290 North D Street, San Bernardino, CA 92401 | P: 909-384-5122 | F: 909-384-5138 | www.SBCity.org Office of the City Manager | Charles A. Montoya, City Manager
March 13, 2024
Housing Authority of the County of San Bernardino
Attention: John Moore, Director of Development
715 East Brier Drive
San Bernardino, CA 92408
RE: Arrowhead Grove Phase IV Affordable Housing Project Conditional Funding Commitment
Dear Mr. Moore,
Please be advised on March 6, 2024, the City of San Bernardino (City) adopted Resolution No. 2024 -036 approving a Conditional Funding Commitment for Arrowhead Grove Phase IV (Project). The Resolution demonstrates approval of a conditional commitment of up to $1.9 million of Neighborhood Stabilization Program (NSP) funds and up to $3 million in HOME funds to support the Arrowhead Grove Phase IV Project, not to exceed $4.9 million in total City funding. A conditional commitment refers to the promise to commit HOME funds once the Housing Authority of San Bernardino County (HACSB) and National Core Renaissance of California (CORE) meet agreed-upon conditions.
HACSB/CORE will need to demonstrate all the HOME commitment requirements of 24 CFR 92.2, the requirements contained in 24 CFR92.250(b), provide assessment of the market demand in the neighborhood, complete the environmental review requirements, secure all necessary financing, provide a complete budget, demonstrate cost reasonableness, submit all documentation necessary for the City to complete underwriting and subsidy layering requirements.
If you have any additional questions or concerns, please feel free to contact Cassandra Searcy at 909-384-7270 or via email at [email protected].
Sincerely,
Charles A. Montoya
City Manager
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