City Council

17. Approval of the Loan and Regulatory Agreements between the City of San\nBernardino and E. Street Veterans Apartments, LP, A California Limited Partnership\n(Ward 2) p. 801\nRecommendation:\nIt is recommended that the Mayor and City Council of the City of San Bernardino,\nCalifornia:\n1. Authorize the execution of the Loan and Regulatory Agreements between\nthe City of San Bernardino and E. Street Veterans Apartments, LP, a\nCalifornia Limited Partnership, for the allocation of $1,985,401 in\nPermanent Local Housing Allocation funds and $2,014,599 in Low and\nModerate Income Housing Asset Funds, totaling $4 million, to support the\ndevelopment of the E. Street Veterans Apartments located at 1351 N. E\nStreet, San Bernardino, California; and\n2. Adopt Resolution No. 2025­389, authorizing the Director of Finance and\nManagement Services to amend the Fiscal Year 2025/2026 operating and\ncapital budget by $4 million, allocating $1,985,401 in Permanent Local\nHousing Allocation funds and $2,014,599 in Low and Moderate Income\nHousing Asset Funds; and\n3. Authorize the City Manager, or designee, to take any further actions and\nexecute any and all documents or instruments, including but not limited to\nsubordination agreements for senior lenders, subject to review and\napproval by the City Attorney to facilitate execution of the agreements and\nrelease of funds.