The Department is making this Conditional Award to the Awardee(s) on the basis of, and in reliance upon, the representations, warranties, projections, and descriptions that the Awardee(s) submitted as part of the Application (the “Applicant Representations”).
This includes eligibility as stated in Article I.B.1. of the NOFA.
If low-income housing tax credits are part of the financing structure and have not yet been applied for, the Awardee(s) are committing to applying to the next 2026 application cycle of California Debt Limit Allocation Committee (CDLAC) and California Tax Credit Allocation Committee (CTCAC), for bond financing and 4% federal tax credits with no state tax credit request, and adhering to the CDLAC award bond issuance/construction closing deadline.
The Department may rescind this Conditional Award if the Department discovers, at any time prior to disbursement of the Conditional Award, that the Applicant Representations included material misrepresentations or omissions, regardless of whether or not such misrepresentations or omissions were innocent, unintentional, and/or based upon belief.
II. Terms and Conditions of Conditional Award
TIME IS OF THE ESSENCE IN THE SATISFACTION OF THESE TERMS AND CONDITIONS OF CONDITIONAL AWARD.
The Department may rescind this Conditional Award if any of the terms and conditions enumerated in this Section II (the “Terms and Conditions of Conditional Award”) are not timely satisfied. The Terms and Conditions of this Conditional Award and their corresponding timelines are described below.
If the Terms and Conditions of this Conditional Award are timely satisfied, the Department will (i) promptly provide a written notification to the Awardee(s) via electronic mail; and (ii) circulate an executed copy of an STD 213, Standard Agreement, for all appropriate signatures and approvals in accordance with the timeline specified in Section III of this Conditional Award Commitment.
All timelines shall be calculated in calendar days. Any deadline falling on a weekend or State of California holiday shall be extended to the next business day.
A. Timely Execution of Acceptance of Terms and Conditions of Conditional Award Form
The Awardee(s) shall execute and deliver a copy of the enclosed Acceptance of Terms and Conditions of Conditional Award to the Department within ten (10) calendar days of the date of this Conditional Award Commitment. The Department will deem this condition to be unsatisfied if it receives an executed Acceptance of Terms and Conditions of Conditional Award that has been substantively modified, altered, or amended in any way. The signed Acceptance of Terms and Conditions of Conditional Award form must be submitted to [email protected].
MFSN, Round 4 – MHP Gap Funding NOFA, Conditional Award Commitment Pacific West Communities, Inc. and City of Lakeport – Bevins Street Senior Apartments Contract No. 26-MFSN-19022
August 11, 2026
B. Timely Delivery of Authorization and Organizational Documents If not provided at the time of application, the Awardee(s) shall deliver to the Department, within sixty (60) calendar days of the date upon this Conditional Award Commitment, a legally sufficient set of Authorization and Organizational Documents, as further described and specified below. Specifically, the Awardee(s) shall deliver a duly adopted authorizing resolution, as well as a complete and duly filed or adopted set of organizational documents and all amendments (the “Authorization and Organizational Documents”), for each of the following entities as applicable:
each Awardee entity; the ultimate borrower of the Conditional Award funds (the “Borrower”); and,
each separate legal entity that is part of the Awardee’s or Borrower’s organizational structure.
Each entity’s resolution must constitute, to the Department’s reasonable satisfaction, an unconditional, duly adopted, and legally binding authorization of the entity to accept the total amount of these Conditional Award funds, to fully participate in the relevant Department program, and to be legally bound by the requirements of the Department program. The Department may agree to an extension of fifteen (15) calendar days based on the Awardee’s demonstration of necessity.
Note: Local Public Entities, as defined in the above-mentioned NOFA and/or Final Program Guidelines, are not required to submit a complete and duly filed or adopted set of organizational documents and amendments. Both the Conditional Award and this Conditional Award Commitment are subject to Health and Safety Code section 50406, subdivision (p), as subsequently amended (“AB 1010”).
The Department has posted resolution templates on its website as informational guidance. Please note that use of the resolution templates is not compulsory.
However, use of the provided templates will assist in the timely review and approval of the Standard Agreement. While entities may choose to use modified language in their resolutions, Sponsors should be aware that this may delay preparation of the Standard Agreement or, if deemed insufficient, may result in the need to submit a revised resolution.
At any point prior to disbursement, the Department may also require the Awardee(s) to resubmit Authorization and Organizational Documents if the original submittals were determined to be inaccurate or incomplete.
III. Delivery of Standard Agreement
In an effort to be responsive to each Awardee’s closing needs and to ensure timely commitment of funds, the Department commits to delivering an executed copy of the MFSN, Round 4 – MHP Gap Funding NOFA, Conditional Award Commitment Pacific West Communities, Inc. and City of Lakeport – Bevins Street Senior Apartments Contract No. 26-MFSN-19022
August 11, 2026
Standard Agreement relative to this Conditional Award within ninety (90) calendar days of receiving all required documents, including all legally sufficient Authorization and Organizational Documents, in connection with this Project and as applicable.
Your contract is assigned to a Single Point of Contact (SPOC), Lena Howell, Housing & Community Development Representative II, Multifamily Super NOFA, at (916) 776-7559 or [email protected], which will serve as your contact for any and all inquiries related to the development and execution of the Standard Agreement. If this project has previously received funding from HCD, this new award will be referred to the same contact as your previous award so as to minimize the points of contact from within HCD. You will receive an email from your SPOC within 48 hours of receipt of your signed Acceptance of Terms and Conditions of Conditional Award.
Among the responsibilities of the SPOC will be to maintain contact throughout the next several months as you work to secure all necessary funding sources to begin construction. Your SPOC will be reaching out to you monthly to inquire on status and progress. In the meantime, should you have any changes to the status or make up of your project we ask that you communicate these changes as soon as possible to your assigned SPOC.
IV. Deadline to Secure Permanent Financing
Please note, that the Awardee must secure all permanent financing, including tax credits and bond allocations, within 24 months of the date of the first Department funding award to the Project, consistent with the Department’s Disencumbrance Policy (Administrative Notice Number 2022-02: Disencumbrance Policy). Sponsors must demonstrate that all permanent financing is in place allowing the project to commence construction. Failure to meet this requirement shall result in the withdrawal or recapture of this Conditional Award and any other prior or subsequent funds awarded to the Project.
Congratulations on your successful Application. For further information, please contact your SPOC as outlined in Section III above.
Sincerely,
Jennifer Seeger
Deputy Director
Division of State Financial Assistance
Enclosure: Acceptance of Terms and Conditions of Conditional Award form
California Department of Housing and Community Development (HCD) Multifamily Finance Super NOFA – MHP Gap Funding NOFA, Round 4 Notice of Funding Availability (NOFA)
Acceptance of Terms and Conditions of Conditional Award Pacific West Communities, Inc. and City of Lakeport (“Awardee(s)”) Bevins Street Senior Apartments (“Project”)
Multifamily Finance Super NOFA (MFSN) – MHP Gap Funding NOFA award totaling $10,187,500 (“Conditional Award”), as detailed below:
Program Award Amount Contract Number
Multifamily Housing Program (MHP) $10,187,500 26-MFSN-19022 By signing this Acceptance of Terms and Conditions of Conditional Award, the Awardee acknowledges having read and fully understood the terms and conditions of the Conditional Award Commitment, dated August 11, 2026, in connection with the Project.
The Awardee acknowledges having read and fully understood all of the Department’s requirements relative to the Conditional Award, including the requirements set forth in Administrative Notice Number 2022-22: Disencumbrance Policy, and the Awardee agrees to abide by and comply with those requirements.
In addition, the Awardee(s) must acknowledge that this Conditional Award cannot be paired with a financing structure that includes State Low-Income Housing Tax Credits or 9% Federal Low-Income Housing Tax Credits.
Awardee(s) with pending 4% applications with California Debt Limit Allocation Committee (CDLAC) and California Tax Credit Allocation Committee (CTCAC) are committing to accept bond financing and 4% federal tax credits that they may be offered and must withdraw any open request for state tax credits. HCD has confirmed with CDLAC that they will allow this as a substitution of funds. Additionally, under their authority pursuant to Revenue and Taxation Code, where CTCAC becomes aware of additional resources supporting a project that were not included in the application that make state tax credit equity no longer necessary for financial feasibility, CTCAC will not award the project state tax credits.
Awardee(s) with pending 9% applications with CTCAC that plan to accept this Conditional Award must withdraw those applications and as necessary apply for bond financing and 4% federal tax credits to complete their financing structure.
MFSN, Round 4 – MHP Gap Funding NOFA, Conditional Award Commitment Acceptance of Terms and Conditions of Conditional Award Pacific West Communities, Inc. and City of Lakeport – Bevins Street Senior Apartments Contract No. 26-MFSN-19022
August 11, 2026
Awardee(s) without pending applications with CDLAC and/or CTCAC are also committing to apply no later than September 8 for the next 2026 application cycle of CDLAC and CTCAC for bond financing and 4% federal tax credits with no state tax credit request, and adhering to the CDLAC readiness deadline.
_________________________________________________ ______________________ Caleb Roope, President and Chief Executive Officer Date Pacific West Communities, Inc.
_________________________________________________ ______________________ Kevin M. Ingram, City Manager Date
City of Lakeport
** For HCD Use Only **
□ Authorized Representatives Verified
□ All Parties Signed
Date Received: ____________________