maylard Street, and South Broadway Avenue in Bay Point (Property), that permits the assignment of the existing May 24, 2022, DDLA to the Developer, increases the seller carryback loan to approximately $2.03 million, and provides for the sale and leaseback of a portion of the Property as part of the project financing, (ii) a Development Loan Agreement with the Developer in the amount of approximately $5.32 million, and (iii) related documents; APPROVE and AUTHORIZE the Director of Public Works, or designee, to execute documents related to the sale of the Property and the construction of a portion of a public library by the Developer in County-owned space within the development; AUTHORIZE the Chair of the Board to execute a grant deed conveying a portion of the Property to the Developer for affordable housing uses and a grant deed conveying a portion of the Property to the Pacific West Communities, Inc., the Master Developer, for possible park purposes.
The document
No operative document is on file for this matter — either the county attached none, or everything attached is supporting material.
On the agenda
- C.18.Board of Supervisors