HomeMy WebLinkAboutC36510 Res 2020-47 Coachella Valley Housing Coalition (CVHC) Conveyance of 14 Sngl-Fmly LotsContract No. C36510
MEETING DATE:
PREPARED BY:
STAFF REPORT
CITY OF PALM DESERT
COMMUNITY DEVELOPMENT DEPARTMENT
May 28, 2020
Jessica Gonzales, Senior Management Analyst
REQUEST: Consideration for approval of actions related
fourteen single-family lots (currently known a
032 thru 624-440-036 and 624-441-014 thru
Coachella Valley Housing Coalition, Inc.
Recommendation
By Minute Motion that the City Council:
to the conveyance of
s APN Nos. 624-440-
624-441-022) to The
1) Adopt City Resolution No. 2020- 47, approving the conveyance by the City of
fourteen (14) single-family lots located at Merle Street (currently known as
APN Nos. 624-440-032 thru 624-440-036 and 624-441-014 thru 624-441-
022) (the "Lots" or "Property") to The Coachella Valley Housing Coalition, Inc.
("CVHC") pursuant to a Disposition and Development Agreement, Contract
No. C36510, substantially in the form attached hereto (the "Agreement") for
the purpose of constructing 14 detached single-family dwellings to be made
available through the self-help program to qualified very low and lower
income households (the "Project");
2) Authorize the Director of Finance to set-aside $350,000 for Silent Second
Trust Deeds to provide assistance to qualifying very low and lower income
first-time homebuyers, not to exceed $25,000 per homebuyer; and
3) Authorize the Mayor and/or the City Manager to take any action deemed
necessary for the purpose of effectuating the lot donation and/or transfer of
property as prescribed in the Agreement and any documents necessary to
effectuate the actions taken herewith.
Funds are available in Housing Mitigation Account No. 214-4490-466-3901.
Strateqic Plan
One of the priorities of the City's Envision Palm Desert Strategic Plan, as part of Land,
Use, Housing and Open Space, is to facilitate development of high quality housing for
people of all income levels. This request meets that objective by diversifying the City's
housing stock for very low and lower income households.
May 28, 2020 — STAFF REPORT
City — Approval of Conveyance of Vacant Parcels to CVHC
Page 2 of 4
Executive Summary
On October 11, 2018, the City issued a Request for Proposals ("RFP") seeking a
quatified developer to assist with the development of a fourteen (14) unit Self-Help
project and only one response was received from CVHC.
Adoption of the Resolution will authorize an Agreement with CVHC for the conveyance
of the Property to CVHC, and the development of fourteen (14) single-family detached
homes to be made available through the Self-Help program for sale at an affordable
housing cost to qualified very low or low income first-time homebuyer households which
include a member who is employed within the City's jurisdictional boundaries.
Concurrently, the City will retain restrictions on each of the fourteen (14) lots in order to
ensure compliance and continued affordability. The Agreement provides for the City to
convey the Property by grant deed to CVHC for $560,000 ("Purchase Price") and for the
City to loan the Purchase Price to CVHC on the terms set forth in the form of promissory
note attached to the Agreement, which loan will be secured by a deed of trust on the
Property ($40,000 per lot) in the form attached to the Agreement.
Approval of the set aside of $350,000 in Housing Mitigation Account No. 214-4490-466-
3901 will allow the City, in its sole discretion, to provide assistance through Silent
Second Trust Deeds to qualifying very low and lower income first-time homebuyers, not
to exceed $25,000 per homebuyer.
Backqround
The fourteen (14) self-help Lots are owned by the City and were acquired as part of a
greater master-planned site which is inclusive of the Hovley Garden Apartments, Falcon
Crest, and the La Rocca Villas (Tentative Track Map No. 30795). The vacant subdivided
Lots are {ocated west of Cook Street and front Merle Street (currently known as APN
Nos. 624-440-032 thru 624-440-036 and 624-441-014 thru 624-441-022) providing easy
access to public transportation, recreational facilities, commercial business districts, and
schools.
After receiving no response to a previously issued RFP on March 2018, the City
solicited an RFP again on October 11, 2018 from qualified affordable housing
developers for the development of the Project through a self-help or sweat equity
program. On November 8, 2018, one response was received from CVHC.
Attached for the City Council's consideration is the proposed Agreement and related
documents that provide for the conveyance of the Property from the City to CVHC. The
Agreement and related documents provide for the recording of deferred payment deeds
of trust to secure the City's loan to CVHC of the Purchase Price, which will be assumed
May 28, 2020 — STAFF REPORT
City — Approval of Conveyance of Vacant Parcels to CVHC
Page 3 of 4
by each homeowner on a pro rata basis ($40,000 per home), the construction of
fourteen (14) Self-help single-family homes, a covenant restricting the homes for sale to
qualifying very low and lower income households at affordable sales prices, with resale
price controls pursuant to regulatory agreements. The loan for each homeowner
($40,000) will only be payable upon a default under the regulatory agreement or the
transfer of the property in violation of the regulatory agreement during the 45-year term.
The homes will be restricted to households whose incomes do not exceed the income
limits for very low and low income households based on the area median income for
Riverside County at the time of sale. A qualifying household must be a first-time
homebuyer and have a household member who is employed within the City's
jurisdictional boundaries.
The City's financial participation in the Project will be limited to loan of the Purchase
Price of the Property and the potential homebuyer assistance, in the form of Silent
Second Trust Deeds. The assistance for each homebuyer will be up to $25,000
depending on their need to secure an affordable housing cost ($350,000 in total).
Staff recommends approval of the conveyance of the fourteen parcels to CVHC
pursuant to the Agreement. Upon completion of the Self-Help Project, 14 affordable
single-family residences will be added to the City's affordable housing portfolio,
increasing the supply of affordable housing in the City.
Funds are available in Housing Mitigation Account No. 214-4490-466-3901.
Fiscal Analvsis
The fiscal impact to the City in connection with the proposed actions and Agreement
includes the auxiliary costs to the City related to the conveyance of the land such as
escrow fees and the homebuyer assistance (not to exceed a total of $350,000).
LEGAL REVIEW
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i��calrok
Legal Counsel to the
PD Housing Authority
DEPT. REVIEW
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Ryan Stendell
Director of Community
Development
FINANCIAL REVIEW ASSISTANT CITY
MANAGER
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Janet Moore
Director of Finance
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Andy Firestine
Assistant City Manager
City Manager, Lauri Aylaian: �Q
May 28, 2020 — STAFF REPORT
City — Approval of Conveyance of Vacant Parcels to CVHC
Page 4 of 4
CONTRACTOR: Coachella Valley Housing Coalition
45701 Monroe Street, Suite G
Indio, CA 92201
ATTACHMENTS: City Resolution No. 2020 — 47
Draft Development Disposition Agreement, Contract No. C36510
Coachella Valley Housing Coalition Proposal
Site Map
RESOLUTION NO. 2020-47
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT
APPROVING THE EXECUTION AND DELIVERY OF A DISPOSITION AND
DEVELOPMENT AGREEMENT BETWEEN THE CITY OF PALM DESERT AND THE
COACHELLA VALLEY HOUSING COALITION TO SUPPORT THE CREATION OF
NEW AFFORDABLE HOUSING ON CERTAIN REAL PROPERTY OWNED BY THE
CITY, AND AUTHORIZING CERTAIN RELATED ACTIONS
WHEREAS, the City of Palm Desert owns the real property located in the City of
Palm Desert, County of Riverside, State of California, described on Exhibit "A," attached
hereto and incorporated herein (the "Property"); and
WHEREAS, on October 11, 2018, the City issued a Request for Proposals ("RFP")
seeking a qualified developer to assist with the development of 14 self-help single-family
homes on the Property; and
WHEREAS, the City received only one response to the RFP, which was from the
Coachella Valley Housing Coalition, a California non-profit public benefit corporation
("CVHC"); and
WHEREAS, CVHC wishes to acquire the Property from the City and to complete
a project on the Property consisting of 14 detached single family homes that will be
restricted for sale to qualified very low and low income households (the "Project"); and
WHEREAS, the Project is a self-help housing project in which no fewer than 500
hours of construction work associated with each of the homes is to be performed by the
homebuyers; and
WHEREAS, CVHC has demonstrated its ability to develop affordable housing
projects including self-help projects; and
WHEREAS, CVHC has provided documentation to the City demonstrating that it
will need financial support from the City for the creation of the homes; and
WHEREAS, CVHC has requested the City to enter into a Disposition and
Development Agreement (the "DDA") with CVHC; and
WHEREAS, the DDA provides for the City to convey the Property by grant deed
to CVHC for $560,000 ("Purchase Price") and for the City to loan the Purchase Price to
CVHC on the terms set forth in the form of promissory note attached to the DDA, which
loan will be secured by a deed of trust on the Property in the form attached to the DDA;
and
WHEREAS, the DDA requires CVHC to timely construct, or cause to be
constructed, the 14 single-family homes on the Property, including public infrastructure
improvements associated with the homes, and timely sell the singfe-family homes to
RESOLUTION NO. 2020-47
Page 2
qualified very low and low income households, which requires participants to be first time
homebuyers and the household include a member who is employed within the City's
jurisdictional boundaries, at a price that does not exceed an affordable housing cost in
accordance with the terms of the affordable housing restriction agreement attached to the
DDA; and
WHEREAS, the City may, in its sole discretion, provide assistance to a qualified
household in compliance with any City first time homebuyer affordable housing program;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM DESERT
HEREBY RESOLVES:
Section 1. The above recitals are true and correct and a substantive part of this
Resolution.
Section 2. The DDA by and between the City and CVHC, presented to the City
Council at this meeting and incorporated herein by reference, is hereby approved. The
City Manager, or her designee (each, an "Authorized Officer"), is hereby authorized to
execute and deliver, for and in the name of the City, the DDA in substantially such form,
with such additions or changes as the Authorized Officer executing the same may
approve (such approval to be conclusively evidenced by such Authorized Officer's
execution and delivery thereofl.
Section 3. The officers and staff of the City are hereby authorized, jointly and
severally, to do all things which they may deem necessary or proper to effectuate the
purposes of this Resolution and implement the DDA, including the execution and
recordation of agreements and documents contemplated by the DDA, and any such
actions previously taken are hereby ratified and confirmed.
P6401-0001 �2419422v1.doc
RESOLUTION NO. 2020-47
Page 3
PASSED, APPROVED, AND ADOPTED by the City Council of the City of Palm
Desert, California, at its regular meeting held on the 28th day of Mav, 2020, by the
following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
GINA NESTANDE, MAYOR
ATTEST:
GRACE L. ROCHA, ACTING CITY CLERK
P6401-0001�2419422v1.doc
EXHIBIT A
LEGAL DESCRIPTION OF THE PROPERTY
That certain real property situated in the City of Palm Desert, County of Riverside, State
of California, described as follows:
LOTS 95 THROUGH 108 OF TRACT 30795, AS PER MAP FILED IN BOOK 406, PAGES
73 THROUGH 80 OF PARCEL MAPS, ALL IN THE OFFICE OF THE COUNTY
RECORDER OF SAID COUNTY OF RIVERSIDE.
ASSESSOR PARCEL NUMBERS 624-440-032, 624-440-034, 624-440-035, 624-440-
036, 624-441-014, 624-441-015, 624-441-016, 624-441-017, 624-441-018, 624-441-019,
624-441-020, 624-441-021, 624-441-022
EXHIBIT A
LEGAL DESCRIPTfON OF THE PROPERTY
That certain real property situated in the City of Palm Desert, County of Riverside, State
of California, described as follows:
LOTS 95 THROUGH 108 OF TRACT 30795, AS PER MAP FILED IN BOOK 406, PAGES
73 THROUGH 80 OF PARCEL MAPS, ALL IN THE OFFICE OF THE COUNTY
RECORDER OF SAID COUNTY OF RIVERSIDE.
ASSESSOR PARCEL NUMBERS 624-440-032, 624-440-034, 624-440-035, 624-440-
036, 624-441-014, 624-441-015, 624-441-016, 624-441-017, 624-441-018, 624-441-019,
624-441-020, 624-441-021, 624-441-022
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DISPOSITION AND DEVELOPMENT AGREEMENT
by and between the
CITY OF PALM DESERT
“City”
and
THE COACHELLA VALLEY HOUSING COALITION
“Developer”
, 2020
DISPOSITION AND DEVELOPMENT AGREEMENT
THIS DISPOSITION AND DEVELOPMENT AGREEMENT (this “Agreement”), dated
as of ___________________, 2020 (the “Effective Date”) is entered into by and between the CITY
OF PALM DESERT, a California municipal corporation (the “City”), and THE COACHELLA
VALLEY HOUSING COALITION, a California non-profit public benefit corporation (the
“Developer”). The City and the Developer are hereinafter sometimes individually referred to as a
“party” and collectively referred to as the “parties”.
R E C I T A L S
This Agreement is entered into with reference to the following facts:
A. The City owns the real property located in the City of Palm Desert, County of
Riverside, State of California, described on Exhibit “A” (the “Property”). The Developer wishes
to acquire the Property from the City to enable the Developer to complete a self-help project
consisting of fourteen (14) detached single family homes that will be sold and restricted to Very
Low and Low Income Households (the “Project”).
B. The Project is a self-help housing project in which no fewer than 500 hours of
construction work associated with the homes are to be performed by the homebuyers;
consequently, the Project should not be subject to prevailing wages by virtue of California Labor
Code Section 1720(c)(5)(A).
C. A material inducement to the City to enter into this Agreement is the agreement by
the Developer to develop the Project and sell the homes within a limited period of time, and the
City would be unwilling to enter into this Agreement in the absence of an enforceable commitment
by the Developer to develop the Project and sell the homes within such period(s) of time.
NOW, THEREFORE, in reliance upon the foregoing Recitals, in consideration of the
mutual covenants in this Agreement and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
ARTICLE 1.
DEFINITIONS
1.1 Definitions. The following terms as used in this Agreement shall have the
meanings given unless expressly provided to the contrary:
1.1.1 AHRA means the Affordable Housing Restriction Agreement in the form
attached hereto as Exhibit “F”.
1.1.2 Agreement means this Disposition and Development Agreement.
1.1.3 Buyers is defined in Section 5.3.1.
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1.1.4 Certificate of Completion means a certificate described in Section 3.10, to
be provided by the City to the Developer upon satisfactory completion of its obligations as
described therein.
1.1.5 Certificate of Occupancy means a final certificate of occupancy issued by
the City for each home.
1.1.6 City means the City of Palm Desert, a municipal corporation, exercising
governmental functions and powers, and organized and existing under the laws of the State of
California. The principal office of the City is located at 73-510 Fred Waring Drive, Palm Desert,
CA 92260-2578.
1.1.7 Close of Escrow and Closing are defined in Section 2.3.2.
1.1.8 Commencement Date is defined in Section 3.1.1.
1.1.9 Completion Date is defined in Section 3.1.1.
1.1.10 Construction Administration Agreement is defined in Section 2.3.3(h).
1.1.11 Construction Loans is defined in Section 2.4.7.
1.1.12 Deed of Trust means the Deed of Trust, Assignment of Rents and Security
Agreement in the form attached hereto as Exhibit “F” and incorporated herein by this reference.
1.1.13 Deemed Disapproved Exceptions is defined in Section 2.5.2.
1.1.14 Default is defined in Section 6.1.
1.1.15 Developer means The Coachella Valley Housing Coalition, a California
non-profit public benefit corporation, and its successors and assigns. The principal office of the
Developer for purposes of this Agreement is 45-701 Monroe Street, Suite G, Indio, CA 92201.
1.1.16 Disapproved Exceptions is defined in Section 2.5.2.
1.1.17 Disapproval Notice is defined in Section 2.5.2.
1.1.18 Due Diligence Period is defined in Section 2.7.1.
1.1.19 Escrow is defined in Section 2.3.1.
1.1.20 Escrow Holder means Foresite Escrow, Inc. The principal office of the
Escrow Holder for purposes of this Agreement is 41-995 Boardwalk, Suite G2, Palm Desert, CA
92211.
1.1.21 Force Majeure Delay is defined in Section 6.7.
1.1.22 Grant Deed is defined in Section 2.5.2.
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1.1.23 Hazardous Materials means any chemical, material or substance now or
hereafter defined as or included in the definition of “hazardous substances,” “hazardous wastes,”
“hazardous materials,” “extremely hazardous waste,” “restricted hazardous waste,” “toxic
substances,” “pollutant or contaminant,” “imminently hazardous chemical substance or mixture,”
“hazardous air pollutant,” “toxic pollutant,” or words of similar import under any local, state or
federal law or under the regulations adopted or publications promulgated pursuant thereto
applicable to the Property, including, without limitation: the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, 42 U.S.C. § 9601, et seq. (“CERCLA”); the
Hazardous Materials Transportation Act, as amended, 49 U.S.C. § 1801, et seq.; the Federal Water
Pollution Control Act, as amended, 33 U.S.C. § 1251, et seq.; and the Resource Conservation and
Recovery Act of 1976, 42 U.S.C. § 6901, et seq. The term “Hazardous Materials” shall also
include any of the following: any and all toxic or hazardous substances, materials or wastes listed
in the United States Department of Transportation Table (49 CFR 172.101) or by the
Environmental Protection Agency as hazardous substances (40 CFR Part 302 ) and in any and all
amendments thereto in effect as of the date of the close of any escrow; oil, petroleum, petroleum
products (including, without limitation, crude oil or any fraction thereof), natural gas, natural gas
liquids, liquefied natural gas or synthetic gas usable for fuel, not otherwise designated as a
hazardous substance under CERCLA; any substance which is toxic, explosive, corrosive, reactive,
flammable, infectious or radioactive (including any source, special nuclear or by-product material
as defined at 42 U.S.C. § 2011, et seq.), carcinogenic, mutagenic, or otherwise hazardous and is
or becomes regulated by any governmental authority; asbestos in any form; urea formaldehyde
foam insulation; transformers or other equipment which contain diele ctric fluid containing levels
of polychlorinated biphenyl’s; radon gas; or any other chemical, material or substance (i) which
poses a hazard to the Property, to adjacent properties, or to persons on or about the Property,
(ii) which causes the Property to be in violation of any of the aforementioned laws or regulations,
or (iii) the presence of which on or in the Property requires investigation, reporting or remediation
under any such laws or regulations.
1.1.24 Holder is defined in Section 4.1.1.
1.1.25 Improvements means the improvements described in Section 3.1.2.
1.1.26 Outside Date is defined in Section 2.3.2.
1.1.27 Plans and Specifications means all plans and specifications for the Project
that must be submitted to City to obtain construction-related permits for the Project.
1.1.28 Project is defined in Recital A
1.1.29 Promissory Note means the CVHC Promissory Note in the form attached
hereto as Exhibit “F” and incorporated herein by this reference.
1.1.30 Property is defined in Recital A.
1.1.31 Property Documents is defined in Section 2.7.2.
1.1.32 Qualified Household is defined in Section 4(d) of the form of AHRA
attached hereto as Exhibit “F”.
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1.1.33 Released Parties is defined in Section 2.8.
1.1.34 Review Period is defined in Section 2.5.2.
1.1.35 Right of Entry Agreement is defined in Section 2.7.1.
1.1.36 Schedule of Performance means the schedule attached hereto as Exhibit “B”
and incorporated herein by this reference.
1.1.37 Scope of Development means the description of the Improvements
contained in Exhibit “D” attached hereto and incorporated herein by this reference.
1.1.38 Survey is defined in Section 2.5.1.
1.1.39 Title Company is defined in Section 2.5.3.
1.1.40 Title Policy is defined in Section 2.5.3.
1.1.41 Title Report is defined in Section 2.5.1.
1.1.42 Transaction Costs means all attorneys’ fees, staff time, appraisal costs, and
costs of financial advisors and other consultants.
1.1.43 Transfer is defined in Section 4.1.1.
1.1.44 Unit shall mean one of the 14 single family homes constructed on the
Property as contemplated by this Agreement.
ARTICLE 2.
CONVEYANCE OF THE PROPERTY TO DEVELOPER
2.1 Conveyance. Subject to and in accordance with the terms and conditions herein set
forth, the City agrees to convey the Property to the Developer, and the Developer agrees to acquire
the Property from the City.
2.2 Consideration; City Loan. The City shall convey the Property to the Developer for
Five Hundred Sixty Thousand Do llars ($560,000.00) (“Purchase Price”) but City will loan the
Purchase Price to Developer on the terms set forth in the form of promissory note attached hereto
as part of Exhibit “F” which will be secured by a deed of trust on the Property in the form attached
hereto as part of Exhibit “F”. The City’s conveyance of the Property is also in consideration for
the Developer’s agreement to timely construct the Improvements (or cause to be constructed) and
timely sell the Units, and the other covenants of the Developer and restrictions set forth in the
AHRA.
2.3 Escrow.
2.3.1 Opening of Escrow. Upon the parties’ full execution of this Agreement,
the Developer and the City shall deliver a copy of this executed Agreement to, and open an escrow
(the “Escrow”) with, the Escrow Holder for the transfer of the Property to the Developer. This
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Agreement shall serve as the escrow instructions for the Escrow, together with any reasonable
supplemental escrow instructions required by Escrow Holder or delivered by each party that are
consistent with this Agreement. The Escrow Holder is authorized to act under this Agreement,
and to carry out its duties as the Escrow Holder hereunder.
2.3.2 Close of Escrow. “Close of Escrow” or “Closing” means the date Escrow
Ho lder causes the Grant Deed (as hereinafter defined) to be recorded in the Official Records of the
County of Riverside. Possession of the Property shall be delivered to the Developer on the Close
of Escrow. Close of Escrow shall occur on or before 5:00 p.m., one hundred and fifty (150) days
from the Effective Date (the “Outside Date”). If for any reason other than a Default by the City or
Developer the Closing does not occur on or before the Outside Date, the City Manager may
terminate this Agreement by written notice to Developer, in which case all monies and documents
deposited into the Escrow shall be promptly returned to the appropriate party, and each party shall
pay its one-half (1/2) of any Escrow charges and fees in connection with such termination.
2.3.3 Delivery of Closing Documents.
(a) The City and Developer agree to deliver to Escrow Holder, one (1)
business day prior to the Close of Escrow, the following instruments and documents, the delivery
of each of which shall be a condition precedent to the Close of Escrow:
(b) The Grant Deed, duly executed and acknowledged by the City,
conveying a fee simple interest in the Property to Developer, subject only to such exceptions to
title as Developer may have approved or have been deemed to approve pursuant to Section 2.5.2;
(c) The AHRA duly executed and acknowledged by the Developer and
City;
(d) The Promissory Note duly executed by the Developer and the Deed
of Trust duly executed and ack nowledged by the Developer, in the forms attached hereto as Exhibit
“F”;
(e) A Notice of Affordability Restrictions on Transfer of Property in
the form attached hereto as Exhibit “G” duly executed and acknowledged by City and Developer;
(f) The City’s affidavit as contemplated by California Revenue and
Taxation Code Section 18662;
(g) A Certification of Non-Foreign Status signed by City in accordance
with Internal Revenue Code Section 1445;
(h) A fully-executed Construction Administration Agreement by and
among the Developer, the City and the maker(s) of the Construction Loans, and by which the
Developer and such makers are obligated to assist the Owners in the administration of the
Construction Lo ans, and which shall be in form and substance acceptable to the City (the
“Construction Administration Agreement”); and
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(i) Such proof of the City’s and Developer’s authority and authorization
to enter into this transaction as the Title Company may reasonably require in order to issue the
Title Policy.
The City and the Developer further agree to execute such reasonable and customary
additional documents, and such additional escrow instructions, as may be reasonably required to
close the transaction which is the subject of this Agreement pursuant to the terms hereof.
2.4 Conditions to Close of Escrow. The obligations of the City and Developer to close
the transaction which is the subject of this Agreement shall be subject to the satisfaction, or waiver
in writing by the party benefited thereby, of each of the following conditions:
2.4.1 For the benefit of the City, the Developer shall have deposited such funds
as are necessary to pay for costs and expenses payable by Develo per hereunder.
2.4.2 For the benefit of the City, all actions and deliveries to be undertaken or
made by Developer on or prior to the Close of Escrow shall have occurred.
2.4.3 For the benefit of the Developer, all actions and deliveries to be undertaken
or made by the City on or prior to the Close of Escrow shall have occurred.
2.4.4 For the benefit of the City, the Developer shall have submitted an
Architectural Review Application along with the fee therefor and preliminary front elev ation for
the Project and the Improvements and they shall have been accepted by the City, and the City shall
have issued (or shall be committed to issue, subject to payment of fees at Close of Escrow through
Escrow) all permits necessary to construct the I mprovements.
2.4.5 For the benefit of the City, the Developer shall have delivered to the City
Manager, and the City Manager shall have reasonably approved, a comprehensive line item
schedule of sources and uses of funds for the Project and the Imp rovements.
2.4.6 For the benefit of City, Developer shall have provided to City Manager
reasonable evidence of the availability of all equity funds which, in addition to the proceeds of the
Construction Loan, will be necessary to pay the costs of the Improvements.
2.4.7 For the benefit of the City, it shall have received a commitment (in form
and substance acceptable to City, from each of the makers of the construction loans necessary to
finance the construction of the Improvements (collective ly, the “Construction Loans”).
2.4.8 For the benefit of the City, the representations and warranties of the
Developer contained in this Agreement shall be true and correct in all material respects as of the
Close of Escrow.
2.4.9 For the benefit of the Developer, Title Company shall be irrevocably
committed to issuing in favor of the Developer the Title Policy, in form and substance, and with
endorsements reasonably acceptable to the Developer, as provided in Section 2.5.3.
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2.4.10 For the benefit of the City, Developer shall have delivered to the City
Manager a list of individuals who are anticipated to become the Owners, or a sales program that
describes the process the Developer will implement to select and qualify the Qualified Households.
2.5 Condition of Title; Survey; Title Insurance.
2.5.1 As soon as reasonably practicable after the parties’ full execution of this
Agreement, the City shall deliver to the Developer’s primary contact, Emilia Mojica via email at
Emilia.Mojica@cvhc.org for the Developer’s review and approval: a current preliminary title
report covering the Property (the “Title Report”) with hyperlinks to any recorded instruments noted
as exceptions thereon. The Developer at its sole expense may obtain an ALTA survey of the
Property (“Survey”) in connection with the issuance of the Title Policy. Any current or updated
survey of the Property undertaken by the Developer shall be prepared by a registered surveyor and
shall be completed within thirty (30) days following the Developer’s receipt of the Title Report.
2.5.2 The Developer shall have twenty (20) working days after the date of the
Developer’s receipt of the Title Report and the Survey (if the Developer obtains a Survey as
described in Section 2.5.1) (the “Review Period”) to disapprove any exceptions to title shown on
the Title Report or reflected on the Survey (collectively, “Disapproved Exceptions”) and to provide
City with notice thereof describing the defect with reasonable particularity (the “Disapproval
Notice”). Any exceptions to title not disapproved within the Review Period shall be deemed
approved. Within ten (10) days after the City’s receipt of the Disapproval Notice, the City shall
notify the Developer whether or not the City intends to remove the Disapproved Exceptions. The
City shall be under no obligation to remove any Disapproved Exception, but the City agrees to
cooperate in good faith with the Developer in the Developer’s efforts to eliminate any Disapproved
Exception, provided the City is not obligated to pay any sum or assume any liability in connection
with the elimination of any such Disapproved Exception. If the City notifies the Developer that
the City intends to eliminate any Disapproved Exception, the City shall do so at least five (5) days
prior to the Close of Escrow. If the City notifies the Developer that the City does not intend to
eliminate any Disapproved Exception(s), the Developer, by notifying the City within five (5) days
after its receipt of such notice, may elect to terminate this Agreement or take the Property subject
to the Disapproved Exception(s). Notwithstanding the foregoing, the City covenants to pay in full
all loans secured by deeds of trust, any mechanics’ and materialmen’s liens, and any other
monetary liens (other than liens for charges, assessments, taxes, and impositions subject to
proration as provided in Section 2.6.2) (collectively, the “Deemed Disapproved Exceptions”) prior
to, or concurrently with, the Close of Escrow. The Title Policy shall includ e, at Developer’s cost,
such endorsements as the Developer shall reasonably request. Any endorsements to the Title
Policy are to be paid for by the Developer. Notwithstanding the foregoing, the Developer may
notify the City of its disapproval of an exception to title (including exceptions reflected on the
Survey) first raised by Title Company or the surveyor after the Review Period, or otherwise first
disclosed to the Developer after the Review Period, by the earlier of (a) within ten (10) days after
the same was first raised or disclosed to the Developer in writing, and (b) fifteen (15) days prior
to the Close of Escrow. With respect to any exceptions disapproved by the Developer in such
notice, the City shall have the same option to eliminate such exceptions that applies to Disapproved
Exceptions, and the Developer shall have the same option to accept title subject to such exceptions
or to terminate this Agreement. At the Close of Escrow, the Developer shall receive title to the
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Property by grant deed substantially in the form attached hereto as Exhibit E and incorporated
herein by this reference (the “Grant Deed”).
2.5.3 At Closing, the Developer shall receive a CLTA Owner’s Standard
Coverage Policy of Title Insurance (the “Title Policy”), togethe r with all endorsements requested
by the Developer, issued by First American Title Insurance Company (“Title Company”) in an
amount to be designated by the Developer, insuring that title to the Property is free and clear of
all Disapproved Exceptions, all Deemed Disapproved Exceptions and all liens, easements,
covenants, conditions, restrictions, and other encumbrances of record except (a) current taxes and
assessments of record, but not any overdue or delinquent taxes or assessments, (b) the matters set
forth or referenced in the Grant Deed, the AHRA, and the Deed of Trust, and (c) such other
encumbrances as the Developer approves in writing including those reflected in the Title Report
for the Property approved by Developer, or as are deemed approved by D eveloper as provided in
Section 2.5.2. The Developer may obtain an extended coverage policy of title insurance at its own
cost.
2.6 Escrow and Title Charges; Prorations.
2.6.1 The Developer shall be solely responsible for and shall pay all document ary
transfer taxes, and the costs of: (i) any Survey obtained by the Developer, (ii) all title insurance
premiums for the Title Policy, (iii) any endorsements to the Title Policy, and (iv) all other usual
and customary costs, expense and charges relating to the escrow and conveyance of title to the
Property, including without limitation, recording fees, document preparation charges and escrow
fees. Each party shall be responsible for its own Transaction Costs.
2.6.2 Property taxes shall not be prorated as City is exempt from property taxes;
however, City will cooperate with Developer after the closing, if necessary, in connection with
any tax refunds or adjustments sought by Developer from the County assessor. All non-delinquent
and current assessments shall be pro -rated as of the Close of Escrow based on the actual current
statements or tax bills, if any. The provisions of this Section 2.6.2 shall survive the Close of
Escrow and the recordation of the Grant Deed and shall not be deemed merged into the Grant Deed
upon its recordation.
2.7 Due Diligence Period; Access.
2.7.1 During the period (the “Due Diligence Period”) commencing on the
Effective Date and ending at 5:00 p.m. on the date which is one hundred and twenty (120) days
thereafter, the Developer may inspect the Property as necessary to (i) approve all zoning and land
use matters relating to the Property, and (ii) approve the physical condition of the Property. Subject
to the terms of the Right of Entry and Access Agreement in the fo rm of which is attached hereto
as Exhibit “C” (the “Right of Entry Agreement”), the Developer and its agents shall have the right
to enter upon the Property during the Due Diligence Period to make inspections and other
examinations of the Property and the improvements thereon, including without limitation, the right
to perform surveys, soil and geological tests of the Property and the right to perform environmental
site assessments and studies of the Property. Prior to the Developer’s entry upon the Property, the
parties shall execute and deliver the Right of Entry Agreement. The City shall reasonably
cooperate with the Developer in its conduct of the due diligence review during the Due Diligence
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Period. In the event the Developer does not approve of the condition of the Property by written
notice to the City prior to the expiration of the Due Diligence Period, this Agreement shall
terminate, and, except as otherwise expressly stated in this Agreement, neither party shall have
any further rights or obligat ions to the other party.
2.7.2 The City has delivered to the Developer copies of those certain documents
related to the Property which are listed in Exhibit “H” attached hereto (collectively, the “Property
Documents”). In addition, prior to the end of the Due Diligence Period, the Developer may, upon
five (5) business days’ notice to the City, review any additional documents relating to the Property
at the City’s offices. The City does not expressly or impliedly represent or warrant that the contents
of the Property Documents are complete or accurate.
2.8 Condition of the Property. The Property shall be conveyed from the City to the
Developer on an “AS IS” condition and basis with all faults and without representation or warranty,
express or implied, and the Developer agrees that the City has no obligation to make modifications,
replacements or improvements thereto. Except as expressly and specifically provided in this
Agreement, the Developer and anyone claiming by, through or under the Developer hereby waives
its right to recover from and fully and irrevocably releases the City and the City, and their
respective council members, board members, officers, directors, employees, representatives,
agents, advisors, servants, independent contractors, att orneys, successors and assigns, and all
persons, firms, corporations and organizations acting on the City’s or City’s behalf (collectively,
the “Released Parties”) from any and all claims, responsibility and/or liability that the Developer
may now have or hereafter acquire against any of the Released Parties for any claims, costs, losses,
liabilities, damages, expenses, demand, action or causes of action arising from or related to the
condition of or title to the Property. This release includes claims of w hich the Developer is
presently unaware or which the Developer does not presently suspect to exist which, if known by
the Developer, would materially affect the Developer’s release of the Released Parties. If the
Property is not in a condition suitable fo r the intended use or uses, then it is the sole responsibility
and obligation of the Developer to take such action as may be necessary to place the Property in a
condition suitable for development of the Project thereon. Except as specifically provided in this
Agreement and without limiting the generality of the foregoing, THE CITY MAKES NO
REPRESENTATION OR WARRANTY AS TO (i) THE VALUE OF THE PROPERTY; (ii) THE
INCOME TO BE DERIVED FROM THE PROPERTY; (iii) THE HABITABILITY,
MARKETABILITY, PROFITABILITY, MERCHANTABILITY OR FITNESS FOR
PARTICULAR USE OF THE PROPERTY; (iv) THE MANNER, QUALITY, STATE OF
REPAIR OR CONDITION OF THE PROPERTY; (v) THE COMPLIANCE OF OR BY THE
PROPERTY OR ITS OPERATION WITH ANY LAWS, RULES, ORDINANCES OR
REGULATIONS OF ANY APPLICABLE GOVERNMENTAL AUTHORITY OR BODY;
(vi) COMPLIANCE WITH ANY ENVIRONMENTAL PROTECTION OR POLLUTION
LAWS, RULES, REGULATIONS, ORDERS OR REQUIREMENTS; (vii) THE PRESENCE OR
ABSENCE OF HAZARDOUS MATERIALS AT, ON, UNDER OR ADJACENT TO THE
PROPERTY; (viii) THE FACT THAT ALL OR A PORTION OF THE PROPERTY MAY BE
LOCATED ON OR NEAR AN EARTHQUAKE FAULT LINE; OR (ix) WITH RESPECT TO
ANY OTHER MATTER, THE DEVELOPER FURTHER ACKNOWLEDGES AND AGREES
THAT HAVING BEEN GIVEN THE OPPORTUNITY TO INSPECT THE PROPERTY AND
REVIEW INFORMATION AND DOCUMENTATION AFFECTING THE PROPERTY, THE
DEVELOPER IS RELYING SOLELY ON ITS OWN INVESTIGATION OF THE PROPERTY
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AND REVIEW OF SUCH INFORMATION AND DOCUMENTATION AND NOT ON ANY
INFORMATION PROVIDED OR TO BE PROVIDED BY THE CITY.
THE DEVELOPER HEREBY ACKNOWLEDGES THAT IT HAS READ AND IS
FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542,
WHICH IS SET FORTH BELOW:
“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS
WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO
EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING
THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST
HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT
WITH THE DEBTOR.”
BY INITIALING BELOW, DEVELOPER HEREBY WAIVES THE PROVISIONS OF
SECTION 1542 SOLELY IN CONNECTION WITH THE MATTERS WHICH ARE THE
SUBJECT OF THE FOREGOING WAIVERS AND RELEASES.
Developer’s Initials______________
The waivers and releases by the Developer herein contained shall survive the Close of
Escrow and the recordation of the Grant Deed and shall not be deemed merged int o the Grant Deed
upon its recordation.
2.9 Escrow Holder.
2.9.1 Escrow Holder is authorized and instructed to:
(a) Pay and charge the Developer for any charges payable by the
Developer under this Article. Before such payments are made, the Escrow Holder shall notify the
City and the Developer of the fees, charges, and costs necessary to close the Escrow;
(b) Pay and charge the City for any charges payable by the City under
this Article. Before such payments are made, the Escrow Holder shall notify the City and the
Developer of the fees, charges, and costs necessary to close the Escrow;
(c) Disburse funds and deliver the Grant Deed and other documents to
the parties entitled thereto when the conditions o f the Escrow and this Agreement have been
fulfilled by the City and the Developer; and
(d) Record the Grant Deed, the AHRA, Deed of Trust, Notice and any
other instruments delivered through the Escrow, if necessary or proper, to vest title in the
Developer in accordance with the terms and provisions of this Agreement.
2.9.2 Any amendment of these escrow instructions shall be in writing and signed
by both the City and the Developer; provided, that each of the City and Developer may provide
supplemental escrow instructions consistent herewith.
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2.9.3 All communications from the Escrow Holder to the City or the Developer
shall be directed to the addresses and in the manner established in Section 8.1 of this Agreement
for notices, dema nds and communications between the City and the Developer.
2.9.4 The responsibility of the Escrow Holder under this Agreement is limited to
performance of the obligations imposed upon it under this Article, and any amendments hereto.
ARTICLE 3.
DEVELOPMENT OF THE PROPERTY
3.1 Schedule of Performance and Scope of Development .
3.1.1 The Developer shall, subject to extension of construction-related deadlines
for force majeure delays as provided in Section 6.7 below, comply with the Schedule o f
Performance attached as Exhibit “B”. The Developer shall undertake and complete its obligations
described in the Scope of Development attached hereto as Exhibit “D” and Section 3.1.2
(“Improvements”). Developer shall cause at least forty percent (40%) of the labor for the
construction of each Unit to be provided by the buyer of the Unit, and shall require that no fewer
than 500 hours of construction work be performed by the buyers of the Units (“Buyers”).
3.1.2 The Improvements shall include all public infrastructure improvements
associated with the lots and all submittals and approvals as provided in the City’s Community
Development Department’s development and permit review procedures for residential projects as
identified in the Architectural Review Application for the Project and the Improvements. The
Developer shall also comply with any and all applicable federal, state and local laws, rules and
regulations, and any applicable mitigation measures adopted pursuant to the California
Environmental Quality Act.
3.2 Cost of Construction. The cost of constructing the Improvements, together with all
related improvements, as set forth in the Scope of Development or otherwise required by the City,
City Engineer, or City Planner, shall be borne solely by the Developer, or its successor and assigns.
The parties hereby acknowledge and agree that any increase in costs above the amounts projected
or assumed by Developer, or decreases in revenues below the amounts projected or assumed by
Developer, shall be at the sole financial risk of Developer, or its successors and assigns.
3.3 Further Development Matters. The Developer understands and agrees that as a
condition of the conveyance of the Property the Developer shall develop, or cause to be developed,
single-family residences in accordance with the Scope of Developme nt. The Developer shall
endeavor to install as many features set forth in the Scope of Development as reasonably possible;
however, any alternative features and/or products may be proposed that will provide more effective
features or better performance or cost savings. All such alternative features and/or products shall
be subject to the prior approval of the City which shall not be unreasonably withheld or delayed.
The Scope of Development may be revised from time to time as necessary and if mutually ag reed
upon in writing between Developer and City.
3.4 Progress of Construction. During construction of the Improvements on the
Property, the Developer shall submit to the City within fifteen (15) working days following each
request of the City therefore (which requests shall be submitted no more frequently than monthly),
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a written report of the progress to date of the construction. The report shall be in such form and
detail as to reasonably inform the City of the status of construction to date, and shall include a
reasonable number of photographs (if so requested by the City) taken since the last report by the
Developer.
3.5 Rights of Access. In addition to those rights of access to and across the Property to
which the City may be entitled by law, and as additionally provided in the Scope of Development,
members of the staff of the City shall have a reasonable right of access to the Property, without
charge or fee, at any reasonable time upon reasonable notice, to inspect the work being performed
at the Property.
3.6 Local, State and Federal Laws. The Developer shall carry out the construction of
the Improvements in conformity with all applicable laws, including all applicable federal, state
and local occupation, safety and health laws, rules, regulations and standards. The Developer
agrees to indemnify, defend and hold the City harmless from and against any cost, expense, claim,
charge or liability relating to or arising directly or indirectly from any breach by or failure of the
Developer or its contractor(s) or agents to comply with laws, rules or regulations. The
indemnification obligations described in this Section shall survive the termination of this
Agreement and the recordation of the Grant Deed and shall not be deemed merged into the Grant
Deed upon its recordation.
3.7 Nondiscrimination During Construction. Developer for itself and its successors
and assigns agrees that in the construction of the improvements on the Property provided for in
this Agreement:
3.7.1 Developer will not discriminate against any employee, contractors,
subcontractors, program participants or applicant for employment because of race, color, religion,
creed, national origin, ancestry, age, marital status, sex or sexual orientation. Developer will take
reasonable action to ensure that applicants are employed, and that employees are treated during
employment without regard to their race, color, religion, creed, national origin, ancestry, physical
handicap, medical condition, age, marital status, sex or sexual orientat ion. Such action shall
include, but not be limited to, the following: employment, upgrading, demotion, or transfer;
recruitment or recruitment advertising, layoff or termination; rates of pay or other forms of
compensation; and selection for training, including apprenticeship. Developer agrees to post in
conspicuous places, available to employees, contractors, subcontractors, program participants and
applicants for employment, notices setting forth the provisions of this nondiscrimination clause.
3.7.2 Developer will, in all solicitations or advertisements for employees placed
by or on behalf of Developer, state that all qualified applicants will receive consideration for
employment without regard to race, color, religion, creed, national origin, a ncestry, disability, age,
marital status, sex or sexual orientation.
3.7.3 Developer will cause the foregoing provisions to be inserted in all contracts
for any work covered by this Agreement so that such provisions will be binding upon each
contractor and subcontractor, provided that the foregoing provisions shall not apply to contracts or
subcontracts for standard commercial supplies or raw materials. Developer shall allow
representatives of City access to its employment records related to this Ag reement during regular
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business hours to verify compliance with these provisions when so requested by City upon
reasonable notice.
3.8 Zoning and Land Use Requirements; Environmental Review.
3.8.1 Developer will attend all proceedings which may be necessary so that the
development and use of the Property shall be in conformity with applicable zoning and general
plan requirements of the City.
3.8.2 Developer shall take all necessary steps so that the development and use of
the Property shall be in conformity with applicable zoning and general plan requirements,
including the conditions of approval of any required land use entitlements, and that all applicable
environmental mitigation measures and other requirements shall have been complied with.
3.9 No Authority Created. In performing this Agreement, the Developer is an
independent contractor and not the agent of the City. The City is not an agent of the Developer.
The City shall not have any responsibility whatsoever for payment to any contractor or supplier of
the Developer.
3.10 Certificate of Completion.
3.10.1 After (i) the Developer’s completion of the Improvements, and (ii) the
City’s issuance of a Notice of Action pursuant to the Architectural Review Application and
Residential Building Construction Plan approval from the City’s Building and Safety Department,
the City shall furnish the Developer with a Certificate of Completion under this Section 3.10.1
within thirty (30) days after such written request. The Certifica te of Completion shall be in the
form attached hereto as Exhibit “I”.
3.10.2 If the City refuses or fails within thirty (30) days after receipt of a written
request from the Developer to issue the Certificate of Completion, the City shall provide the
Developer with a written statement of the reasons the City refused or failed to furnish a Certificate
of Completion. The statement shall also specify the actions the Developer must take to obtain a
Certificate of Completion. If the reason for such refusal is confined to the immediate availability
of specific items or material for landscaping or any other non-structural matters, and the costs of
completion does not exceed Ten Thousand Dollars ($10,000), the City shall issue its Certificate of
Completion upon the Developer’s depositing with the City cash or an irrevocable standby letter of
credit issued by a bank or other financial institution acceptable to the City in an amount equal to
the fair value of the work not yet completed as determined by the City. The determination of fair
value shall be made by the City in the exercise of its reasonable judgment.
3.10.3 The Certificate of Completion shall not constitute evidence of compliance
with or satisfaction of any obligation of the Developer to any holder of a mortgage, trust deed or
other security instrument. Such Certificate of Completion shall not be construed as a notice of
completion as described in California Civil Code Section 3093.
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ARTICLE 4.
LIMITATIONS ON TRANSFERS AND SECURITY INTERESTS
4.1 Limitation As To Transfer of the Property and Assignment of Agreement .
4.1.1 Prior to issuance of the Certificate of Completion, the Developer shall not
sell, lease, assign, transfer, mortgage (other than as evidenced by the Deed of Trust), hypothec ate,
or convey (collectively, a “Transfer”) the Property or any part thereof. Except as otherwise
expressly provided herein, the Developer shall not assign this Agreement or any of the Developer’s
rights or obligations hereunder, without the City’s prior written consent, in the City’s reasonable
discretion. The Developer acknowledges that the identity of the Developer is of particular concern
to the City, and it is because of the Developer’s identity that the City has entered into this
Agreement with the Developer. Except for any Transfer permitted pursuant to this Section 4.1,
and except for any lender of record holding any mortgage, deed of trust or other security interest
contemplated or permitted by this Agreement (“Holder”) that has taken possession of the Property,
no voluntary or involuntary successor in interest of the Developer shall acquire any rights or
powers under this Agreement. No transfer or assignment of the Developer’s interest hereunder
without the City’s prior written approval shall be deemed to release the Developer from the
obligations of the Developer hereunder.
4.2 Rights of Holders. The City shall deliver a copy of any notice or demand to the
Developer concerning any breach or default by the Developer under this Agreement to each Holder
who has previously made a written request to the City for special notice hereunder. Any notice of
breach or default by the Developer shall not be effective against any such Holder unless given to
such Holder. Such Holder shall have the right at its option to cure or remedy any such default and
to add the cost thereof to the secured debt and the lien of its security interest. If such breach or
default can only be remedied or cured by such Holder upon obtaining possession, such Holder may
remedy or cure such breach or default within a reasonable period of time after obtaining
possession, provided such Holder seeks possession with diligence through a receiver or
foreclosure. Such Holder shall not be permitted to undertake or continue the construction or
completion of the Improvements beyond the extent necessary to conserve or complete the
Improvements.
4.3 Noninterference with Holders. The provisions of this Agreement do not limit the
right of Holders to foreclose or otherwise enforce any mortgage, d eed of trust, or other security
instrument encumbering all or any portion of the Property, and the Improvements thereon, or to
pursue any remedies for the enforcement of any pledge or lien encumbering such portions of the
Property. In the event of a forec losure sale under any such mortgage, deed of trust or other lien or
encumbrance, or sale pursuant to any power of sale contained in any such mortgage or deed of
trust, the purchaser or purchasers and their successors and assigns, and such portions of the
Property shall be, and shall continue to be, subject to all of the conditions, restrictions and
covenants of all documents and instruments recorded pursuant to this Agreement, including,
without limitation, the restrictions set forth in the Grant Deed, Deed of Trust and the AHRA. The
City agrees to execute such further documentation regarding the rights of any Holder as is
customary with respect to construction or permanent financing, as the case may be, to the extent
that such documentation is reasonably requested by any Holder and is reasonably approved by the
City.
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ARTICLE 5.
USE OF THE PROPERTY
5.1 Use of Property. Developer shall develop the Property and any portion thereof only
for the purposes described in the Scope of Development, and for no other purposes. Developer
covenants and agrees for itself and its successors and assigns, and every successor in interest to
the Property, or any portion thereof, that during construction of the Improvements and thereafter,
Developer and such successors and assigns shall use the Property exclusively for the purposes
herein stated and shall not devote the Property to any uses which are inconsistent with this
Agreement, the AHRA or applicable City land use entitlements. Leasing of the Property or the
Improvements is expressly prohibited.
5.1.1 After the issuance of the Certificate of Completion, Developer shall not
make or permit to be made any substantial structural additions or modifications to the exterior of
the Improvements, or permit a use other than as set forth herein, without the prior written consent
of City.
5.2 Use and Operation Covenants. Developer hereby covenants and agrees to use and
operate the Property in conformity with the Municipal Code, and the affordability covenants
contained in the AHRA.
5.3 Sale of Property.
5.3.1 Developer Covenants. Developer shall cause at least forty percent (40%)
of the labor for the construction of each Unit to be provided by the buyer of each lot, and shall
require that such buyers perform no fe wer than 500 hours of construction work with respect to
each Unit. Developer agrees to sell lots within the Property and upon which the Units shall be
constructed (the “Lots”) only to Qualified Households and in accordance with this Section 5.3;
and the Lots shall be sold to Qualified Households on or before the date set forth in the Schedule
of Performance. The Developer shall remain available to each Qualified Household who buys a
Lot for at least one (1) year after the City’s issuance of a Certificate of Occupancy with respect to
the Unit constructed on the Lot, to answer questions that the Qualified Household may have about
the Purchaser’s Restrictive Agreement that each Qualified Household must sign and return when
it purchases a Lot.
5.3.2 Income of Buyer. Prior to the sale of the Lot, the Developer shall comply
with all requirements of the City related to qualifying buyers, including verifying the buyer’s
income and obtaining certifications that the buyer continues to be a Qualified Household .
5.3.3 Limitation on Sales Price. Developer shall sell each Unit at a price that
does not exceed an Affordable Housing Cost as defined in the AHRA.
5.3.4 City Buyer Assistance. The City may (at its option and in the exercise of
its sole discretion) provide financial assistance to a Qualified Household in compliance with any
City first time homebuyer affordable housing program.
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5.4 Maintenance of the Property. From and after the Close of Escrow to the date of its
sale as provided herein, De veloper shall reasonably maintain the Property and shall keep the
Property free from any accumulation of debris or waste materials.
5.5 Effect and Duration of Covenants. The covenants of Developer set forth in this
Agreement, shall, without regard to technical classification or designation, be binding on
Developer and any successor in interest to the Property, or any part thereof, for the benefit and in
favor of City, its successors and assigns, and the City. Except as otherwise set forth in this
Agreement, the covenants contained in this Agreement shall remain in effect from the Effective
Date to the date of the City’s issuance of a Certificate of Occupancy with respect to all of the Units.
The covenants against discrimination (as described in Section 5.7) shall remain in perpetuity.
5.6 Obligation to Refrain from Discrimination. The Developer covenants and agrees
for itself and its successors and assigns, and for every successor in interest to the Property, or any
part thereof, and their rights under this Agreement, that there shall be no discrimination against or
segregation of any person, or group of persons, on account of sex, marital status, age, handicap,
race, color, religion, creed, national origin or ancestry in the sale, lease, sublease, transfe r, use,
occupancy, tenure or enjoyment of the Property, and the Developer (itself or any person claiming
under or through the Developer) shall not establish or permit any such practice or practices of
discrimination or segregation with reference to the selection, location, number, use or occupancy
of tenants, lessees, subtenants, subleases, or vendors of the Property or any portion thereof. This
provision, which is required by law, shall not be construed as permitting the leasing of the Property.
5.7 Form of Nondiscrimination and Nonsegregation Clauses. All deeds or contracts
for sale shall contain the following nondiscrimination or nonsegregation clauses:
5.7.1 In deeds: “The grantee herein covenants by and for himself or herself, his
or her heirs, executors, administrators and assigns, and all persons claiming under or through them,
that there shall be no discrimination against or segregation of, any person or group of persons on
account of any basis listed in subdivision (a) or (d) of Sectio n 12955 of the California Government
Code, as those bases are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of
subdivision (p) of Section 12955, and Section 12955.2 of the California Government Code, in the
sale, transfer, use, occupancy, tenure or enjoyment of the premises herein conveyed, nor shall the
Grantee himself or herself, or any person claiming under or through him or her, establish or permit
any practice or practices of discrimination or segregation with reference to the s election, location,
number, use or occupancy of vendees in the premises herein conveyed. The foregoing covenants
shall run with the land.
Notwithstanding the immediately preceding paragraph, with respect to familial status, said
paragraph shall not be construed to apply to housing for older persons, as defined in Section
12955.9 of the California Government Code. With respect to familial status, nothing in said
paragraph shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of the
California Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51 and
Section 1360 of the California Civil Code and subdivisions (n), (o) and (p) of Section 12955 of the
California Government Code shall apply to said paragrap h.”
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5.7.2 In contracts: “The contracting party or parties hereby covenant by and for
himself or herself and their respective successors and assigns, that there shall be no discrimination
against or segregation of any person or group of persons, on account of any basis listed in
subdivision (a) or (d) of Section 12955 of the California Government Code, as those bases are
defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of subdivision (p) of
Section 12955, and Section 12955.2 of t he California Government Code, in the sale, transfer, use,
occupancy, tenure or enjoyment of the premises, nor shall the contracting party or parties, any
subcontracting party or parties, or their respective assigns or transferees, establish or permit any
such practice or practices of discrimination or segregation.
Notwithstanding the immediately preceding paragraph, with respect to familial status, said
paragraph shall not be construed to apply to housing for older persons, as defined in Section
12955.9 of the California Government Code. With respect to familial st atus, nothing in said
paragraph shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of the
California Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51 and
Section 1360 of the California Civil Code and subdivisions (n), (o) and (p) of Section 12955 of the
California Government Code shall apply to said paragraph.”
The foregoing provisions, which are required by law, shall not be construed to permit the
leasing of the Property or the Improvements.
ARTICLE 6.
EVENTS OF DEFAULT, REMEDIES AND TERMINATION
6.1 Developer Events of Defaults. Occurrence of any or all of the following shall
constitute a default (“Default”) under this Agreement:
6.1.1 The Developer’s failure to commence or complet e construction of the
Improvements in compliance with and as required by this Agreement, and the failure of Developer
to cure such breach within thirty (30) days after the City has given written notice to the defaulting
party; provided, however, if such br each is not reasonably curable within such thirty (30) day
period, then Developer shall be deemed in Default only if the Developer does not commence to
cure such breach within such thirty (30) day period and thereafter fails to diligently prosecute such
beach to completion;
6.1.2 Any breach of this Agreement by any party involving the payment of
money, and the continuance of such breach for a period of thirty (30) days after the non-defaulting
party has given written notice to the defaulting party;
6.1.3 A breach of any term of this Agreement by any party not involving the
payment of money and failure of such party to cure such breach within thirty (30) days after the
non-defaulting party has given written notice to the defaulting party; provid ed, however, if such
breach is not reasonably curable within such thirty (30) day period, then such party shall be deemed
in Default only if such party does not commence to cure such breach within such thirty (30) day
period and thereafter fails to diligently prosecute such breach to completion;
6.1.4 The Transfer of the Property, or any part thereof or interest therein, or any
rights or obligations of the Developer under this Agreement, in violation of the terms hereof, or
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Developer’s failure to sell the Property and Improvements to Qualified Households in compliance
with the AHRA;
6.1.5 The Developer’s failure or refusal to keep in force and effect any permit or
approval with respect to construction of the Improvements, and the Developer’s fa ilure to cure
such breach within thirty (30) calendar days after notice from the City of the Developer’s breach;
provided, however, if such breach is not reasonably curable within such thirty (30) day period,
then the Developer shall be deemed in Default o nly if the Developer does not commence to cure
such breach within such thirty (30) day period and thereafter fails to diligently prosecute such
breach to completion;
6.1.6 Filing of a petition in bankruptcy by or against any party or appointment of
a receiver or trustee of any property of any party, or an assignment by any party for the benefit of
creditors, or adjudication that such party is insolvent by a court, and the failure of such party to
cause such petition, appointment, or assignment to be removed or discharged within ninety (90)
days.
6.1.7 The Developer’s failure to keep and maintain the Property and the
Improvements in good condition and repair as required by this Agreement, including but not
limited to all front and back yard landscaping, connections to utilities (natural gas, water, electric),
and overall maintenance, prior to sale of the Property to Buyers and the Developer’s failure to cure
such breach within thirty (30) days after notice from the City of Developer’s breach; the City shall
have a right to enter onto the property and perform such deferred maintenance, and the Developer
shall promptly reimburse the City for all costs incurred by the City in performing such
maintenance.
6.2 Remedies in the Event of Default .
6.2.1 Remedies Prior to the Close of Escrow. In the event of a Default by any
party prior to the Close of Escrow, the non-defaulting party shall have the right to terminate this
Agreement provided it is not in breach of its obligation under this Agreeme nt, by delivering written
notice thereof to the defaulting party and to Escrow Holder, subject to the rights of the defaulting
party to cure such Default as provided in Section 6.1. Such party may seek against the defaulting
party any available remedies at law or equity, including but not limited to, the right to receive
damages or to pursue an action for specific performance.
6.2.2 Remedies for Default After the Close of Escrow. In the event of a Default
by any party after the Close of Escrow, subject to the rights of the defaulting party to cure such
default as provided in Section 6.1, the non-defaulting party may seek against the defaulting party
any available remedies at law or equity, including but not limited to the right to receive
reimbursement for its documented out-of-pocket costs related to this transaction or to pursue and
action for a specific performance, but in no event shall such non-defaulting party be entitled to
receive consequential or special damages, as applicable.
6.2.3 Special Remedy for Default by Developer. In addition to the provisions of
Section 6.2.2, in the event of a Default by Developer as described in Section 6.1.1, the City in the
exercise of its sole discretion, may terminate this Agreement and re -enter and take possession of
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the Property, with all Improvements thereon, and revest in the City title to the Property theretofore
conveyed to the Developer (or its successors in interest), other than any portion of the Property
which has been transferred to a Buyer, and take any and all actions necessary to commence and
complete the enforcement of its reversionary interest, and in such event the Developer agrees
promptly to take all actions and to execute all documents necessary to revert title to the Property
to the City free and clear of all liens and encumbrances created by or with the consent of Developer.
The foregoing right of reverter shall automatically terminate as to a Lot upon the transfer of such
Lot to a Qualified Household.
6.3 Liberal Construction. The rights established in this Agreement are to be interpreted
in light of the fact that the City will convey the Property to the Developer for development of the
Improvements thereon and their sale to Qualified Households and not for speculation in
undevelo ped land or for construction of different improvements. The Developer acknowledges
that it is of the essence of this Agreement that the Developer is obligated to complete all
Improvements.
6.4 No Personal Liability. No representative, agent, attorney, co nsultant, officer,
member, partner or employee of the City shall personally be liable to the Developer or any
successor in interest thereof, in the event of any Default or breach by such party, or for any amount
which may become due to such party or any successor in interest, on any obligation under the
terms of this Agreement.
6.5 Rights and Remedies are Cumulative. The rights and remedies of the parties are
cumulative, and the exercise by either party of one or more of such rights or remedies shall not
preclude the exercise by it, at the same time or different times, of any other rights or remedies for
the same default or any other default by any other party. Upon the occurrence of an event of
default, except as to rights and remedies expressly declared to be exclusive in this Agreement, the
injured party shall have all rights and remedies against the defaulting party as may be available at
law or in equity, or as provided in the Deed of Trust or AHRA, to cure, correct or remedy any
event of default, to o btain specific performance, to recover damages, or to obtain any other remedy
consistent with the purpose of this Agreement.
6.6 Inaction Not a Waiver of Default . Any failures or delays by either party in asserting
any of its rights and remedies as to any default shall not operate as a waiver of any default or of
any such rights or remedies, or deprive either such party of its rights to institute and maintain any
actions or proceedings which it may deem necessary to protect, assert or enforce any such rights
or remedies. The acceptance by a party of less than the full amount due from the other party shall
not constitute a waiver of such party’s right to demand and receive the full amount due, unless
such party executes a specific accord and satisfaction.
6.7 Force Majeure. Notwithstanding anything to the contrary in this Agreement,
Developers failure to commence or complete the Improvements as required by this Agreement,
the Scope of Development, and Schedule of Performance shall be a breach hereof; provid ed,
however, such nonperformance shall be excused when performance is prevented or delayed by
reason of any of the following forces reasonably beyond the control of such party (a “Force
Majeure Delay”): (i) civil disturbance, future order claiming jurisdiction, act of the public enemy,
war, riot, sabotage, blockade, embargo, (ii) any delay or failure to perform attributable to any
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strike, lockout or other labor or industrial disturbance (whether or not on the part of the employees
of either party hereto), or the unusual inability to secure customary materials, equipment, supplies
or labor through ordinary sources, but only to the extent that any such delay referred to in this
clause (ii) is an actual, industry wide condition affecting substantially all simi lar works of
construction in the Coachella Valley, California, area; (iii) delay attributable to the failure of the
Developer to secure plan checks, building permits, and other governmental permits or approvals
(including any failure to obtain a temporary certificate of occupancy) within a reasonable period
of time, where such delay is not due to any fault of the Developer; or (iv) delay attributable to
severe weather, lightning, earthquake, fire, storm, hurricane, tornado, flood, washout, explosion,
or any other similar cause (other than the availability of financing) beyond the reasonable control
of the Developer, or any of its contractors or other representatives. Any prevention, delay or
stoppage due to any Force Majeure Delay shall excuse the performance of the Developer for a
period of time equal to any such prevention, delay or stoppage (except the obligations with respect
to the payment of money or to close Escrow).
ARTICLE 7.
INSURANCE; INDEMNITY
7.1 Insurance.
7.1.1 Before commencement of any demolition or construction work by the
Developer on any portion of the Property, the Developer shall obtain and maintain at no cost or
expense to the City, with a reputable and financially responsible insurance company reasonably
acceptable to the City, commercial broad form general public liability insurance, insuring against
claims and liability for bodily injury, death, or property damage arising from the construction, use,
occupancy, condition, or operation of the Property, which insurance shall provide combined single
limit protection of at least $1,000,000.00 per occurrence and $2,000,000.00 in aggregate. Such
insurance policy shall name the Released Parties as additional insureds.
7.1.2 Before commencement of any demolition or construct ion work by the
Developer on any portion of the Property, the Developer shall obtain and maintain at no cost or
expense to the City, with a reputable and financially responsible insurance company reasonably
acceptable to the City, a policy of business auto mobile liability insurance written on a per
occurrence basis with a single limit liability in the amount of $1,000,000 bodily injury and property
damage. Said policy shall include coverage for owned, non-owned, leased and hired cars.
7.1.3 Before commencement of any demolition or construction work by the
Developer on any portion of the Property, the Developer shall obtain and maintain in force until
completion of such work (i) “all risk” builder’s risk insurance, including coverage for vandalism
and malicious mischief, in a form and amount and with a company reasonably acceptable to the
City, and (ii) workers’ compensation insurance covering all persons employed by the Developer
in connection with work on the Improvements, or any portion thereof. During the construction of
Improvements on any portion of the Property by the Developer, such builder’s risk insurance shall
cover improvements in place and all material and equipment at the job site furnished under
contract, but shall exclude contractors’, subcontractors’, and construction managers’ tools and
equipment and property owned by contractors’ and subcontractors’ employees.
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7.1.4 The Developer shall also furnish or cause to be furnished to the City
evidence satisfactory to the City that any contractor with whom it has contracted for the
performance of work on the Property or otherwise pursuant to this Agreement carries workers’
compensation insurance as required by law.
7.1.5 With respect to each policy of insurance required above, the Developer
shall furnish to the City a certificate of insurance countersigned by an authorized agent of the
insurance carrier on the insurance carrier’s form setting forth the general provisions of the
insurance coverage. Unless such certificates are provided to the City at an earlier date, the required
certificate shall be provided to the City prior to commencement of any demolition or construction
work on the Property.
7.1.6 All such policies required by this Section shall be nonassessable and sha ll
contain language to the effect that (i) the policies cannot be canceled or materially changed except
after thirty (30) days’ written notice by the insurer to the City, and (ii) the City shall not be liable
for any premiums or assessments. All such insurance shall have deductibility limits that shall be
commercially reasonable.
7.2 Indemnity. Except for the gross negligence or willful misconduct of the City, the
Developer shall indemnify, defend, protect, and hold harmless the Released Parties, from and
against all losses, liabilities, claims, damages (including foreseeable or unforeseeable
consequential damages), penalties, fines, forfeitures, costs and expenses (including all reasonable
out -of-pocket litigation costs and reasonable attorney’s fees) and demands of any nature
whatsoever, related directly or indirectly to, or arising out of or in connection with:
7.2.1 the work performed by Developer or its employees, contractors,
subcontractors, or independent contractors in development of the Impr ovements on the Property
and the use, ownership, management, occupancy, and possession of the Property,
7.2.2 any breach or Default by the Developer under this Agreement, or
7.2.3 any of the Developer’s activities on the Property (or the activities of the
Developer’s agents, employees, lessees, representatives, licensees, guests, invitees, contractors,
subcontractors, or independent contractors on the Property), regardless of whether such losses and
liabilities shall accrue or are discovered before or after termination or expiration of this Agreement,
7.2.4 The presence or clean-up of Hazardous Substances on, in or under the
Property which first existed during the period of the Developer’s ownership of the Property, and
7.2.5 Any other fact, circumstance or event related to the Developer’s
performance hereunder, or which may arise from the Developer’s ownership, use, possession,
operation or disposition of the Property, and the construction and sale of the Improvements,
regardless of whether such damages, losses or liabilities shall accrue or be discovered before or
after termination or expiration of this Agreement, or before or after the conveyance of the Property.
The Developer shall defend, at its expense, including attorneys’ fees, the Released Parties
in any legal action based upon such alleged acts or omissions. The City and the City may in their
discretion participate in the defense of any such legal action.
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The Developer’s indemnity obligations contained in this Section 7.2 shall survive the
termination or expiration of this Agreement and shall not be deemed merged into the Grant Deed
on recordation.
ARTICLE 8.
GENERAL PROVISIONS
8.1 Notices. All notices and demands shall be given in writing by certified mail,
postage prepaid, and return receipt requested, or by personal delivery. Notices shall be considered
given upon the earlier of (a) one business day following deposit or delivery with a nationally
recognized overnight courier delivery charges prepaid, or (b) three (3) business days following
after deposit or delivery shown on the return receipt in the United States mail, postage prepaid,
certified or registered, return receipt requested. A copy of all notices delivered prior to the Close
of Escrow shall be sent to E scrow Holder. Notices shall be addressed as provided below for the
respective party; provided that if any party gives notice in writing of a change of name or address,
notices to such party shall thereafter be given as demanded in that notice:
The City: City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California 92260
Attn: Ryan Stendell, Director of Community
Development
Tel. No:
Email:
The Developer: The Coachella Valley Housing Coalition
45-701 Monroe Street, Suite G
Indio, CA 92201
Attn: Julie Bornstein
Tel. No.:
Email:
8.2 Developer’s Warranties. The Developer warrants and represents to the City and
the City as follows:
8.2.1 The Developer has full power and authority to execute and enter into this
Agreement and to consummate the transactions contemplated hereunder . This Agreement
constitutes the valid and binding agreement of the Developer, enforceable in accordance with its
terms subject to bankruptcy, insolvency of other creditors’ rights laws of general application.
Neither the execution nor delivery of this Agreement, nor the consummation of the transactions
covered hereby, nor compliance with the terms and provisions hereof, shall conflict with, or result
in a breach of, the terms, conditions or provisions of, or constitute a default under, any agreement
or instrument to which the Developer is a party.
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8.2.2 As of the Close of Escrow, the Developer will have inspected the Property
and will be familiar with all aspects of the Property and its condition and will accept such
condition.
8.2.3 The Developer has not paid or given, and will not pay or give, to any third
person, any money or other consideration for obtaining this Agreement, other than normal costs of
conducting business and costs of professional services such as architects, engineers and attorneys.
8.2.4 No commission or fee whatsoever is payable to any person, firm,
corporation, partnership or other entity in connection with the transactions contemplated by this
Agreement due to the acts of the Developer. The Developer has used no broker, agent, finder or
other person in connection with the transaction contemplated hereby to whom a brokerage or other
commission or fee may be payable.
8.3 Interpretation. In this Agreement the neuter gender includes the feminine and
masculine, and singular number includes the plural, and the words “person” and “party” include
corporation, partnership, firm, trust, or association wherever the context so requires.
8.4 Time of the Essence. Time is of the essence of this Agreement.
8.5 Attorneys’ Fees. If any party brings an action to enforce the terms hereof or declare
its rights hereunder, the prevailing party in any such action shall be entitled to its reasonable
attorneys’ fees to be paid by the losing party as fixed by the court. If the City, or t he Developer,
without fault, is made a party to any litigation instituted by or against the other party, such other
party shall defend it against and save it harmless from all costs and expenses including reasonable
attorney’s fees incurred in connection w ith such litigation.
8.6 Approvals by the City and the Developer. Unless otherwise specifically provided
herein, wherever this Agreement requires the City or the Developer to approve any contract,
document, plan, proposal, specification, drawing or other matter, such approval shall not
unreasonably be withheld, conditioned or delayed.
8.7 Entire Agreement, Waivers and Amendments. This Agreement, together with all
attachments and exhibits hereto, constitutes the entire understanding and agreement of the pa rties.
This Agreement integrates all of the terms and conditions mentioned herein or incidental hereto,
and supersedes all negotiations or previous agreements between the parties with respect to the
subject matter hereof. No subsequent agreement, representation or promise made by either party
hereto, or by or to any employee, officer, agent or representative of either party, shall be of any
effect unless it is in writing and executed by the party to be bound thereby. No person is authorized
to make, and by execution hereof the Developer and the City acknowledge that no person has
made, any representation, warranty, guaranty or promise except as set forth herein; and no
agreement, statement, representation or promise made by any such person which is not co ntained
herein shall be valid or binding on the Developer or the City.
8.8 Counterparts. This Agreement may be executed simultaneously in one or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.
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8.9 Severability. Each and every provision of this Agreement is, and shall be construed
to be, a separate and independent covenant and agreement. If any term or provision of this
Agreement or the application thereof shall to any extent be held to be invalid or unenforceable, the
remainder of this Agreement, or the application of such term or provision to circumstances other
than those to which it is invalid or unenforceable, shall not be affected hereby, and each term and
provisio n of this Agreement shall be valid and shall be enforced to the extent permitted by law.
8.10 Survival. The provisions hereof shall not terminate but rather shall survive any
conveyance hereunder and the delivery of all consideration.
8.11 No Third Party Beneficiaries other than the City. The City shall be a named third
party beneficiary of this Agreement. This Agreement is made and entered into for the sole
protection and benefit of, and shall be binding upon, the parties, the City and their respective
successors and assigns. No other person shall have any right of action based upon any provision
of this Agreement.
8.12 Governing Law; Jurisdiction; Service of Process. California law shall govern this
Agreement and the rights of the Parties. The Parties consent to the exclusive jurisdiction of the
California Superior Court for the County of Riverside. If any legal action is commenced by the
Developer against the City, or by City against the Developer, service of process on th e City shall
be made by personal service upon the executive director or secretary of the City or in such other
manner as may be provided by law. If any legal action is commenced by City against the
Developer, service of process on the Developer shall be made by personal service on the President
of the Developer, or in such other manner as may be provided by law. The Developer agrees, for
the benefit of the City, that it shall designate an agent for service of process in the State of
California in the manner prescribed by law, and if it fails to do so, the Secretary of State of the
State of California is designated as agent for the Developer, with full authority to receive such
service of process on its behalf, which designation and authorization shall surv ive the Close of
Escrow and be irrevocable.
IN WITNESS WHEREOF, the parties hereto have entered into this agreement as of the
day and year first above written.
“Developer” THE COACHELLA VALLEY HOUSING
COALITION,
a California non-profit public benefit corporation
By:
Julie Bornstein,
Executive Director
By:
Pedro S.G. Rodriguez,
Chief Financial Officer
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“City” CITY OF PALM DESERT,
a California municipal corporation
By:
Name:
Title:
ATTEST:
Rachelle Klassen, City Clerk
APPROVED AS TO FORM:
Richards, Watson & Gershon
By:
Jim G. Grayson, Esq.
Special Counsel to City
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LIST OF EXHIBITS
Exhibit A Legal Description of Property
Exhibit B Schedule of Performance
Exhibit C Form of Right of Entry Agreement
Exhibit D Scope of Development
Exhibit E Form of Grant Deed
Exhibit F Forms of CVHC Promissory Note, Deed of Trust and Affordable Housing
Restriction
Exhibit F-1 Forms of Purchaser’s Promissory Note, Deed of Trust and Restrictive Agreement
Exhibit G Form of Notice of Affordability Restrictions on Transfer of Property
Exhibit H Property Documents/Disclosures
Exhibit I Form of Certificate of Completion
EXHIBIT “A”
LEGAL DESCRIPTION
That certain real property situated in the City of Palm Desert, County of Riverside, State of
California, described as follows:
LOTS 95 THROUGH 108 OF TRACT 30795, AS PER MAP FILED IN BOOK 406, PAGES 73
THROUGH 80 OF PARCEL MAPS, ALL IN THE OFFICE OF THE COUNTY RECORDER
OF SAID COUNTY OF RIVERSIDE.
ASSESSOR PARCEL NUMBERS 624-440-032, 624-440-034, 624-440-035, 624-440-036, 624-
441-014, 624-441-015, 624-441-016, 624-441-017, 624-441-018, 624-441-019, 624-441-020,
624-441-021, 624-441-022
EXHIBIT “B”
SCHEDULE OF PERFORMANCE
1. Developer Due Diligence Begins on the Effective Date and
ends 90 days thereafter.
2. Opening of Escrow between the City and
Developer as set forth in Section 2.3.1 of the
Agreement.
Promptly after execution of the
Agreement.
3. Developer shall, at its own expense, perform or
cause to be performed any and all conditions for
which it is responsible as set forth in Section 2.4
of the Agreement.
Prior to Close of Escrow.
4. Developer’s approval or disapproval of Title
Report and Survey.
Within the Review Period described
in Section 2.5.2.
5. Developer’s approval or disapproval of the
physical condition of the Property.
Within the Due Diligence Period
described in Section 2.7.1.
6. Close of Escrow. , 2020.
7. Commencement of the Improvements. Within thirty (30) days after Close of
Escrow.
8. Completion of the Improvements (other than
Units).
Within nine (9) months after Close of
Escrow.
9. Issuance of Certificate of Completion Thirty (30) days from Developer’s
written request.
10. Transfer of title to all Lots to Qualified
Households.
Within three (3) months after
issuance of Certificate of
Completion.
11 Completion of Construction of the Units, and
issuance by City of a Certificate of Occupancy
with respect to a Unit.
Within fourteen (14) months after the
date of purchase of a lot by a
Qualifying Household.
NOTE: Schedule may be amended with written approval of the City Manager, which approval
may be given or withheld in the sole and absolute discretion of the City Manager.
EXHIBIT “C”
FORM OF RIGHT OF ENTRY AND ACCESS AGREEMENT
(Attached.)
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RIGHT OF ENTRY AND ACCESS AGREEMENT
THIS RIGHT OF ENTRY AND ACCESS AGREEMENT (herein called this “Access
Agreement”) is made and entered into as of , 2020 (the “Effective Date”), by the
CITY OF PALM DESERT, a California municipal corporation (herein called “Grantor”), and The
COACHELLA VALLEY HOUSING COALITION, a California non-profit public benefit
corporation (herein called “Grantee”).
W I T N E S S E T H:
WHEREAS, Grantor is the owner of the real property more particularly described on
Exhibit A, attached hereto and incorporated herein by reference (herein called the “Property”);
WHEREAS, Grantor and Grantee have entered into a Disposition and Development
Agreement related to the Property (the “DDA”);
WHEREAS, Grantee has requested the right of entry upon and access to the Property for
t he purpose of undertaking tests, inspections and other due diligence activities (herein called the
“Due Diligence Activities”) in connection with the proposed acquisition by Grantee of the Property
under the DDA;
WHEREAS, Grantor has agreed to grant to Grantee, and Grantee has agreed to accept from
Grantor, a non-exclusive, revocable license to enter upon the Property to perform the Due
Diligence Activities in accordance with the terms and provisions of this Agreement;
WHEREAS, Grantor and Grantee desire to execute and enter into this Agreement for the
purpose of setting forth their agreement with respect to the Due Diligence Activities and Grantee’s
entry upon the Property.
NOW, THEREFORE, for and in consideration of the foregoing premises, the mutual
covenants and agreements contained herein, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, Grantor and Grantee do hereby covenant and
agree as follows:
1. Access by Grantee.
(a) Subject to Grantee’s comp liance with the terms and provisions of this
Agreement, until the earlier to occur of (i) the expiration of the Due Diligence Period (as defined
in the DDA), or (ii) the earlier termination of this Agreement, Grantee and Grantee’s agents,
employees, contractors, representatives and other designees (herein collectively called “Grantee’s
Designees”) shall have the right to enter upon the Property for the purpose of conducting the Due
Diligence Activities.
(b) Grantee expressly agrees as follows: (i) any activities by or on behalf of
Grantee, including, without limitation, the entry by Grantee or Grantee’s Designees onto the
Property in connection with the Due Diligence Activities shall not damage the Property in any
manner whatsoever or disturb or interfer e with the rights or possession of any tenant or subtenant
on the Property, (ii) in the event the Property is altered or disturbed in any manner in connection
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with the Due Diligence Activities, Grantee shall immediately return the Property to the condition
existing prior to the Due Diligence Activities, and (iii) Grantee, to the maximum extent allowed
by law, shall indemnify, defend and hold Grantor harmless from and against any and all claims,
liabilities, damages, losses, costs and expenses of any kind or nature whatsoever (including,
without limitation, attorneys’ fees and expenses and court costs) suffered, incurred or sustained by
Grantor as a result of, by reason of, or in connection with the Due Diligence Activities or the entry
by Grantee or Grantee’s Designees onto the Property. Notwithstanding any provision of this
Agreement to the contrary, Grantee shall not have the right to undertake any invasive activities or
tests upon the Property, or any environmental testing on the Property beyond the scope of a
standard “Phase I” investigation, without the prior written consent of Grantor of a workplan for
such “Phase II” or invasive testing, which may be granted, denied or conditioned in Seller’s
reasonable discretion. If Grantor does not respond or reject any workplan within fifteen (15)
business days of Grantee’s delivery of the written workplan proposal to Grantor pursuant to the
notice provisions of this Agreement, then Grantor shall be deemed to have not approved the
submitted workplan and Grantee may not proceed with such testing.
2. Lien Waivers. Grantee will provide Grantor with lien waivers following
completion of the Due Diligence Activities from each and every contractor, materialman, engineer,
architect and surveyor who might have lien rights, in form and substance reasonably satisfactory
to Grantor and its counsel. To the extent permitted by applicable law, Grantee hereby indemnifies
Grantor from and against any claims or demands for payment, or any liens or lien claims made
against Grantor or the Property as a result of the Due Diligence Activities.
3. Insurance. Prior to entry onto the Property, Grantee shall, and shall cause all of
Grantee’s Designees performing the Due Diligence Activities to, procure or maintain a policy of
commercial general liability insurance issued by an insurer reasonably satisfactory to Grantor
covering each of the Due Diligence Activities with a single limit of liability of not less than
$1,000,000.00 and $2,000,000.00 aggregate, and to deliver to Grantor a certif icate of insurance
and copy of additional insured endorsement naming Grantor as named additional insured,
evidencing that such insurance is in force and effect, and evidencing that Grantor has been named
as an additional insured thereunder with respect to the Due Diligence Activities. Such insurance
shall be maintained in force throughout the term of this Agreement.
4. Successors. To the extent any rights or obligations under this Agreement remain
in effect, this Agreement shall be binding upon and enforceable against, and shall inure to the
benefit of, the parties hereto and their respective heirs, legal representatives, successors and
permitted assigns.
5. Limitations. Grantor does not hereby convey to Grantee any right, title or interest
in or to the Property, but merely grants the specific rights and privileges hereinabove set forth.
6. Notices. Whenever any notice, demand, or request is required or permitted under
this Agreement, such notice, demand, or request shall be in writing and shall be deliver ed by hand,
be sent by registered or certified mail, postage prepaid, return receipt requested, or shall be sent
by nationally recognized commercial courier for next business day delivery, to the addresses set
forth below the respective executions of the parties hereof, or to such other addresses as are
specified by written notice given in accordance herewith, or shall be transmitted by facsimile to
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the number for each party set forth below their respective executions hereof, or to such other
numbers as are specified by written notice given in accordance herewith. All notices, demands, or
requests delivered by hand shall be deemed given upon the date so delivered; those given by
mailing as hereinabove provided shall be deemed given on the date of deposit in the United States
Mail; those given by commercial courier as hereinabove provided shall be deemed given on the
date of deposit with the commercial courier; and those given by facsimile shall be deemed given
on the date of facsimile transmittal. Nonetheless, the time period, if any, in which a response to
any notice, demand, or request must be given shall commence to run from the date of receipt of
the notice, demand, or request by the addressee thereof. Any notice, demand, or request not
received because of changed address or facsimile number of which no notice was given as
hereinabove provided or because of refusal to accept delivery shall be deemed received by the
party to whom addressed on the date of hand delivery, on the date of facsimile transmittal, on the
first calendar day after deposit with commercial courier, or on the third calendar day following
deposit in the United States Mail, as the case may be.
7. Assignment . This Agreement may not be assigned by Grantee.
8. Governing Law. This Agreement shall be construed, enforced and interpreted in
accordance with the laws of the State of California.
9. Termination. This Agreement can be terminated by Grantor at any time and for
any reason, or no reason, upon written notice from Grantor to Grantee.
10. Counterparts. This Agreement may be executed in several counterparts, each of
which shall be deemed an original, and all of such counterparts together shall constitute one and
the same instrument.
11. No Recording of Agreement or Memorandum of Agreeme nt . In no event shall this
Agreement or any memorandum hereof be recorded in the Official Records of Riverside County,
California, and any such recordation or attempted recordation shall constitute a breach of this
Agreement by the party responsible for such recordation or attempted recordation.
Address for notices:
To the City: City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California 92260
Attn: Ryan Stendell, Director of Community
Development
Tel. No.:
Email:
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To Grantee: The Coachella Valley Housing Coalition
45-701 Monroe Street, Suite G
Indio, CA 92201
Attn: Julie Bornstein, Executive Director
Tel. No.:
Email:
IN WITNESS WHEREOF, Grantor and Grantee have caused this Agreement to be
executed and sealed, on the day and year fir st written above.
GRANTOR: CITY OF PALM DESERT,
a California municipal corporation
By:
Name:
Title:
ATTEST:
, City Clerk
GRANTEE: THE COACHELLA VALLEY HOUSING
COALITION,
a California non-profit public benefit corporation
By:
Julie Bornstein,
Executive Director
By:
Pedro S.G. Rodriguez,
Chief Financial Officer
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EXHIBIT A
LEGAL DESCRIPTION OF THE PROPERTY
That certain real property situated in the City of Palm Desert, County of Riverside, State of
California, described as follows:
LOTS 95 THROUGH 108 OF TRACT 30795, AS PER MAP FILED IN BOOK 406, PAGES 73
THROUGH 80 OF PARCEL MAPS, ALL IN THE OFFICE OF THE COUNTY RECORDER
OF SAID COUNTY OF RIVERSIDE.
ASSESSOR PARCEL NUMBERS 624-440-032, 624-440-034, 624-440-035, 624-440-036, 624-
441-014, 624-441-015, 624-441-016, 624-441-017, 624-441-018, 624-441-019, 624-441-020,
624-441-021, 624-441-022
EXHIBIT “D”
SCOPE OF DEVELOPMENT
The development proposed by Developer in its response to the City’s Request for Proposals dated
October 11, 2018 (“RFP”), subject to compliance with Planning Commission Resolution No. 2314
and Tract Map No. 30795 (attached to the RFP). The development must also include the following:
The Project will consist of 14 self-help single-family detached three (3) and four (4) bedroom
homes of approximately 1,200 and 1,400 square feet, respectively, which will ultimately be
available to first -time homebuyers of very low and low income (as described herein) and a
household member of which shall be employed within the City’s jurisdictional boundar ies
(“Units”).
The 14 self-help homes shall follow the City of Palm Desert development standards and any other
condition of approval set forth in the Zoning Ordinance, and as more particularly identified in the
City’s Community Development Department’s Development and Permit Review Procedures for
residential projects in the Architectural Review Application. The proposed Project should be
consistent with the City’s other affordable for-sale developments that have been constructed which
include a high qualit y of construction, energy efficiencies to the extent possible, solar photovoltaic
option if feasible or coordination with a grant funded program for installation of solar photovoltaic
if possible, design aesthetic and stick-built. The Project should have a unifying theme and
identifiable character and be consistent with the neighboring affordable for -sale developments.
With proper City approval, the Developer shall:
Perform all necessary due diligence required for the Project’s approval process. This may
include, but is not limited to a precise plan, and or an Architectural Review Application.
Creation and submission of any documents necessary to obtain approvals and permits from
the current state of the Property, through the entitlement phase and through the issuance of
a Certificate of Completion for the Project.
Submit a complete Architectural Review Application, along with any requirements noted
therein and attend any required hearings in order to obtain approval.
Prepare the design for Lot infrastructure, including streets, curbs, water, sanitary sewer,
storm sewer, sidewalks, and dry utilitie s.
Verify and finalize the complete installation of both wet and dry utilities to each of the 14
Lots.
Prepare all necessary reports including but not limited to a water management plan,
environmental, etc.
Prepare the design and specifications for grading, engineering, and landscape including all
required approvals.
Prepare and determine the engineer’s estimate based on the proposed project contemplated
for submitt al.
Submit a wall permit for a property line block wall between each Lot consistent with the
City’s Zoning Ordinance and the neighboring affordable for -sale developments.
Prepare the design and specifications for 14 single-family homes that shall integrate as
many as possible building materials and methods that promote environmental quality and
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energy efficiency with special consideration to renewable energy sources, meeting at a
minimum, the current California Code of Regulations Title 24 standards.
Prepare a graphic representation of the design in scaled plans that are refined to a
conceptual, schematic level, indicating parcel layouts, building footprints, placement,
streets, pedestrian circulation, open space, and any other relevant features for approval by
the City as applicable.
Present the Project to all necessary City Departments, City Committees, Commissions,
Councils and Boards in order to obtain all necessary approvals.
Prepare construction documents for the Units.
Submit a complete Application For Residential Building Permit, along with any
requirements noted therein.
Include and pay all the costs associated with any permits or approvals for the Project.
Complete any geotechnical, soils and materials testing, compaction, grading, and pad
certificat ions necessary for the Project.
Perform community outreach and informational sessions about the Project for residents
living in surrounding neighborhoods, if necessary.
Coordinate with the Buyers regarding their respective ‘sweat equity’ and at least 500 hours
of construction work obligations.
Prescreen and prequalify potential first -time homebuyers and provide training and
counseling to qualified homebuyers. Explain the affordable restrictions, covenant
requirements, and all other affordable guidelines to Buyers.
Create a sales program for the marketing and sale of the Lots to qualified households at an
affordable housing cost (pursuant to California Code of Regulations, Title 25 and Health
and Safety Code), including but not limited to obtaining escrow, mortgage loans, insurance,
home inspections, and homebuyer counseling.
Provide guidance and technical assistance for the financing and management of the
construction loan.
Organize, supervise and train qualified households in the proper construction of the Units
through all Project phases.
Provide guidance and technical assistance for the construction management and any other
elements necessary to complete the Project.
Construct the approved Project and infrastructure (pursuant to California Code of
Regulations Title 24 standards).
Be the point of contact and follow up with Buyers including ownership questions,
affordability restrictions, maintenance and warranty complaints for a period of one (1) year
from when a Buyer receives a certificate of occupancy wit h respect to its Unit, or as is
otherwise statutorily required.
For purposes of clarification, the Developer is not obligated under the Agreement to
construct any infrastructure improvements pertaining to the Lots for development of
single-family homes except those which are specified in the Architectural Review
Application submitt ed to and approved by the City.
EXHIBIT “E”
FORM OF GRANT DEED
(Attached.)
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Recording Requested By, and
When Recorded return to and Mail To:
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California 92260
Attn: Housing Division
APNs: 624-440-032, 624-440-034, 624-440-035, 624-440-036, 624-441-014, 624-441-015, 624-
441-016, 624-441-017, 624-441-018, 624-441-019, 624-441-020, 624-441-021, 624-441-022
(Space above for Recorder’s use.)
(Exempt from Recording Fees Per Govt Code §6103.)
Exempt from documentary transfer tax as a conveyance for no consideration; property was
acquired with proceeds of tax exempt bonds that require property to be conveyed for no monetary
consideration.
GRANT DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the
CITY OF PALM DESERT (“Grantor”) hereby GRANTS, RELEASES AND REMISES to THE
COACHELLA VALLEY HOUSING COALITION, a California non-profit public benefit
corporation (“Grantee”) the real property described in Exhibit “A” attached hereto and
incorporated herein by this reference (the “Property”) located in the City of Palm Desert, County
of Riverside, State of California:
1. This Grant Deed of the Property is subject to the provisions of a Disposition and
Development Agreement (the “Agreement”) entered into by and between Grantor and Grantee
dated , 2020, the terms of which are incorporated herein by reference. A copy of
the Agreement is available for public inspection at the offices of the Grantor, 73-510 Fred Waring
Drive, Palm Desert, California 92260. The Property is conveyed further subject to all easements,
rights of way, covenants, conditions, restrictions, reservations and all other matters of record.
2. The Property is conveyed subject to the condition that the Grantee covenants by
and for itself, its successors and assigns and every successor in interest to the Property or any part
thereof, that the Grantee and such successors and assigns shall use the Property, and every par t
thereof, only for the purposes described in the Agreement. The Grantee further covenants and
agrees for itself, and its successors and its assigns, that the Property and the improvements located
thereon shall be conveyed only to “Qualified Households” as defined in that certain Affordable
Housing Restriction entered into by and between Grantor and Grantee dated , 2020,
the terms of which are incorporated herein by this reference.
3. By acceptance hereof, Grantee covenants, for himself or herself, his o r her
successors and assigns, and all persons claiming under or through them, that there shall be no
discrimination against or segregation of, any person or group of persons on account of any basis
listed in subdivision (a) or (d) of Section 12955 of the California Government Code, as those bases
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are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of subdivision (p) of
Section 12955, and Section 12955.2 of the California Government Code, in the sale, transfer, use,
occupancy, tenure or enjoyment of the premises herein conveyed, nor shall the Grantee himself or
herself, or any person claiming under or through him or her, establish or permit any practice or
practices of discrimination or segregation with reference to the use or occupancy of the premises
herein conveyed. The foregoing shall be a covenant running with the land for the benefit of, and
as a burden upon the property described herein.
Notwithstanding the immediately preceding paragraph, with respect to familial status, said
paragraph shall not be construed to apply to housing for older persons, as defined in Section
12955.9 of the California Government Code. With respect to familial status, nothing in said
paragraph shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of the
California Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51 and
Section 1360 of the California Civil Code and subdivisions (n), (o) and (p) of Section 12955 of the
California Government Code shall apply to said paragraph.
4. As provided in Section 6.2.3 of the Agreement, in the event of a failure to complete
a home by the deadline in the Agreement, the Grantor shall have the right at its option to re -enter
and take possession of applicable parcel hereby conveyed, with all improvements thereon, and to
revest in Grantor the Property hereby conveyed to Grantee (or its successors in interest), and in
such event title to the Property shall revert to Grantor. The foregoing right of reverter shall
automat ically terminate as to any Lot within the Property upon transfer of such Lot to a Qualified
Household.
5. All covenants contained in this Grant Deed, or incorporated herein by reference,
shall run with the land and shall be binding for the benefit of, and shall be enforceable by, Grantor,
or the City of Palm Desert (as a third party beneficiary) and their respective successors and assigns,
without regard to whether the Grantor is or remains an owner of any land or interest therein to
which such covenants relate. In the event of a breach of any covenant contained in this Grant
Deed, Grantor shall have the right to exercise any right or remedy available at law or in equity.
IN WITNESS WHEREOF, the undersigned has executed this Grant Deed as of the date set
fo rth below.
GRANTOR:
Dated: , 2020
CITY OF PALM DESERT,
a California municipal corporation
By:
Name:
Title:
ATTEST:
Rachelle Klassen, City Clerk
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GRANTEE: THE COACHELLA VALLEY HOUSING
COALITION,
a California non-profit public benefit corporation
By:
Julie Bornstein,
Executive Director
By:
Pedro S.G. Rodriguez,
Chief Financial Officer
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrume nt.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrume nt.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
EXHIBIT “A” TO GRANT DEED
LEGAL DESCRIPTION OF THE PROPERTY
That certain real property situated in the City of Palm Desert, County of Riverside, State of
California, described as follows:
LOTS 95 THROUGH 108 OF TRACT 30795, AS PER MAP FILED IN BOOK 406, PAGES 73
THROUGH 80 OF PARCEL MAPS, ALL IN THE OFFICE OF THE COUNTY RECORDER
OF SAID COUNTY OF RIVERSIDE.
ASSESSOR PARCEL NUMBERS 624-440-032, 624-440-034, 624-440-035, 624-440-036, 624-
441-014, 624-441-015, 624-441-016, 624-441-017, 624-441-018, 624-441-019, 624-441-020,
624-441-021, 624-441-022
EXHIBIT “F”
FORMS OF CVHC PROMISSORY NOTE, DEED OF TRUST AND AFFORDABLE
HOUSING RESTRICTION
(Attached.)
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CVHC PROMISSORY NOTE
$560,000.00 , 2020
FOR VALUE RECEIVED, the undersigned THE COACHELLA VALLEY HOUSING
COALITION, a California non-profit benefit corporation (the “Borrower”) hereby promises to pay
to t he order of the City of Palm Desert, a California municipal corporation (“Lender”) at the
following address 73-510 Fred Waring Drive, Palm Desert, California 92260 or at such other place
as the holder may from time to time designate by written notice to Bo rrower, in lawful money of
the United States, the sum of Five Hundred Sixty Thousand Dollars ($560,000.00) with simple
interest at the rate of three percent (3%) per annum on the stated principal balance from the date
hereof, until paid. The obligation of the Borrower with respect to this Promissory Note (“Note”)
is secured by a deed of trust (the “Deed of Trust”), executed by the Borrower and dated
substantially concurrently herewith.
1. Purchase Price Obligation. This Note evidences the obligation of the Borrower to the
Lender for the purchase price for land sold by Lender to Borrower (the “Land”) as provided
in that certain Disposition and Development Agreement by and between Borrower and
Lender and dated as of ________________, 2020 (the “DDA”).
2. Repayment of Loan Principal and Interest. No periodic payments are required
hereunder. Borrower agrees to pay the unpaid principal balance, unpaid accrued interest,
and any other amounts due under this Note upon the earliest of:
(a) Upon sale, transfer, lease, or encumbrance of all or any interest in the Land in
violation of that certain Affordable Housing Restrictive Agreement executed by
Borrower and recorded against the Land (the “Restrictive Agreement”); or
(b) Upon any other default by Borrower under the Restrictive Agreement or DDA that
is not cured within the express cure period for such default granted therein, if any;
or
(c) Upon a default under any obligation debt that is secured by a deed of trust or other
lien on the Land that is senior or junior to the Deed of Trust and is not cured within
the time period for cure, if any, expressly provided in the documents creating or
securing the obligation.
3. Partial Reconveyances; Reductions in Principal Amount and Accrued Interest;
Forgiveness. The DDA between Lender, as seller, and Borrower, as buyer, for the Land
that is encumbered by the Deed of Trust securing this Note requires Lende r to reconvey
the Deed of Trust with respect to any subdivided portion of the Land that is sold by
Borrower to a Qualified Household in accordance with the Affordable Housing Restriction
executed by Borrower (in order to permit such portion of the Land to be sold) through the
escrow for the sale to the Qualified Household. Upon each such sale and partial
reconveyance, the initial stated principal amount of this Note (and any accrued interest)
shall be reduced by one fourteenth (1/14th), as there should be fourteen such sales. Upon
completion of all sales in accordance with the Restrictive Agreement, this Note shall have
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a zero balance and the entire purchase money loan evidenced by this Note and accrued
interest will have been “forgiven”.
4. Application of Payments. All payments received on account of this Note shall be first
applied to accrued interest, if any, and the remainder shall be applied to the reduction of
principal.
5. Attorneys’ Fees. The Borrower hereby agrees to pay all costs and expenses, including
reasonable attorneys’ fees, which may be incurred by the Lender in the enforcement of this
Note.
6. Notices. Except as may be otherwise specified herein, any approval, notice, direction,
consent, request or other action by the Lender shall be in writing and must be
communicated to the Borrower at the address of the Property, or at such other place or
places as the Borrower shall designate to the Lender in writing by certified mail, from time
to time, for the receipt of communications from the Lender.
7. Prepayment Policy: Borrower may not prepay this Note without the prior written consent
of the Lender.
8. Governing Law. This Note shall be construed in acco rdance with and be governed by
the, laws of the State of California.
9. Severability. If any provision of this Note shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions hereof shall not in any way
be affected or impaired thereby.
10. No Waiver by the Lender. No waiver of any breach, default or failure of condition under
the terms of the Note or Deed of Trust shall thereby be implied from any failure of the
Lender to take, or any delay by the Lender in taking action with respect to such breach,
default or failure or from any previous waiver of any similar or unrelated breach, default
or failure; and a waiver of any term of the Note, Deed of Trust, or any of the obligations
secured thereby must be made in writing and shall be limited to the express written terms
of such waiver.
MAILING ADDRESS OF BORROWER (ADDRESS FOR NOTICES):
45-701 Monroe Street, Suite G, Indio, California 92201, Attn: Emilia Mojica, Single Family
Director
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SIGNATURE OF BORROWER:
THE COACHELLA VALLEY HOUSING COALITION,
a California non-profit public benefit corporation
By:
Julie Bornstein,
Executive Director
By:
Pedro S.G. Rodriguez,
Chief Financial Officer
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RECORDING REQUESTED BY, AND
WHEN RECORDED, MAIL TO:
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, CA 92260
Attn:
With a copy to:
The Coachella Valley Housing Coalition
45-701 Monroe Street, Suite G
Indio, CA 92201
APN(s): 624-440-032, 624-440-034, 624-440-
035, 624-440-036, 624-441-014, 624-441-015,
624-441-016, 624-441-017, 624-441-018, 624-
441-019, 624-441-020, 624-441-021, 624-441-
022
(Space Above This Line For Recorder’s Use)
Free Recording Requested Pursuant To Government Code Section 27383
DEED OF TRUST, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT
This Deed of Trust, Assignment of Rents and Security Agreement is dated
, 2020, and is executed by THE COACHELLA VALLEY HOUSING COALITION, a
California non-profit benefit corporation herein called Trustor, whose address is 45 -701 Monroe
Street, Suite G, Indio, CA 92201, in favor of First American Title Insurance Company, as Trustee,
for the benefit of the CITY OF PALM DESERT, a California municipal corporation herein called
Beneficiary.
Witnesseth: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS TO
TRUSTEE IN TRUST, WITH POWER OF SALE, that property in Riverside County, California,
described in Exhibit A attached hereto and incorporated herein by this reference, together with all
improvements and fixtures thereon and all goods and other personal property owned by Trustor
and located thereon (collectively, the “Property”).
TOGETHER WITH the rents, issues and profits thereof, SUBJECT, HOWEVER, to the
right, power and authority hereinafter given to and conferred upon Beneficiary to collect and
supply such rents, issues and profits.
For the Purpose of Securing:
1. Performance of each agreement of Trustor herein contained.
2. Payment of the principal amount of that certain Promissory Note dated
, 2020 (the “Note”) executed by Trustor in favor of Beneficiary.
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To Protect the Security of This Deed of Trust, Trustor Agrees:
(1) To keep said Property in good condition and repair; not to remove or demolish any
building thereon; to complete or restore promptly and in good workmanlike manner any building
which may be constructed, damaged or destroyed thereon and to pay when due all claims fo r labor
performed and materials furnished thereof; to comply with all laws affecting said Property, or
requiring any alterations or improvements to be made thereon; not to commit or permit waste
thereof; not to commit, suffer or permit any act upon said Pr operty in violation of law; and to do
all other acts which from the character or use of said Property may be reasonably necessary, the
specific enumerations herein not excluding the general.
(2) To provide or cause to provide, maintain and deliver to Benef iciary fire insurance
satisfactory to and with loss payable to Beneficiary and any superior trust deed holder, as their
interests may appear. The amount collected under any fire or other insurance policy may be
applied by Beneficiary upon any indebtedness secured hereby and in such order as Beneficiary
may determine, or at option of Beneficiary the entire amount so collected or any part thereof may
be released to Trustor. Such application or release shall not cure or waive any default or notice of
default hereunder or invalidate any act done pursuant to such notice.
(3) To appear in and defend any action or proceeding purporting to affect the security
hereof or the rights or powers of Beneficiary or Trustee; and to pay all costs and expenses,
including cost of evidence of title and attorney’s fees in a reasonable sum, in any such action or
proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to
foreclose this Deed of Trust.
(4) To pay: at least ten days before delinquency all taxes and assessments affecting
said Property, including assessments on appurtenant water stock; when due, all encumbrances,
charges and liens, with interest, on said Property or any part thereof, which appear to be prior or
superior hereto; all costs, fees and expenses of this Trust.
Should Trustor fail to make any payment or to do any act as herein provided, then
Beneficiary or Trustee, but without obligation so to do and without notice to or demand upon
Trustor and without releasing Trustor fro m any obligation hereof, may: (a) make or do the same
in such manner and to such extent as either may deem necessary to protect the security hereof,
Beneficiary or Trustee being authorized to enter upon said Property for such purposes; (b) appear
in and defend any action or proceeding purporting to affect the security hereof or the rights or
powers of Beneficiary or Trustee; (c) pay, purchase, contest or compromise any encumbrance,
charge or lien which in the judgment of either appears to be prior or super ior hereto; and (d) in
exercising any such powers, pay necessary expenses, employ counsel and pay his reasonable fees.
(5) To pay immediately and without demand all sums so expended by Beneficiary or
Trustee, with interest from date of expenditure at the a mount allowed by law in effect at the date
hereof, and to pay for any statement provided for by law in effect at the date hereof regarding the
obligation secured hereby any amount demanded by the Beneficiary not to exceed the maximum
allowed by law at the time when said statement is demanded.
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(6) That any award of damages in connection with any condemnation for public use of
or injury to said Property or any part thereof is hereby assigned and shall be paid to Beneficiary
(and to any superior trust deed holder, as their interests may appear) who may apply or release
such moneys received by him in the same manner and with the same effect as above provided for
disposition of proceeds of fire or other insurance.
(7) That by accepting payment of any sum secured hereby after its due date,
Beneficiary does not waive his right either to require prompt payment when due of all other sums
so secured or to declare default for failure so to pay.
(8) That at any time or from time to time, without liability therefore and w ithout notice,
upon written request of Beneficiary and presentation of this Deed of Trust and said note for
endorsement, and without affecting the personal liability of any person for payment of the
indebtedness secured hereby, Trustee may: (a) reconvey a ny part of said Property; (b) consent to
the making of any map or plat thereof; (c) join in granting any easement thereon; or (d) join in any
extension agreement or any agreement subordinating the lien or charge hereof.
(9) That upon written request of Beneficiary stating that all or a portion of the sums
secured hereby have been paid or deemed paid, and upon surrender of this Deed of Trust and the
Note (or submission of a modification or amendment thereto) to Trustee for cancellation and
retention and upon payment of its fees, Trustee shall reconvey, without warranty, the Property or
portion thereof then held hereunder and identified in such written notice from Beneficiary. The
recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness
thereof. The grantee in such reconveyance may be described as “the person or persons legally
entitled thereto.” Five years after issuance of such full reconveyance, Trustee may destroy said
note and this Deed of Trust (unless directed in such request to retain them).
(10) That as additional security, subject to the rights of superior trust deed holders, as
their interests may appear, Trustor hereby gives to and confers upon Beneficiary the right, power
and authority, during the continuance of these trusts, to collect the rents, issues and profits of said
Property, reserving unto Trustor the right, prior to any default by Trustor in payment of any
indebtedness secured hereby or in performance of any agreement hereunder, to collect and r etain
such rents, issues and profits as they become due and payable. Upon any such default, Beneficiary
may at any time without notice, either in person, by agent, or by a receiver to be appointed by a
court, and without regard to the adequacy of any security for the indebtedness hereby secured,
enter upon and take possession of said Property or any part thereof, in his own name sue for or
otherwise collect such rents, issues and profits, including those past due and unpaid, and apply the
same, less costs and expenses of operation and collection, including reasonable attorney’s fees,
upon any indebtedness secured hereby, and in such order as Beneficiary may determine. The
entering upon and taking possession of said Property, the collection of such rents, issues and profits
and the application thereof as aforesaid, shall not cure or waive any default or notice of default
hereunder or invalidate any act done pursuant to such notice.
(11) That upon default by Trustor in payment of any indebtedness secured here by, or in
performance of any agreement hereunder, or default by Trustor under the DDA or Restrictive
Agreement (each as defined in the Note), Beneficiary may declare all sums secured hereby
immediately due and payable by delivery to Trustee of written declaration of default and demand
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for sale and of written notice of default and election to cause to be sold said Property, which notice
Trustee shall cause to be filed for record.
After the lapse of such time as may then be required by law following the reco rdation of
said notice of default, and notice of sale having been given as then required by law, Trustee,
without demand on Trustor, shall sell said Property at the time and place fixed by it in said notice
of sale, either as a whole or in separate parcels, and in such order as it may determine, at public
auction to the highest bidder for cash in lawful money of the United States, payable at time of sale.
Trustee may postpone sale of all or any portion of said Property by public announcement at such
time and place of sale, and from time to time thereafter may postpone such sale by public
announcement at the time fixed by the preceding postponement. Trustee shall deliver to such
highest bidder its deed conveying the Property so sold, but without any covenant or warranty,
express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of
the truthfulness thereof. Any person, including Trustor, Trustee, or Beneficiary may purchase the
Property at such sale.
After deducting all costs, fees and expenses of Trustee and of this Trust, including cost of
evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of:
all sums expended under the terms hereof, not then repaid, with accrued interest at t he amount
allowed by law in effect at the date hereof; all other sums then secured hereby; and the remainder,
if any, to the person or persons legally entitled thereto.
(12) Beneficiary, or any successor in ownership of any indebtedness secured hereby,
may from time to time, by instrument in writing, substitute a successor or successors to any Trustee
named herein or acting hereunder, which instrument, executed by the Beneficiary and duly
acknowledged and recorded in the office of the recorder of the county or counties where said
Property is situated, shall be conclusive proof of proper substitution of such successor Trustee or
Trustees, who shall, without conveyance from the Trustee predecessor, succeed to all its title
estate, rights, powers and duties. S aid instrument must contain the name of the original Trustor,
Trustee and Beneficiary hereunder, the book and page where this Deed of Trust is recorded and
the name and address of the new Trustee.
(13) That this Deed of Trust applies to, inures to the bene fit of, and binds all parties
hereto, their heirs, legatees, devisees, administrators, executors, successors and assigns. The term
Beneficiary shall include the owner and holder, including pledges, of the note secured hereby,
whether or not named as Beneficiary herein. In this Deed of Trust, whenever the context so
requires, the masculine gender includes the feminine and/or neuter, and the singular number
includes the plural.
(14) That Trustee accepts this Trust when this Deed of Trust, duly executed and
acknowledged, is made a public record as provided by law. Trustee is not obligated to notify any
party hereto of pending sale under any Deed of Trust or of any action or proceeding in which
Trustor, Beneficiary or Trustee shall be a party unless brought b y Trustee.
(15) If the Trustor shall sell, lease, transfer, assign, convey, encumber, mortgage,
hypothecate or alienate the real Property described herein, or any part thereof, or any interest
therein, or shall be divested of title or any interest therein in any manner or way, whether
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voluntarily or involuntarily (except as permitted by Beneficiary pursuant to the terms and
conditions set forth in the DDA and Restrictive Agreement), or if Trustor shall fail to make any
payments due under the note secured by this Deed of Trust, or fail to perform any other obligation
under said DDA and Restrictive Agreement, this Deed of Trust or the note secured hereby, or any
other deed of trust encumbering the subject Property, then Beneficiary shall have the right, at its
option, to declare any indebtedness or obligations secured hereby, irrespective of the maturity date
specified in any note evidencing the same, immediately due and payable.
(16) Notwithstanding anything provided herein to the contrary, the Beneficiary agrees
to look solely to the Trustor’s interest in the Property encumbered hereby and improvements
thereon (or the proceeds thereof) for the satisfaction of any remedy of the Beneficiary, and for the
collection of a judgment (or other judicial process) requiring the payment of money by the Trustor,
except where such judgment results from a claim of fraud; intentional misrepresentation;
misapplication; misappropriation; or wrongful retention of rental income; casualty insurance;
condemnation proceeds; or other funds attributable to the Property; the commission of any act of
deliberate waste with respect to the Property encumbered hereby; or the deposit of any hazardous
or toxic materials on the Property encumbered hereby; in which events there shall be no such
limitation on the Beneficiary’s recourse against the Trustor.
(17) Any breach or default under the Restrictive Agreement or the DDA shall be deemed
a breach of this Deed of Trust.
(18) This Deed of Trust is also intended to be and shall constitute both a Security
Agreement and a “fixture filing” as defined in the California Commercial Code, the Trustor being
the Debtor and the Beneficiary being the Secured Party. Trustor hereby grants Beneficiary a
security interest in all fixtures, and in all goods which are or are to bec ome fixtures on the Land,
for the purpose of securing all indebtedness and other obligations of Trustor now or hereafter
secured by this Deed of Trust. The products of such collateral are also covered hereby. This Deed
of Trust, as a fixture filing, is t o be recorded in the real estate records covering the real property
covered hereby. Trustor authorizes Beneficiary to execute, deliver, file and record (as necessary)
financing and continuation statements covering such property from time to time in such form as
Beneficiary may require to perfect and continue the perfection of Beneficiary’s security interest
with respect to such property, and to reimburse Beneficiary for any costs incurred in filing such
financing statements and any continuation statements. Trustor shall not create or allow the creation
of any other security interest in such property. Upon the occurrence of any default by Trustor
hereunder, Beneficiary shall have the rights and remedies of a secured party under the California
Commercial Co de, as well as all other rights and remedies available at law or in equity or as
provided herein, all at Beneficiary’s option. Trustor and Beneficiary agree that the filing of a
financing statement in the records normally having to do with personal property shall never be
construed as in any way derogating from or impairing this declaration and the hereby stated
intention of the parties hereto that everything used in connection with the operation or occupancy
of such property or the production of income therefrom is and, at all times and for all purposes and
in all proceedings, both legal and equitable, shall be regarded as real property encumbered by this
Deed of Trust and fixture filing, irrespective of whether (a) any such item is physically attached to
the buildings and improvements, (b) serial numbers are used for the better identification of certain
equipment, or (c) any such item is referred to or reflected in any such financing statement so filed
at any time. Such mention in the financing statement is declared to be for the protection of the
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Beneficiary in the event any court or judge shall at any time hold that notice of Beneficiary’s
priority of interest must be filed in the Uniform Commercial Code records to be effective against
a particular class of persons, including, but not limited to, the federal government and any
subdivisions or entities of the federal government.
The undersigned Trustor requests that a copy of any Notice of Default and of any Notice
of Sale hereunder be mailed to him at his address hereinbefore set forth.
THE COACHELLA VALLEY HOUSING
COALITION,
a California non-profit public benefit corporation
By:
Julie Bornstein,
Executive Director
By:
Pedro S.G. Rodriguez,
Chief Financial Officer
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrume nt.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrume nt.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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EXHIBIT “A”
LEGAL DESCRIPTION
That certain real property situated in the City of Palm Desert, County of Riverside, State of
California, described as follows:
LOTS 95 THROUGH 108 OF TRACT 30795, AS PER MAP FILED IN BOOK 406, PAGES 73
THROUGH 80 OF PARCEL MAPS, ALL IN THE OFFICE OF THE COUNTY RECORDER
OF SAID COUNTY OF RIVERSIDE.
ASSESSOR PARCEL NUMBERS 624-440-032, 624-440-034, 624-440-035, 624-440-036, 624-
441-014, 624-441-015, 624-441-016, 624-441-017, 624-441-018, 624-441-019, 624-441-020,
624-441-021, 624-441-022
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RECORDING REQUESTED BY
AND WHEN RECORDED RETURN TO:
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California 92260
Attention: Housing Division
With a copy to:
The Coachella Valley Housing Coalition
45-701 Monroe Street, Suite G
Indio, CA 92201
Attn:
APNs: 624-441-014 to 022; 624-440-032 to 036
EXEMPT FROM RECORDING FEES PURSUANT TO G.C. 6103
AFFORDABLE HOUSING RESTRICTION AGREEMENT
THIS AFFORDABLE HOUSING RESTRICTION AGREEMENT (the “AHRA”)
including CONDITIONS, COVENANTS AND RESTRICTIONS dated as of
, 2020 (the “Effective Date”), is by and between the CITY OF PALM DESERT (the
“City”), and THE COACHELLA VALLEY HOUSING COALITION, a California nonprofit
public benefit corporation (the “Owner”).
RECITALS
A. The Owner is concurrently herewith acquiring that certain real property located in
the City of Palm Desert, County of Riverside, State of California, legally described on Exhibit “A”
attached hereto and incorporated herein by reference (the “Property”), and which the owner intends
to sell fully entitled and permitted lots thereof (the “Lots”) to Qualified Households (as hereinafter
defined), who shall cause to be constructed and occupy a single family home thereon as their
principal residence.
B. The purpose of this AHRA is to effectuate the disposition of the Property to Owner,
and for the development of the Property, and its sa le to and occupancy by Qualified Households
(as defined below).
C. The City and the Owner are parties to that certain Disposition and Development
Agreement dated , 2020 (the “DDA”). Pursuant to the DDA, the Owner has
agreed to develop a self-help project consisting of fourteen (14) single-family residential dwelling
units on the Lots (the “Units”), and the City has agreed to convey the Site to the Owner.
D. Pursuant to the DDA, the Owner is required to fully entitle the Property and each
Lot for construction of the individual Units by Qualified Households. The Owner is also required
to sell each such entitled Lot to a Qualified Household who shall assume all continuing obligations
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of the Owner pertaining to the construction of the Unit on the Lot and be subject to the terms and
provisions of a new restrictive housing agreement executed by it, as herein provided.
E. To further the interests of the City, and as required by the DDA, Owner has agreed
to enter into and record this Restrictive Agreement, the purpose of which is to regulate and provide
certain restrictions with regard to occupancy, resale, and ownership of the Property.
NOW, THEREFORE, the parties agree as follows:
AGREEMENT
1. Fundamental Provisions. The following shall serve as the basic ter ms of this
AHRA:
(a) The name of the Owner is The Coachella Valley Housing Coalition.
(b) The Property consists of vacant parcels in the City of Palm Desert,
California, also known as APNs 624-441-014 through 022 and 624-440-032 through 036, legally
described on Exhibit “A” attached hereto.
(c) References herein to statutes or regulations shall be to such statutes or
regulations as amended from time to time, and to any successor statutes and regulations.
2. Entitlement for Lots. The Owner shall obtain all entitlements with respect to the
Lots as are required by the City for the construction of the Units as more particularly described in
the DDA.
3. Term of AHRA. This AHRA shall commence upon the date of recordation hereof
in the official records of the County Recorder and shall continue until the date upon which all of
Property has been entitled and sold to Qualified Households for the construction of the Units (the
“Term”). Upon each sale of a Lot to a Qualified Household, City and the Qualified Household
shall execute and record a new restrictive housing agreement in the form of Exhibit F-1 to the
DDA and evidencing the termination of this AHRA as to the Unit, with a term of forty-five (45)
years from the date of the issuance by the City of a final certificate of occupancy with respect to
each such Unit.
4. Definitions. For purposes of this AHRA, the terms listed below shall have the
meanings thereinafter specified.
(a) AMI means the median family income of the Riverside-San Bernardino
Statistical Area (SMSA), as determined and published annually by the California Department of
Housing and Community Development (“HCD”), as described in California Health and Safety
Code Section 50093, and the regulations promulgated thereunder. The AMI shall be adjusted fo r
family size in accordance with state regulations adopted pursuant to California Health and Safety
Code Section 50052.5.
(b) Affordable Housing Cost means a housing cost which is calculated pursuant
to California Health and Safety Code Section 50052.5, as amended from time to time, and for the
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purposes hereof, the term “housing cost” shall have the meaning ascribed to such term in Title 25
of the California Code of Regulations Section 6920, as amended from time to time, and the term
“gross income” shall ha ve the meaning ascribed to such term in Title 25 of the California Code of
Regulations Section 6914.
(c) Person, Family, or Household of Low or Very Low Income means a person,
family or household of one or more persons occupying the same housing unit whose household
income does not exceed the low or very low income limits (as applicable) set forth in California
Health and Safety Code Sections 50093, 50105, and Title 25 of the California Code of Regulations
Section 6910, et seq., as the case or context may r equire, adjusted for family size.
(d) Qualified Household means a Person, Family, or Household of Low or Very
Low Income that is a First -Time Homebuyer and that would not cause the occupancy of the Unit
to exceed the maximum occupancy allowed by the Palm Desert Municipal Code, and wherein a
member of the Qualified Household is employed within the City’s jurisdictional boundaries.
(e) Escrow and Title Costs are to include only those fees charged by an escrow
agent & title insurance company solely for the closing costs of escrow. These are not to include
loan fees, refinancing fees, broker commissions, prepaid items, homeowner’s dues, or other fees
not directly related to the transfer of ownership.
(f) First-Time Homebuyer means an individual or individuals or an individual
and his or her spouse who have not owned a home during the three-year period before the purchase
of a home with subsidy assistance, except that the following individual or individuals may not be
excluded from consideration as a First -Time Homebuyer under this definition:
(i) a displaced homemaker who, while a homemaker, owned a home
with his or her spouse or resided in a home owned by the spouse. A displaced homemaker is an
adult who has not, within the preceding two (2) years, worked on a full-time basis as a member of
the labor force for a consecutive twelve-month period and who has been unemployed or
underemployed, experienced difficulty in obtaining or upgrading employment and worked
primarily without remuneration to care for his or her home and family;
(ii) a single parent who, while married, owned a home with his or her
spouse or resided in a home owned by the spouse. A single parent is an individual who is
unmarried or legally separated from a spouse and has one or more minor childre n for whom the
individual has custody or joint custody or is pregnant; and
(g) Purchaser’s Restrictive Covenant shall mean a recordable restrictive
covenant signed by each purchaser of any portion of the Property, in the form attached to the DDA
as Exhibit “F-1”, which shall be recorded prior to any deeds of trust or other liens (except for those
liens for property taxes and assessments not yet payable).
5. Restriction on Transfer.
(a) The Owner shall not voluntarily or involuntarily, in whole or in part, sell,
convey, transfer, lease, sublease, assign, encumber, mortgage, refinance, or hypothecate the
Property, or enter into agreements to sell, convey, transfer, lease, sublease, assign, encumber,
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mortgage, refinance, or hypothecate the Property, except in c ompliance with the terms of this
AHRA and the DDA, and with the prior written approval of the City Manager. Failure to obtain
the prior written approval of the City Manager will be deemed a breach of this AHRA.
(b) Any violation of the provisions hereof is prohibited and any sale or other
transfer of the Property prohibited in Section 5(a) above, in whole or in part, during the Term shall
be null, void and unenforceable and a breach of this AHRA.
6. Covenant to Maintain Affordability; Unit Breakdown.
(a) The Site is being conveyed to the Owner to increase and improve the
community’s supply of low and very low income housing available at an Affordable Housing Cost
in accordance with the affordable housing requirements of the Community Redevelopment Law
(California Health and Safety Code, Section 33000, et seq). The Owner shall sell, convey, assign,
or transfer ownership or occupancy of the housing units on the Property only to Qualified
Households who cannot obtain comparable housing at affordable costs on the open market as
provided in Health and Safety Code Section 33334.2(e)(8). To this end, the Owner agrees that the
Units shall be sold only at an Affordable Housing Cost and shall only be occupied by a Qualified
Household as its sole and primary residence.
(b) Eight of the housing units shall be sold at an Affordable Housing cost to
Qualified Households whose income does not exceed eighty percent (80%) of AMI; three (3) of
the housing units shall be sold at an Affordable Housing Cost to Qualified Households whose
income does not exceed sixty percent (60%) of AMI; and three (3) of the housing units shall be
sold at an Affordable Housing Cost to Qualified Households whose income does not exceed fifty
percent (50%) of AMI.
(c) The City Manager shall execute, or cause to be duly executed,
acknowledged, and delivered to the escrow (with appropriate escrow instructions) for any sale of
any Lot to a Qualified Household in accordance with this AHRA, a partial reconveyance for such
Lot of the deed of trust executed by Owner in favor of City.
(d) In exchange for the City’s partial reconveyance, and as a condition to selling
the Property, the Owner shall: (i) require that the buyer of a Lot enter into a binding assignment
and assumption agreement, acceptable to the City Manager in form and substance, and evidencing
the assignment by the Owner and the assumption by the buyer of all of the then continuing
obligations, covenants and agreements of the Owner contained in the DDA and related documents,
and pertaining to the construction of the applicable Unit; (ii) deliver to the City a fully-executed
copy of the Construction Administration Agreement (as defined in the DDA); and (iii) require the
buyer of the Property to execute, acknowledge and deliver to the City a Purchase r’s Promissory
Note and a deed of trust in favor of the City (securing such Promissory Note) and a Purchaser’s
Restrictive Agreement in form and substance acceptable to the City Manager and consistent with
the DDA. The Purchaser’s Restrictive Agreement and Deed of Trust shall be recorded as a
condition to any sale, and the Purchaser’s Restrictive Agreement may not be subordinate to any
deed of trust or other liens.
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7. Permitted Transfers and Mortgages.
(a) Conveyance of Property. Any permitted transferee shall acquire the
Property subject to the terms and conditions of the Purchaser’s Restrictive Agreement.
(b) First Trust Deed - Purchase. A Qualified Household may upon its purchase
of a Lot encumber it with a deed of trust securing a loan to finance the construction of the Unit,
and that is consistent with the requirements of the DDA and the Purchaser’s Restrictive
Agreement. No other encumbrance of the Property is permitted without the prior written consent
of the City Manager, which consent may be granted or withheld in the City Manager’s sole and
absolute discretion.
8. Controls and Procedures Regarding Sale of the Property.
(a) When the Owner elects to sell the Property, the Owner shall, prior to signing
a listing agreement or other authorization to sell with a real estate broker, first provide to the City
Manager a notice (the “Notice of Proposed Sale”) setting forth the Owner’s intention to sell the
Property, and certifying that the identified buyer is a Qualified Household.
(b) The escrow instructio ns pertaining to the sale shall provide for conditions
or contingencies of the type and nature customarily included in residential purchase escrows
(including but not limited to financing contingencies, inspection rights, and preliminary title report
approvals), provided that any such conditions or contingencies (other than the status of title to the
Property at the time of conveyance and other conditions which by their nature cannot be satisfied
prior to closing) must be satisfied or waived on or before the close of escrow. Escrow shall close
within a reasonable time after opening thereof, but not earlier than sixty (60) days following the
date upon which the notice of sale is received by the City Manager.
(c) The Owner shall notify any proposed purchaser in writing prior to such
person’s execution of escrow instructions, or purchase and sale agreement or similar agreement,
whichever is earliest, that the title to the Property will be restricted in the manner described in the
Purchaser’s Restrictive Agreeme nt (the forms of which shall be delivered by Owner to the
prospective purchaser at least thirty (30) days prior to the proposed date of sale of the Property).
In addition, the Owner shall cause the proposed purchaser to deliver to the City an executed cop y
of any construction loan agreement with its lender with respect to the construction of the Unit, and
in acceptable form and substance to the City Manager.
(d) The Owner may require a deposit to open escrow in an amount not to exceed
three percent (3%) of the purchase price. Title to the Property shall be delivered to the purchaser
at the close of escrow free and clear of monetary liens and encumbrances, except as provided for
in this AHRA. Closing costs shall be allocated between the buyer and seller ac cording to the
customary practices in Riverside County in effect at the time the escrow is opened.
(e) For the purpose of confirming with the City that a proposed purchaser is a
Qualified Household that will be paying a purchase price that is in compliance with the terms
hereof, the Owner (at least forty-five (45) days prior to the close of escrow for the Property) shall
notify the City Manager in writing of any offer from a prospective purchaser which the Owner
intends to accept, disclosing the identity of such prospective purchaser and providing the City with
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such financial, credit, and other information on such prospective purchaser as required by the City,
including the following:
(i) Name and address of the purchaser.
(ii) Number of persons comprising t he purchaser’s household and their
names and ages.
(iii) Proposed purchase price of the Property, and any other
consideration for the purchase of the Property.
(iv) Verification that the purchaser is a First Time Home Buyer.
(v) Amount of down payment.
(vi) Terms of any loan that will be used by the purchaser to finance the
purchase of the Unit, including, but not limited to, principal, interest rate, term, and loan fees.
(vii) Closing date.
(viii) Aggregate annual income of the purchaser’s household.
(ix) Most recent federal and state income tax returns of the purchaser
and all other members of the purchaser’s household for the preceding two (2) calendar years, and
verification of the proposed purchaser’s salary or wages from the purchaser’s employer or fro m
current pay stubs showing year to date as well as period payroll for the preceding two (2) calendar
years.
(x) Copy of any proposed purchase and sale agreement, escrow
instructions, loan application, or other agreements between the Owner and the purchase r of the
Property or relating to the sale of the Unit including closing documents or any other documentation
that the City deems appropriate.
(xi) A written statement signed by the proposed purchaser that upon
completion of construction, the Unit will be o ccupied by the purchaser of such Unit and used as
his or her primary residence.
In lieu of providing the foregoing information, these requirements shall be deemed to have
been satisfied by delivery to the City Manager of a written certification of the fore going
information from the purchaser’s lender who shall hold a first position trust deed encumbering the
Property, which certification shall be furnished to the City Manager at least forty-five (45) days
prior to the close of escrow for the Property.
The City Manager shall have thirty (30) days to review the information (unless the City
received the certification from prospective purchaser’s lender, in which case the City shall have
fifteen (15) days to review the information). If the City Manager fails to disapprove the purchaser
within such period of time, then the purchaser shall be deemed approved by the City. The City
Manager may require the purchaser to submit other written documentation reasonably requested
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by the City Manager to verify the informat ion set forth therein and to determine that the
requirements of the Restrictive Agreement are being satisfied. If the City Manager receives all
such prospective purchaser information requested by the City Manager, the City Manager shall
determine whether the prospective purchaser is a Qualified Household, and shall thereafter
immediately notify the Owner in writing that the prospective sale is authorized and approved, or
that the prospective purchaser does not qualify to purchase the Unit as a Qualified Ho usehold.
If the City Manager notifies the Owner that the sale is authorized and approved, the Owner
shall proceed to complete the sale of the Property as soon as practicable.
9. Nondiscrimination Covenants. By the Owner’s acceptance hereof, the Owner
agrees, for itself and its successors and assigns, to refrain from restricting the transfer of the Unit
on the basis of race, color, creed, religion, ancestry, sex, marital status, national origin or age of
any person. All such deeds and leases entered into with respect to the Property shall contain or be
subject to substantially the following nondiscrimination or nonsegregation clauses:
(a) In deeds: “The grantee herein covenants by and for himself or hersel f, his
or her heirs, executors, administrators and assigns, and all persons claiming under or through them,
that there shall be no discrimination against or segregation of, any person or group of persons on
account of any basis listed in subdivision (a) or (d) of Section 12955 of the California Government
Code, as those bases are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of
subdivision (p) of Section 12955, and Section 12955.2 of the California Government Code, in the
sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the premises herein
conveyed, nor shall the Grantee himself or herself, or any person claiming under or through him
or her, establish or permit any practice or practices of discrimination or segr egation with reference
to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or
vendees in the premises herein conveyed. The foregoing covenants shall run with the land.
Notwithstanding the immediately preceding paragraph, with respect to familial status, said
paragraph shall not be construed to apply to housing for older persons, as defined in Section
12955.9 of the California Government Code. With respect to familial status, nothing in said
paragraph shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of the
California Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51 and
Section 1360 of the California Civil Code and subdivisions (n), (o) and (p) of S ection 12955 of the
California Government Code shall apply to said paragraph.”
(b) In leases: “The lessee herein covenants by and for himself or herself, his or
her heirs, executors, administrators and assigns, and all persons claiming under or through hi m or
her, and this lease is made and accepted upon and subject to the following conditions: That there
shall be no discrimination against or segregation of any person or group of persons, on account of
any basis listed in subdivision (a) or (d) of Section 12955 of the California Government Code, as
those bases are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of
subdivision (p) of Section 12955, and Section 12955.2 of the California Government Code, in the
leasing, subleasing, transferring, use or occupancy, tenure or enjoyment of the premises herein
leased nor shall the lessee himself or herself, or any person claiming under or through him or her,
establish or permit any such practice or practices of discrimination or segregation with reference
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to the selection, location, number, use or occupancy of tenants, lessees, sublessees, subtenants or
vendees in the premises herein leased.
Notwithstanding the immediately preceding paragraph, with respect to familial status, said
paragraph shall not be construed to apply to housing for older persons, as defined in Section
12955.9 of the California Government Code. With respect to familial status, nothing in said
paragraph shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of the
California Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51 and
Section 1360 of the California Civil Code and subdivisions (n), (o) and (p) of Section 12955 of the
California Government Code shall apply to said paragraph.”
(c) In contracts: “The contracting party or parties hereby covenant by and for
himself or herself and their respective successors and assigns, that there shall be no discrimination
against or segregation of any person or group of persons, on account of any basis listed in
subdivision (a) or (d) of Section 12955 of the California Government Code, as those bases are
defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of subdivision (p) of
Section 12955, and Section 12955.2 of the California Government Code, in the sale, lease,
sublease, transfer, use, occupancy, tenure or enjoyment of the premises, nor shall the contracting
party or parties, any subcontracting party or parties, or their respective assigns or transferees,
est ablish or permit any such practice or practices of discrimination or segregation.
Notwithstanding the immediately preceding paragraph, with respect to familial status, said
paragraph shall not be construed to apply to housing for older persons, as defined in Section
12955.9 of the California Government Code. With respect to familial status, nothing in said
paragraph shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of the
California Civil Code, relating to housing for senior c itizens. Subdivision (d) of Section 51 and
Section 1360 of the California Civil Code and subdivisions (n), (o) and (p) of Section 12955 of the
California Government Code shall apply to said paragraph.”
The foregoing shall be a covenant running with the la nd for the benefit of, and as a burden
upon the Property, and shall remain in effect in perpetuity.
10. Maintenance of the Unit/Prohibition Against Waste. The Owner shall not commit
waste upon the Property. The Owner shall not remove or demolish the impr ovements on the
Property. The Owner shall, throughout the Term hereof, keep and maintain the Property and the
improvements thereon in good condition and repair. If the Owner at any time fails to so keep and
maintain the Property in good condition and rep air, after 30 days’ notice from the City Manager,
the City shall have a right to enter onto the Property and perform such deferred maintenance, and
the Owner shall promptly reimburse the City for all costs incurred by the City in performing such
maintenance.
11. Default. No default notice shall be required or cure period provided for a default
by Owner consisting of a conveyance of any portion of the Property in violation of this Agreement.
If either party defaults with regard to any of the other provisio ns of this AHRA, the nondefaulting
party may serve written notice of such default upon the defaulting party. If the default is not cured
by the defaulting party within thirty (30) days after service of the notice of default, or if the default
is not commenced to be cured within thirty (30) days after service of the notice of default and is
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not cured promptly within a reasonable period of time after commencement, the defaulting party
shall be subject to all rights and remedies of the other party for such de fault, including in the case
of uncured default by Owner, the foreclosure of the Owner’s interest in the Property under the
Deed of Trust as defined in the DDA.
Upon a default by Owner (not cured within the cure period, if applicable), City may
demand payment of the Promissory Note that is secured by the Property, and if not paid within ten
(10) days, commence foreclosure of the Deed of Trust securing said Promissory Note, in addition
to any other rights and remedies of City.
12. Notices. All notices to be delivered to the parties pursuant to the terms hereof shall
be in writing and shall be delivered in person or by U.S. Mail or other delivery service to the
addresses listed below.
Any of the following addresses may be changed by written notice. If notice is given it shall
be deemed effective upon 3 business days after deposit of same, postage prepaid, in the U.S. Mail,
or the date of actual receipt as evidenced by personal acknowledgment, return receipt or other
comparable means.
If to Owner The Coachella Valley Housing Coalition
45-701 Monroe Street, Suite G
Indio, California 92201
Attn: Julie Bornstein, Executive Director
Tel. No.:
Email:
If to the City: City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California 92260
Attn: Community Development Department
Tel. No.:
Email:
13. Covenants to Run With the Land. Subject to Section 7 hereof, the covenants
established in this AHRA shall be binding on the Owner and any successor in interest of the Owner,
and shall be for the benefit and in favor of the City, its successors and assigns. The City is deemed
the beneficiary of the terms and provisions of this AHRA and of the covenants running with the
land, for and in its own rights and for the purposes of prot ecting the interests of the community
and other parties, public or private, in whose favor and for whose benefit this AHRA and the
covenants running with the land have been provided. The covenants hereof shall be enforceable
by any of the persons or entit ies set forth in Health and Safety Code Section 33334.3(f). The
covenants established in this AHRA shall be incorporated by reference in all deeds conveying all
or any portion of the Property. The Owner (and each successor in interest, as the case may be )
shall furnish a copy of this instrument to any successors in interest and assume all restrictions and
conveyances as recorded on all said instruments secured by the Deed of Trust. The City shall have
the right, in the event of any breach by the Owner of any covenant or agreement herein, to exercise
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all the rights and remedies, and to maintain any actions at law or suits in equity or other proper
proceedings to enforce the curing of such breach of covenant or agreement. Notwithstanding the
foregoing, however, the Owner and the successors in interest to the Owner named herein shall be
liable for performance hereof only during their respective period of ownership of the Property,
provided that the “transferee” Owner has in writing assumed and agreed to perform the “transferor”
Owner’s obligations hereunder.
14. No Speculative Investment . The Owner acknowledges that the acquisition of the
Property by the Owner pursuant to this AHRA is not intended as a speculative financial investment.
15. Administration. The City may administer the terms hereof or may, from time to
time assign its rights hereunder or designate another entity, person, licensed real estate broker or
organization to administer the terms hereof.
16. Independent and Severable Provisions. If any provision of this instrument is held
by a court of competent jurisdiction to be unenforceable or invalid, such holding shall not render
unenforceable any other provision hereof, each provision hereof being expressly severable and
independently enforceable to the fullest extent permitted by law.
17. Further Assurances and Recordations. The Owner covenants that upon request of
the City Manager, the Owner, or its heirs, successors or assigns, will execute, acknowledge and
deliver, or cause to be executed, acknowledged and delivered, such further instruments and
agreements and do such further acts as may be necessary, desirable or proper to carry out more
effectively the purpose of this instrument. At the expiration of the Term, the City Manager agrees
to provide to the Owner an instrument in recordable form that has the effect of confirming the
termination of the affordable housing requirements of this instrument.
18. Captions and Section Headings. Captions and section headings used herein are for
convenience only and shall not be used in construing this instrument.
19. No Waiver. No waiver by the City of its rights hereunder, or of any breach by the
Owner of any covenant, restriction, or condition herein contained, shall be effective unless such
waiver is in writing, signed by the City Manager and delivered to the Owner. Any waiver by the
City of its power to terminate the Owner’s estate herein or of any covenant, restriction, or condition
herein contained, or the failure by the City to exercise any right or remedy with respect to any
breach or breaches, shall not constitute a waiver or relinquishment for the future of any rights
regarding subsequent sales, or of any such covenant or condition nor bar any right or remedy of
the City in respect of any subsequent breach.
20. Entire Agreement . This instrument and its exhibits and/or attachments constitutes
the entire agreement of the parties hereto, and the provisions hereof may be modified or amended
only by a written instrument signed by the party to be char ged.
21. Attorneys’ Fees. In any action brought to declare the rights granted herein or to
enforce or to interpret any of the terms of this AHRA, the prevailing party shall be entitled to an
award of reasonable attorneys’ fees in an amount determined by t he court.
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22. Amendments. Only the City, its successors and assigns, and the Owner and its
successors and assigns, shall have the right to consent and agree to changes in, or to eliminate in
whole or in part, any of the covenants, easements, or other rest rictions contained in this AHRA, or
to subject the Property to additional covenants, easements or other restrictions.
23. Successors and Assigns. This AHRA shall be binding upon and inure to the benefit
of the City and the Owner, and their respective successors and assigns. The terms and provisions
hereof shall run with the Property and shall be a burden upon the Property, and shall be binding
upon the Owner’s successors in interest as purchasers of the Property, for the benefit of the City.
24. Insurance. Owner shall maintain, during the Term, an all-risk Property insurance
policy insuring the Property in an amount equal to the full replacement value of all improvements
on the Property. The policy shall name the City as loss payee and shall contain a st atement of
obligation on behalf of the carrier to notify the City of any material change, cancellation or
termination of coverage at least thirty (30) days in advance of the effective date of such material
change, cancellation or termination. Owner shall transmit a copy of the certificate of insurance
and loss payee endorsement to the City Manager within thirty (30) days of the effective date of
this Agreement, and Owner shall annually transmit to City a copy of the certificate of insurance
and loss payee endorsement, signed by an authorized agent of the insurance carrier setting forth
the general provisions of coverage. The copy of the certificate of insurance and loss payee
endorsement shall be transmitted to the Community Development Department as follo ws:
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California 92260
Attn: Housing Division
Any certificate of insurance must be in a form, content, and with companies approved by
City Manager.
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IN WITNESS WHEREOF, the parties hereto have executed this AHRA as of the day and
year first above written.
CITY: CITY OF PALM DESERT,
a California municipal corporation
By:
Name:
Title:
OWNER: THE COACHELLA VALLEY HOUSING
COALITION,
a California non-profit public benefit corporation
By:
Julie Bornstein,
Executive Director
By:
Pedro S.G. Rodriguez
Chief Financial Officer
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF LOS RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF LOS RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the sa me in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or valid ity
of that document.
STATE OF CALIFORNIA
COUNTY OF LOS RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrume nt.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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EXHIBIT “A”
LEGAL DESCRIPTION
That certain real property situated in the City of Palm Desert, County of Riverside, State of
California, described as follows:
LOTS 95 THROUGH 108 OF TRACT 30795, AS PER MAP FILED IN BOOK 406, PAGES 73
THROUGH 80 OF PARCEL MAPS, ALL IN THE OFFICE OF THE COUNTY RECORDER
OF SAID COUNTY OF RIVERSIDE.
ASSESSOR PARCEL NUMBERS 624-440-032, 624-440-034, 624-440-035, 624-440-036, 624-
441-014, 624-441-015, 624-441-016, 624-441-017, 624-441-018, 624-441-019, 624-441-020,
624-441-021, 624-441-022
EXHIBIT “F-1”
FORM OF PURCHASER’S PROMISSORY NOTE, DEED OF TRUST AND
RESTRICTIVE AGREEMENT
(Attached.)
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PURCHASER PROMISSORY NOTE
$ , 202_
FOR VALUE RECEIVED, the undersigned (collectively,
the “Borrower”) hereby promises to pay to the order of the City of Palm Desert (“Lender”) at the
following address 73-510 Fred Waring Drive, Palm Desert, California 92260 or at such other place
as the holder may from time to time designate by written notice to Borrower, in lawful money of
the United States, the sum of Dollars ($ ) with simple interest at the
rate of _____________ percent (__%) per annum on the stated principal balance from the date
hereof, until paid. The obligation of the Borrower with respect to this Purchaser Promissory Note
(“Note”) is secured by a deed of trust (the “Deed of Trust”), executed by the Borrower and dated
substantially concurrently herewith.
1. Borrower’s Obligation. This Note evidences the obligation of the Borrower to the
Lender for a pro -rata portion of a loan (the “CVHC Loan”) made by Lender to Coachella
Valley Housing Coalition (“CVHC”) for the purchase price of land sold by the Lender to
CVHC pursuant to that certain Disposition and Development Agreement by and between
CVHC and the Lender dated as of _____________, 2020 (the “DDA”), which includes the
land (the “Land”) now being acquired by Borrower from CVHC. This Note (and the Deed
of Trust) is being given in exchange for Lender’s release and reconveyance of a deed of
trust encumbering the Land and improvements on the Land (the “Property”) which secures
the CVHC Loan.
2. Repayment of Loan Principal and Interest. No periodic payments are required
hereunder. Borrower agrees to pay the unpaid principal balance, unpaid accrued interest,
and any other amounts due under this Note upon the earliest of:
(a) Upon sale, transfer, lease, or encumbrance of all or any interest in the Property in
violation of that certain Purchaser’s Restrictive Agreement executed by Borrower
and recorded against the Land (the “Restrictive Agreement”); or
(b) Upon any other default by Borrower under the Restrictive Agreement or the DDA
(as assignee of certain obligations and agreements of CVHC thereunder), that is not
cured within any express cure period for such default granted therein; or
(c) Upon a default under any obligation debt that is secured by a deed of trust or other
lien on the Land that is senior or junior to the Deed of Trust and is not cured within
the time period for cure, if any, expressly provided in the documents creating or
securing the obligation.
However, if sums outstanding under this Note do not become due and payable by
the date that is forty-five (45) years from the date of the issuance by the lender of a final certificate
of occupancy with respect to housing unit to be constructed by the Borrower on the Land, then all
principal and accrued interest shall not be payable.
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3. Permitted Assignments.
Borrower’s obligations under this No te may be assigned to and assumed by any Qualified
Household (as defined in the Restrictive Agreement) who acquires the Land in compliance with
such Restrictive Agreement.
4. Application of Payments. All payments received on account of t his Note shall be first
applied to accrued interest, if any, and the remainder shall be applied to the reduction of
principal.
5. Attorneys’ Fees. The Borrower hereby agrees to pay all costs and expenses, including
reasonable attorneys’ fees, which may be incurred by the Lender in the enforcement of this
Note.
6. Notices. Except as may be otherwise specified herein, any approval, notice, direction,
consent, request or other action by the Lender shall be in writing and must be
communicated to the Borrower at the address of the Property, or at such other place or
places as the Borrower shall designate to the Lender in writing by certified mail, from time
to time, for the receipt of communications from the Lender.
7. Prepayment Policy. Borrower may prepay this Note at any time without charge or
premium with payments to be applied first to interest owed and then to the principal amount
owed.
8. Governing Law. This Note shall be construed in accordance with and be governed by
the, laws of the State of California.
9. Severability. If any provision of this Note shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions hereof shall not in any way
be affected or impaired thereby.
10. No Waiver by the Lender. No waiver of any breach, default or failure of condition under
the terms of the Note or Deed of Trust shall thereby be implied from any failure of the
Lender to take, or any delay by the Lender in taking action with respect to such breach,
default or failure or from any previous waiver of any similar or unrelated breach, default
or failure; and a waiver of any term of the Note, Deed of Trust, or any of the obligations
secured thereby must be made in writing and shall be limited to the express written terms
of such waiver.
MAILING ADDRESS OF BORROWER (ADDRESS FOR NOTICES):
, Palm Desert, California 92260
SIGNATURE OF BORROWER(S):
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RECORDING REQUESTED BY, AND
WHEN RECORDED, MAIL TO:
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, CA 92260
Attn:
With a copy to:
APN(s): 624-440-032, 624-440-034, 624-
440-035, 624-440-036, 624-441-014, 624-
441-015, 624-441-016, 624-441-017, 624-
441-018, 624-441-019, 624-441-020, 624-
441-021, 624-441-022
(Space Above This Line For Recorder’s Use)
Free Recording Requested Pursuant To Government Code Section 27383
DEED OF TRUST, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT
This Deed of Trust, Assignment of Rents and Security Agreement is dated
, 2020, and is executed by and , herein
called Trustor, whose address is , in favor of
First American Title Insurance Company, as Trustee, for the benefit of the CITY OF PALM
DESERT, a California municipal corporation herein called Beneficiary.
Witnesseth: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS TO
TRUSTEE IN TRUST, WITH POWER OF SALE, that property in Riverside County, California,
described in Exhibit A attached hereto and incorporated herein by this reference, together with all
improvements and fixtures thereon and all goods and other personal property owned by Trustor
and located thereon (collectively, the “Property”).
TOGETHER WITH the rents, issues and profits thereof, SUBJECT, HOWEVER, to the
right, power and authority hereinafter given to and conferred upon Beneficiary to collect and
supply such rents, issues and profits.
For the Purpose of Securing:
1. Performance of each agreement of Trustor herein contained.
2. Payment of principal and interest, if and when due, under that certain Promissory
Note in the stated principal amount of $ dated substantially concurrently herewith
executed by Trustor in favor of Beneficiary.
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To Protect the Security of This Deed of Trust, Trustor Agrees:
(1) To keep said Property in good cond ition and repair; not to remove or demolish any
building thereon; to complete or restore promptly and in good workmanlike manner any building
which may be constructed, damaged or destroyed thereon and to pay when due all claims for labor
performed and materials furnished thereof; to comply with all laws affecting said Property, or
requiring any alterations or improvements to be made thereon; not to commit or permit waste
thereof; not to commit, suffer or permit any act upon said Property in violation of law ; and to do
all other acts which from the character or use of said Property may be reasonably necessary, the
specific enumerations herein not excluding the general.
(2) To provide or cause to provide, maintain and deliver to Beneficiary fire insurance
satisfactory to and with loss payable to Beneficiary and any superior trust deed holder, as their
interests may appear. The amount collected under any fire or other insurance policy may be
applied by Beneficiary upon any indebtedness secured hereby and in suc h order as Beneficiary
may determine, or at option of Beneficiary the entire amount so collected or any part thereof may
be released to Trustor. Such application or release shall not cure or waive any default or notice of
default hereunder or invalidate any act done pursuant to such notice.
(3) To appear in and defend any action or proceeding purporting to affect the security
hereof or the rights or powers of Beneficiary or Trustee; and to pay all costs and expenses,
including cost of evidence of title and attorney’s fees in a reasonable sum, in any such action or
proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to
foreclose this Deed of Trust.
(4) To pay: at least ten days before delinquency all taxes and assessments affecting said
Property, including assessments on appurtenant water stock; when due, all encumbrances, charges
and liens, with interest, on said Property or any part thereof, which appear to be prior or superior
hereto; all costs, fees and expe nses of this Trust.
Should Trustor fail to make any payment or to do any act as herein provided, then
Beneficiary or Trustee, but without obligation so to do and without notice to or demand upon
Trustor and without releasing Trustor from any obligation her eof, may: (a) make or do the same
in such manner and to such extent as either may deem necessary to protect the security hereof,
Beneficiary or Trustee being authorized to enter upon said Property for such purposes; (b) appear
in and defend any action or proceeding purporting to affect the security hereof or the rights or
powers of Beneficiary or Trustee; (c) pay, purchase, contest or compromise any encumbrance,
charge or lien which in the judgment of either appears to be prior or superior hereto; and (d) in
exercising any such powers, pay necessary expenses, employ counsel and pay his reasonable fees.
(5) To pay immediately and without demand all sums so expended by Beneficiary or
Trustee, with interest from date of expenditure at the amount allowed by law in effect at the date
hereof, and to pay for any statement provided for by law in effect at the date hereof regarding the
obligation secured hereby any amount demanded by the Beneficiary not to exceed the maximum
allowed by law at the time when said statement is demanded.
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(6) That any award of damages in connection with any condemnation for public use of
or injury to said Property or any part thereof is hereby assigned and shall be paid to Beneficiary
(and to any superior trust deed holder, as their interests may appear) who may apply or release
such moneys received by him in the same manner and with the same effect as above provided for
disposition of proceeds of fire or other insurance.
(7) That by accepting payment of any sum secured hereby after its due date,
Beneficiary does not waive his right either to require prompt payment when due of all other sums
so secured or to declare default for failure so to pay.
(8) That at any time or from time to time, without liability therefore and without notice,
upon written request of Beneficiary and presentation of this Deed of Trust and said note for
endorsement, and without affecting the personal liability of any person for payment of the
indebtedness secured hereby, Trustee may: (a) reconvey any part of said Property; (b) consent to
the making of any map or plat thereof; (c) join in granting any easement thereon; or (d) join in any
extension agreement or any agreement subordinating the lien or charge hereof.
(9) That upon written request of Beneficiary stating that all sums secured hereby have
been paid, and upon surrender of this Deed of Trust and said note to Trustee for cancellation and
retention and upon payment of its fees, Trustee shall reconvey, without warranty, the Property then
held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof
of the truthfulness thereof. The grantee in such reconveyance may be described as “the person or
persons legally entitled thereto.” Five years after issuance of such full reconveyance, Trustee may
destroy said note and this Deed of Trust (unless directed in such request to retain them).
(10) That as additional security, subject to the rights of superior trust deed holders, as
their interests may appear, Trustor hereby gives to and confers upon Beneficiary the right, power
and authority, during the continuance of these trusts, to collect the rents, issues and profits of said
Property, reserving unto Trustor the right, prior to any default by Trustor in payment of any
indebtedness secured hereby or in performance of any agreement hereunder, to collect and retain
such rents, issues and profits as they become due and payable. Upon any such default, Beneficiary
may at any time without notice, either in person, by agent, or by a rece iver to be appointed by a
court, and without regard to the adequacy of any security for the indebtedness hereby secured,
enter upon and take possession of said Property or any part thereof, in his own name sue for or
otherwise collect such rents, issues and profits, including those past due and unpaid, and apply the
same, less costs and expenses of operation and collection, including reasonable attorneys’ fees,
upon any indebtedness secured hereby, and in such order as Beneficiary may determine. The
entering upon and taking possession of said Property, the collection of such rents, issues and profits
and the application thereof as aforesaid, shall not cure or waive any default or notice of default
hereunder or invalidate any act done pursuant to such notice.
(11) That upon default by Trustor in payment of any indebtedness secured hereby, or in
performance of any agreement hereunder, or default by Trustor under the DDA or Restrictive
Agreement (each as defined in the Note), executed by Trustor that is not cur ed within the cure
period, if any, described therein and applicable to the default, Beneficiary may declare all sums
secured hereby immediately due and payable by delivery to Trustee of written declaration of
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default and demand for sale and of written notice of default and election to cause to be sold said
Property, which notice Trustee shall cause to be filed for record.
After the lapse of such time as may then be required by law following the recordation of
said notice of default, and notice of sale having been given as then required by law, Trustee,
without demand on Trustor, shall sell said Property at the time and place fixed by it in said notice
of sale, either as a whole or in separate parcels, and in such order as it may determine, at public
auction to the highest bidder for cash in lawful money of the United States, payable at time of sale.
Trustee may postpone sale of all or any portion of said Property by public announcement at such
time and place of sale, and from time to time thereafter may post pone such sale by public
announcement at the time fixed by the preceding postponement. Trustee shall deliver to such
highest bidder its deed conveying the Property so sold, but without any covenant or warranty,
express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of
the truthfulness thereof. Any person, including Trustor, Trustee, or Beneficiary may purchase the
Property at such sale.
After deducting all costs, fees and expenses of Trustee and of this Trust, inc luding cost of
evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of:
all sums expended under the terms hereof, not then repaid, with accrued interest at the amount
allowed by law in effect at the date hereof; all other sums then secured hereby; and the remainder,
if any, to the person or persons legally entitled thereto.
(12) Beneficiary, or any successor in ownership of any indebtedness secured hereby,
may from time to time, by instrument in writing, substitute a successor or successors to any Trustee
named herein or acting hereunder, which instrument, executed by the Beneficiary and duly
acknowledged and recorded in the office of the recorder of the county or counties where said
Property is situated, shall be co nclusive proof of proper substitution of such successor Trustee or
Trustees, who shall, without conveyance from the Trustee predecessor, succeed to all its title
estate, rights, powers and duties. Said instrument must contain the name of the original Trus tor,
Trustee and Beneficiary hereunder, the book and page where this Deed of Trust is recorded and
the name and address of the new Trustee.
(13) That this Deed of Trust applies to, inures to the benefit of, and binds all parties
hereto, their heirs, legatees, devisees, administrators, executors, successors and assigns. The term
Beneficiary shall include the owner and holder, including pledges, of the note secured hereby,
whether or not named as Beneficiary herein. In this Deed of Trust, whenever the conte xt so
requires, the masculine gender includes the feminine and/or neuter, and the singular number
includes the plural.
(14) That Trustee accepts this Trust when this Deed of Trust, duly executed and
acknowledged, is made a public record as provided by law. Trustee is not obligated to notify any
party hereto of pending sale under any Deed of Trust or of any action or proceeding in which
Trustor, Beneficiary or Trustee shall be a party unless brought by Trustee.
(15) If the Trustor shall sell, lease, transfer, assign, convey, encumber, mortgage,
hypothecate or alienate the real Property described herein, or any part thereof, or any interest
therein, or shall be divested of title or any interest therein in any manner or way, whether
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voluntarily or involuntarily (except as permitted by Beneficiary pursuant to the terms and
conditions set forth in the Restrictive Agreement), or if Trustor shall fail to make any payments
due under the note secured by this Deed of Trust, or fail to perform any other obligation unde r said
Restrictive Agreement, this Deed of Trust or the note secured hereby, or any other deed of trust
encumbering the subject Property, then Beneficiary shall have the right, at its option, to declare
any indebtedness or obligations secured hereby, irrespective of the maturity date specified in any
note evidencing the same, immediately due and payable.
(16) Notwithstanding anything provided herein to the contrary, the Beneficiary agrees
to look solely to the Trustor’s interest in the Property encumbered hereby and improvements
thereon (or the proceeds thereof) for the satisfaction of any remedy of the Beneficiary, and for the
collection of a judgment (or other judicial process) requiring the payment of money by the Trustor,
except where such judgment results from a claim of fraud; intentional misrepresentation;
misapplication; misappropriation; or wrongful retention of rental income; casualty insurance;
condemnation proceeds; or other funds attributable to the Property; the commission of any act of
deliberate waste with respect to the Property encumbered hereby; or the deposit of any hazardous
or toxic materials on the Property encumbered hereby; in which events there shall be no such
limitation on the Beneficiary’s recourse against the Trustor.
(17) Any breach or default under the Restrictive Agreement or the DDA shall be deemed
a breach of this Deed of Trust.
(18) This Deed of Trust is also intended to be and shall constitute both a Security
Agreement and a “fixture filing” as defined in the California Commercial Code, the Trustor being
the Debtor and the Beneficiary being the Secured Party. Trustor hereby grants Beneficiary a
security interest in all fixtures, and in all goods which are or are to become fixtures on the Land,
for the purpose of securing all indebtedness and other obligations of Trustor now or hereafter
secured by this Deed of Trust. The products of such collateral are also covered hereby. This Deed
of Trust, as a fixture filing, is to be recorded in the real estate records covering the rea l property
covered hereby. Trustor authorizes Beneficiary to execute, deliver, file and record (as necessary)
financing and continuation statements covering such property from time to time in such form as
Beneficiary may require to perfect and continue the perfection of Beneficiary’s security interest
with respect to such property, and to reimburse Beneficiary for any costs incurred in filing such
financing statements and any continuation statements. Trustor shall not create or allow the creation
of any o ther security interest in such property. Upon the occurrence of any default by Trustor
hereunder, Beneficiary shall have the rights and remedies of a secured party under the California
Commercial Code, as well as all other rights and remedies available at law or in equity or as
provided herein, all at Beneficiary’s option. Trustor and Beneficiary agree that the filing of a
financing statement in the records normally having to do with personal property shall never be
construed as in any way derogating from or impairing this declaration and the hereby stated
intention of the parties hereto that everything used in connection with the operation or occupancy
of such property or the production of income therefrom is and, at all times and for all purposes and
in all proceedings, both legal and equitable, shall be regarded as real property encumbered by this
Deed of Trust and fixture filing, irrespective of whether (a) any such item is physically attached to
the buildings and improvements, (b) serial numbers are used for the better identification of certain
equipment, or (c) any such item is referred to or reflected in any such financing statement so filed
at any time. Such mention in the financing statement is declared to be for the protection of the
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Beneficiary in the event any court or judge shall at any time hold that notice of Beneficiary’s
priority of interest must be filed in the Uniform Commercial Code records to be effective against
a particular class of persons, including, but not limited to, the federal g overnment and any
subdivisions or entities of the federal government.
The undersigned Trustor requests that a copy of any Notice of Default and of any Notice
of Sale hereunder be mailed to him at his address hereinbefore set forth.
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrume nt.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificat e is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrume nt.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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EXHIBIT “A”
LEGAL DESCRIPTION
That certain real property situated in the City of Palm Desert, County of Riverside, State of
California, described as follows:
LOTS 95 THROUGH 108 OF TRACT 30795, AS PER MAP FILED IN BOOK 406, PAGES 73
THROUGH 80 OF PARCEL MAPS, ALL IN THE OFFICE OF THE COUNTY RECORDER
OF SAID COUNTY OF RIVERSIDE.
ASSESSOR PARCEL NUMBERS 624-440-032, 624-440-034, 624-440-035, 624-440-036, 624-
441-014, 624-441-015, 624-441-016, 624-441-017, 624-441-018, 624-441-019, 624-441-020,
624-441-021, 624-441-022
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RECORDING REQUESTED BY
AND WHEN RECORDED RETURN TO:
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California
Attn:
With a copy to:
EXEMPT FROM RECORDING FEES
PURSUANT TO G.C. 6103
(Space Above This Line For Recorder’s Use)
PURCHASER’S RESTRICTIVE AGREEMENT
THIS PURCHASER’S RESTRICTIVE AGREEMENT (the “Restrictive Agreement”)
including DECLARATIONS OF CONDITIONS, COVENANTS AND RESTRICTIONS dated as
of the __ day of _____________, 20___ (the “Effective Date”), is by and between the CITY OF
PALM DESERT, a California municipal corporation (the “City”), and
______________________________, a _____________________ (the “Owner”).
RECITALS
A. The Owner is concurrently herewith acquiring that certain real property to be
improved with a single-family residence and located in the City of Palm Desert, County of
Riverside, State of California described in Exhibit “A” attached hereto and incorporated herein by
reference (the “Property”).
B. The City and Coachella Valley Housing Coalition, a California nonprofit public
benefit corporation (“Developer”) are parties to that certain Disposition and Development
Agreement dated , 2020 (the “DDA”). Pursuant to the DDA, the Developer
has acquired all necessary entitlements with respect to the Property and the Owner, as a Qualified
Household (as defined below), is obligated under the DDA to construct a single-family residential
dwelling unit on the Property (the “Unit”). The Owner is a Qualified Household.
C. To further the interests of the City, and as required by the DDA, Owner has agreed
to enter into and record this Restrictive Agreement, the purpose of which is to regulate and provide
certain restrictions with regard to occupancy, resale, and ownership of the Property.
NOW, THEREFORE, the parties agree as follows:
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AGREEMENT
1. Fundamental Provisions. The following shall serve as the basic terms of this
Restrictive Agreement:
(a) The name of the Owner is _____________________________________.
(b) The address of the Property is __________________ and it is legally
described as attached in Exhibit “A”.
(c) References herein to statutes or regulations shall be to such statutes or
regulations as amended from t ime to time, and to any successor statutes and regulations.
2. Term of Restrictive Agreement . This Restrictive Agreement shall commence upon
the date of recordation hereof in the official records of the County Recorder, and shall continue
for a period of forty-five (45) years from the date of the issuance by the City of a final certificate
of occupancy with respect to the Unit (the “Term”). The City has determined that forty-five (45)
years is the longest period feasible for continuing the Term of this Re strictive Agreement. Upon
resale of the Property, the City shall have the right to require the new buyer to enter into a new
Affordable Housing Restriction Agreement in substantially the form hereof with a forty-five (45)-
year term from the date of resale.
3. Definitions. For purposes of this Restrictive Agreement, the terms listed below
shall have the meanings thereinafter specified.
(a) AMI means the median family income of the Riverside-San Bernardino
Statistical Area (SMSA), as determined and published annually by the California Department of
Housing and Community Development (“HCD”), as described in California Health and Safety
Code Section 50093, and the regulations promulgated thereunder. The AMI shall be adjusted for
family size in accordance with state regulations adopted pursuant to California Health and Safety
Code Section 50052.5.
(b) Affordable Housing Cost means a housing cost which is calculated pursuant
to California Health and Safety Code Section 50052.5, as amended from time to time, and for the
purposes hereof, the term “housing cost” shall have the meaning ascribed to such term in Title 25
of the California Code of Regulations Section 6920, as amended from time to time, and the term
“gross income” shall have the meaning ascribed to such term in Title 25 of the California Code of
Regulations Section 6914.
(c) Person, Family, or Household of Low or Very Low Income means a person,
family or household of one or more persons occupying the same housing unit whose household
income does not exceed the limits set forth in California Health and Safety Code Sections 5093,
50105 and Title 25 of the California Code of Regulations Section 6910, et seq., adjusted for family
size.
(d) Qualified Household means a Person, Family, or Household of Low or Very
Low Income whose income does not exceed ___% [80%] [60%] [50%] of the AMI. [PICK THE
PERCENTAGE THAT APPLIES TO BUYER/OWNER] and that would not cause the
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occupancy of the Unit to exceed the maximum occupancy allowed by the Palm Desert Municipal
Code.
(e) Escrow and Title Costs are to include only those customary fees charged by
an escrow agent and title insurance company with respect to the administration of escrow and the
issuance of an owner’s policy of title insurance. These are not to include loan fees, refinancing
fees, broker commissions, prepaid items, homeowner’s dues, or other fees not directly related to
the transfer of ownership.
(f) First-Time Homebuyer means an individual or individuals or an individual
and his or her spouse who have not owned a home during the three-year period before the purchase
of a home with subsidy assistance, except that the following individual or individuals may not be
excluded from consideration as a First -Time Homebuyer under this definition:
(i) a displaced homemaker who, while a homemaker, owned a home
with his or her spouse or resided in a home owned by the spouse. A displaced homemaker is an
adult who has not, within the preceding two (2) years, worked on a full-time basis as a member of
the labor force for a consecutive twelve-month period and who has been unemployed or
underemployed, experienced difficulty in obtaining or upgrading employment and worked
primarily without remuneration to care for his or her home and family;
(ii) a single parent who, while married, owned a home with his or her
spouse or resided in a home owned by the spouse. A single parent is an individual who is
unmarried or legally separated from a spouse and has one or more minor children for whom the
individual has custody or joint custody or is pregnant; and
(g) Owner means both the party identified as “Owner” in first paragraph of this
Restrictive Agreement, and any successor in interest of such Owner with respect to the Property.
4. Restriction on Transfer.
(a) The Owner shall not voluntarily or involuntarily, in whole or in part, sell,
convey, transfer, lease, sublease, assign, encumber, mortgage, refinance, or hypothecate the
Property, or enter into agreements to sell, convey, transfer, lease, sublease, assign, encumber,
mortgage, refina nce, or hypothecate the Property, except in compliance with the terms of this
Restrictive Agreement and the DDA, and with the prior written approval of the City Manager.
Failure to obtain the prior written approval of the City Manager will be deemed a bre ach of this
Restrictive Agreement.
(b) Any violation or breach of the provisions hereof is prohibited and any sale
or other transfer of the Property enumerated in Section 4(a) above, in whole or in part, without the
City Manager’s written approval, during the Term, as defined herein, shall be null, void and
unenforceable.
(c) In the event of the death of the Owner with no qualified surviving joint
tenants, the City will work with the heirs, probate court, or other responsible party to either exercise
its option to reacquire the Property in accordance with Section 8 hereof or identify a Qualified
Household to purchase the Property.
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5. Covenant to Maintain Affordability.
(a) The Property is being conveyed to the Owner to increase and improve the
community’s supply of low-income housing available at an Affordable Housing Cost. The Owner
shall sell, convey, assign, or transfer ownership or occupancy of the Property only to persons who
cannot obtain comparable housing at affordable costs on the open market as pro vided in Health
and Safety Code Section 33334.2(e)(8). To this end, the Owner agrees that during the Term the
Property shall, except as provided in Sections 6, 8 and 9 hereof, remain available only at an
Affordable Housing Cost and shall only be occupied by Qualify Households. In addition, if,
without the City Manager’s consent, the Owner fails to occupy the Unit as the Owner’s sole and
primary residence for a period of ninety (90) calendar days, cumulatively, in any calendar year,
then the Owner shall be in breach of this Restrictive Agreement.
(b) Subject to the provisions of Section 12 hereof, if after the expiration of the
entire Term the Owner has not either (i) sold, conveyed, transferred, or assigned the Property
except to a Qualified Household, where expressly permitted by Section 6 hereof, or (ii) leased or
subleased the Property in violation of the terms hereof, or (iii) refinanced, hypothecated,
encumbered, or mortgaged the Property in violation of the terms hereof, or (iv) sold the Property
at a price exceeding the maximum price permitted under Section 11 hereof, or (v) otherwise
breached the terms and provisions hereof, then the City shall remove the affordability restriction.
(c) As a condition to selling the Property, Owner and any person or e ntity to
whom Owner sells the Property or any other successors in interest to the Property, who will then
also be an “Owner”, shall require the buyer of the Property to execute, acknowledge and deliver
to the City Manager an assumption of this Restrictive Agreement and of the Promissory Note that
was executed by Owner (in form and substance acceptable to the City Manager) which shall
include a requirement that any subsequent buyer of the Property shall also execute, acknowledge
and deliver to the City Manag er such an assumption agreement.
6. Permitted Transfers and Mortgages.
(a) Conveyances to Qualified Households Property. Subject to the option
rights of the City herein, the Owner may convey the Property to Qualified Households, on the
condition that (i) the Owner has completed the construction of the subject Unit on the Property
and the City has issued a final Certificate of Occupancy with respect thereto; (ii) the Owner
complies with the requirements of Sections 9 and 11 hereof, (iii) the purchaser covenants to occupy
the Unit as such party’s sole and primary residence, and (iv) the purchase price does not exceed
the maximum permitted resale price set forth in Section 11 hereof. Any permitted transferee shall
acquire the Property subject to the terms and conditions hereof or a new Affordable Housing
Restriction Agreement at the City Manager’s discretion. Any permitted transferee shall execute
in recordable form any documents necessary to accommodate the transfer in form and content
satisfactory to the City Manager.
(b) Intra-Family Conveyances. The following transfers of title shall not be
breaches of this instrument: transfer by gift, devise, or inheritance to the Owner’s spouse; taking
of title by surviving joint tenant that is the Owner’s spouse; transfer of title to a spouse as part of
a divorce or dissolution proceeding; acquisition of title in conjunction with marriage; transfers of
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title to adult child when the child is approved by the City Manager or his designee as a Qualified
Household at the time of transfer. A transfer to children of the Owner where the income of such
children exceeds the maximum household income permitted hereunder shall give rise to the option
in favor of the City to purchase the Property described in Section 8; provided, however, such option
shall be exercised by the City within 60 days after receipt by the City of written notice of such
transfer, and the purchase price shall be the amount set forth in Section 8(e).
(c) First Trust Deed - Purchase/Construction. The Owner may encumber the
Property with a senior deed of trust or mortgage securing a purchase money/construction loan on
the condition that the trust deed finances the construction cost of the Unit and complies with the
terms of this Restrictive Agreement.
(d) Refinancing of First Trust Deed. The Owner, may refinance any such
purchase money loan secured by a deed or mortgage encumbering the Unit provided that prior
written approval of the transaction is obtained from the City according to the notification and
approval process designated in Section 10 belo w. Approval will be subject to the limitations that
the principal amount, interest, terms and conditions are reasonable at the time the refinancing takes
place (in the opinion of the City), and that the principal amount thereof does not exceed the origina l
principal amount of the loan secured by the first trust deed or mortgage being refinanced (plus
reasonable loan fees and costs) and together with all subordinate deeds of trust and liens does not
over encumber the property or make the cost of owning the Property exceed the Affordable
Housing Cost. Failure to obtain prior City approval to refinance any such trust deed or mortgage
encumbering the Unit shall be deemed a violation or breach of terms of this Restrictive Agreement
and at the option of the City shall constitute a default hereunder.
(e) Junior Deeds of Trust. Any loan to be secured by a deed of trust
encumbering the Property shall require the prior written approval of the City Manager according
to the notification and approval process designated in Section 10 below. The City Manager shall
consider in good faith whether to permit a loan of the aforementioned type, subject to the
restrictions that the proceeds of said loan are to be used to pay for repairs or the construction of
improvements to the Property, on the following terms and conditions: (i) the principal amount of
such loan shall not exceed the cost of the repairs or the improvements (plus loan fees and loan
costs), (ii) the loan is originated by a bank, savings and loan association, or other institutional
lender, (iii) the interest rate and payment terms thereon are reasonable (in the City Manager’s
opinion), (iv) the Owner shall be capable of meeting the monthly payments provided by such loan
(in the City’s opinion), and (v) the Propert y is not over encumbered. The improvements to be
finance with the proceeds of any loan shall not include any items that are of a luxury nature, i.e.,
in or above ground pools or spas, interior or exterior decorative items. Failure to obtain prior
approval for any loan to be secured by a deed of trust encumbering the Property shall be deemed
a violation or breach of the terms of this Restrictive Agreement and at the option of the City shall
constitute a default hereunder.
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7. Subordination to First Trust Deed Encumbrances. This Restrictive Agreement shall
not be subordinated to any deed of trust on the Property without the prior written consent of the
City Manager, which consent may be given or withheld in his sole and absolute discretion.
8. City Option to Purchase.
(a) Option. In order to maintain and insure that the Unit shall remain affordable
to and only occupied by a Qualified Household, the City is hereby granted an option, throughout
the Term hereof, to purchase the Property if the Owner desires t o transfer the Property, or to find
another Qualified Household to purchase the Property. The option shall be exercised in writing
by the City Manager, if at all, within sixty (60) days after the City Manager’s receipt of the written
notice (the “Notice o f Proposed Sale”) of the Owner’s desire to transfer the Property as provided
in Section 9(a), below. During such sixty (60) day period Owner may also concurrently attempt
to market the Property to sell it to a Qualified Household, as provided in Section 9 hereof. With
City approval, the Owner may enter into an agreement to sell the Property to a Qualified Household
at a price that does not exceed the maximum price set forth in Section 11 hereof. Provided the
City Manager approves the Qualified Household that the owner presents, then the City shall not
then exercise the option or find another buyer. If the City exercises the Option, then the City
Manager shall promptly open escrow thereafter and shall close escrow for the purchase of the Unit
prior to the date that is sixty (60) days after the City opens escrow. Title to the Property shall be
delivered to the City at the close of escrow free and clear of monetary liens and encumbrances,
and closing costs shall be allocated in the fashion as is customary for buyers and sellers in
Riverside County.
(b) City’s Failure to Close Following Exercise of the Option. If the City
exercises the option to purchase but, due to the City’s sole fault, the City does not close escrow
within one hundred twenty (120) days a fter the date the City first received the Notice of Proposed
Sale, then the Owner shall be entitled to sell the Property to a person or family that is not a
Qualified Household, provided, however, (i) if the Property is sold to a person or family that is not
a Qualified Household or (ii) if the Property is sold at a price that exceeds the maximum resale
price set forth in Section 11 hereof, then the Owner shall repay the Loan.
(c) Terms of Purchase. If the City exercises the option, the purchase price to
be paid by the City shall be paid all in cash at the close of escrow. The Owner may require a
deposit to open escrow in an amount not to exceed three percent (3%) of the purchase price. Title
to the Property shall be delivered to the City at the close of escrow free and clear of monetary liens
and encumbrances. Closing costs shall be allocated between the buyer and seller according to the
customary practices in Riverside County in effect at the time the option is exercised.
(d) Conditions to Close of Escrow. The escrow instructions may provide for
conditions or contingencies of the type and nature customarily included in residential purchase
escrows (including but not limited to inspection by the City and elimination of pests, and
preliminary title report approvals), provided that any such conditions or contingencies (other than
the status of title to the Property at the time of conveyance and other conditions which by their
nature cannot be satisfied prior to closing) must be satisfied or waived on or before the close of
escrow. The proceeds of the sale shall be used to pay off all monetary liens and encumbrances
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upon the close of escrow. Escrow shall close within sixty (60) days after the City exercises its
option to purchase.
(e) Purchase Price. The purchase price of the Property to be paid by the City
pursuant to the City’s exercise of the Option shall be the lesser of:
(i) The actual purchase price paid by the Owner for the Property plus
the costs incurred by the Owner in the construction of the Unit , plus reasonable and customary
Escrow and Title Costs actually incurred by the Owner in purchasing such Property, times a
fraction, the numerator of which is the AMI for the year in which the sale takes place, and the
denominator of which is AMI in which the Owner purchased the Property (and subtracting
therefrom the amount of the Loan, which the City shall assume from the Owner); or
(ii) the maximum resale price determined pursuant to Section 11(a),
below, assuming that the City, as purchaser, is of the same income category as was the seller at
the time the seller purchased the Property; or
(iii) the fair market value of the Property, as determined by an appraiser
approved by the City Manager.
9. Resale Price Controls and Procedures.
(a) If the Owner elects at any time to sell the Property, then the Owner shall,
prior to signing a listing agreement or other authorization to sell with a real estate broker, first
provide to the City Manager a notice (the “Notice of Proposed Sale”) setting forth the Owner’s
intention to sell the Property, and a property information form to be prepared by the City. Such
Notice shall contain information about the Owner’s original purchase price of the Property. City
Manager shall have sixty (60) days from the time following the receipt by the City Manager of the
Notice to find a new buyer for the Property being sold, or sixty (60) days to exercise the City’s
option to purchase described in Section 8; provided, however, the City or its designee may shorten
such time period upon a showing of hardship by the Owner. The Owner agrees to consider as
purchasers those Qualified Households identified on a list that may be maintained by the City.
Nothing contained herein shall be construed as imposing on the City any obligation to find a
purchaser of the Unit if the Owner has elected to sell the Property.
(b) If the Owner resells the Property to a Qualified Household at a price that
does not exceed the price set forth in Section 11, then the provisions hereof shall continue to
encumber t he Property, and the City shall subordinate its interest in this Restrictive Agreement
and the Deed of Trust as provided in Section 7 hereof. Each successor in interest to Owner that is
a Qualified Household shall acquire the Property subject to the affor dability covenants of forty-
five (45) years, and restrictions on such property provided in this Restrictive Agreement and the
Deed of Trust; and if City purchases such property and resells the Property, such acquisition shall
not operate to merge this Rest rictive Agreement and the Deed of Trust into the City’s fee interest.
(c) If, after expiration of the sixty (60) day period, City or its designee has failed
to procure an eligible and qualified buyer and the City has not exercised its option, then the Owner
shall then be free to seek a buyer for the Property without any limitation on resale price or income
category of the purchaser.
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(d) The escrow instructions may provide for conditions or contingencies of the
type and nature customarily included in residential purchase escrows (including but not limited to
financing contingencies, inspection rights, and preliminary title report approvals), provided that
any such conditions or contingencies (other than the status of title to the Property at the time of
conveyance and other conditions which by their nature cannot be satisfied prior to closing) must
be satisfied or waived on or before the close of escrow. The proceeds of the sale shall be used to
pay off all monetary liens and encumbrances upon the close of escrow. Escrow shall close within
a reasonable time after opening thereof.
(e) The Owner shall notify any proposed purchaser in writing prior to such
person’s execution of escrow instructions, deposit receipt, purchase and sale agreement or similar
agreement, whichever is earliest, that the title to the Property will be restricted in the manner
described herein.
(f) The Owner may require a deposit to open escrow in an amount not to exceed
three percent (3%) of the purchase price. Title to the Property shall be delivered to the purchaser
at the close of escrow free and clear of monetary liens and encumbrances, except as provided for
in this Restrictive Agreement. Closing costs shall be allocated between the buyer and seller
according to the customary practices in Riverside County in effect at the time the escrow is opened.
(g) For the purpose of confirming with the City that a proposed purchaser is a
Qualified Household that will be paying a purchase price that is in compliance with the terms
hereof, the Owner shall notify the City Manager in writing of any offer from a prospective
purchaser which the Owner intends to accept, disclosing the identity of such prospective purchaser
and providing the City with such financial, credit, and other information on such prospective
purchaser as required by the City, including the following:
(i) Name and address of the purchaser.
(ii) Number of persons comprising the purchaser’s household and their
names and ages.
(iii) Proposed purchase price of the Property, and any other
consideration for the purchase of the Property.
(iv) Verification purchaser is a First Time Home Buyer.
(v) Amount of down payment.
(vi) Terms of any loan that will be used by the purchaser to finance the
purchase of the Unit, including, but not limited to, principal, interest rate, term, and loan fees.
(vii) Closing date.
(viii) Aggregate annual income of the purchaser’s household.
(ix) Most recent federal and state income tax returns of the purchaser
and all other members of the purchaser’s household for the preceding two (2) calendar years, and
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verification of the proposed purchaser’s salary or wages from the purchaser’s employer or from
current pay stubs showing year to date as well as period payroll for the preceding two (2) calendar
years.
(x) Copy of any proposed purchase and sale agreement, escrow
instructions, loan application, or other agreements between the Owner and the purchaser of the
Property or relating to the sale of the Unit including closing documents or any other documentation
that t he City deems appropriate to implement this Restrictive Agreement.
(xi) A written statement signed by the proposed purchaser that the Unit
will be occupied by the purchaser of such Unit and used as his or her primary residence.
In lieu of providing the foregoing information, these requirements shall be deemed to have been
satisfied by delivery to the City Manager of a written certification of the foregoing information
from the purchaser’s lender who shall hold a first position trust deed encumbering the Pro perty,
which certification shall be furnished to the City Manager at least 15 days prior to the close of
escrow for the Property.
The City Manager shall have 30 days to review the information (unless the City received the
certification from prospective purchaser’s lender, in which case the City shall have 15 days to
review the information). If the City Manager fails to approve the purchaser within such period of
time, then the purchaser shall be deemed approved by the City. The City Manager may require
the purchaser to submit other written documentation reasonably requested by the City Manager to
verify the information set forth herein and to determine that the Affordable Housing Cost
restrictions of this instrument are being satisfied. If the City Manager receives all such prospective
purchaser information requested by the City Manager, the City Manager shall determine whether
the prospective purchaser is a Qualified Household, and shall thereafter immediately notify the
Owner in writing that the prospect ive sale is authorized and approved, or that the prospective
purchaser does not qualify to purchase the Unit as a Qualified Household.
If the City Manager notifies the Owner that the sale is authorized and approved, the Owner shall
proceed to complete the sale of the Property within seventy-five (75) days of the date of such
approval from the City Manager.
10. Notification Prior to Mortgage, Encumbrance or Hypothecation. If Owner desires
to refinance any loan secured by a first trust deed encumbering the Unit pursuant to Section 6(d),
or to borrow funds for a new loan to be secured by a junior trust deed encumbering the Unit the
proceeds of which are to be used to pay for repairs or the construction of improvements to the
Property pursuant to Section 6(e), prior written approval of the City Manager is required. To
request approval, at least 30 days prior to the recordation of the intended deed of trust or mortgage,
the Owner shall submit to the City Manager in writing the following information:
(a) Name and address of lender.
(b) Terms of the loan, including, but not limited to, principal, interest rate, term,
and loan fees.
(c) Closing date of the loan.
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(d) Copy of any proposed escrow instructions, loan application, or other
agreements between the Owner and the lender.
(e) Written documentation of compliance with the conditions for City approval
as set forth in Section 6(d) or Section 6(e), whichever applies.
(f) Other written documentation reasonably requested by the City to verify the
information set forth herein.
The City Manager shall have twenty (20) working days, after its receipt of all of such
information to approve or disapprove the proposed refinancing or loan.
11. Restriction on Resale Price. Except as otherwise provided in by Sections 8 and 9,
the Owner shall not resell the Property at a price higher than the lesser of the following:
(a) An Affordable Housing Cost for the prospective purchaser, assuming (i) a
reasonable down payment, and (ii) a 30 year fixed rate mortgage at prevailing interest rates.
(b) The sum of:
(i) the selling Owner’s original purchase price for the Unit times a
fraction, the numerator of which is the AMI for the year in which the sale takes place, and the
denominator of which is AMI in which the Owner purchased the Unit; p lus
(ii) Escrow and Title Costs; plus
(iii) if the Owner sells the Property after a default under a mortgage or
deed of trust, but prior to a trustee’s sale or foreclosure sale, the purchase price shall be further
increased by all expenses actually incurred by the holder of such mortgage or beneficiary under
such deed of trust due to the Owner’s default including, but not limited to, trustee’s fees, attorney’s
fees, costs of sale and debt service on the debt secured by such mortgage or deed of trust.
(c) the fair market value of the Property, as determined by an appraiser
approved by the City Manager.
12. Annual Report. The City Manager shall have the option of requesting information
not more than once annually, to implement and verify compliance wit h this Restrictive Agreement.
13. Nondiscrimination Covenants. By the Owner’s acceptance hereof, the Owner
agrees, for itself and its successors and assigns, to refrain from restricting the transfer of the Unit
on the basis of race, color, creed, religion, ancestry, sex, marital status, national origin or age of
any person. All such deeds and leases entered into with respect to the Property shall contain or be
subject to substantially the following nondiscrimination or nonsegregation clauses:
(a) In deeds: “The grantee herein covenants by and for himself or herself, his
or her heirs, executors, administrators and assigns, and all persons claiming under or through them,
that there shall be no discrimination against or segregation of, any person or group of persons on
account of any basis listed in subdivision (a) or (d) of Section 12955 of the California Government
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Code, as those bases are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of
subdivision (p) of Section 12955, and Section 12955.2 of the California Government Code, in the
sale, transfer, use, occupancy, tenure or enjoyment of the premises herein conveyed, nor shall the
Grantee himself or herself, or any person claiming under or through him or her, establish or permit
any practice or practices of discrimination or segregation with reference to the selection, location,
number, use or occupancy of vendees in the premises herein conveyed. The foregoing covenants
shall run with the land.
Notwithstanding the immediately preceding paragraph, with respect to familial status, said
paragraph shall not be construed to apply to housing for older persons, as defined in Section
12955.9 of the California Government Code. With respect to familial status, nothing in said
paragraph shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of the
California Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51 and
Section 1360 of the California Civil Code and subdivisions (n), (o) and (p) of S ection 12955 of the
California Government Code shall apply to said paragraph.”
(b) In contracts: “The contracting party or parties hereby covenant by and for
himself or herself and their respective successors and assigns, that there shall be no discrimina tion
against or segregation of any person or group of persons, on account of any basis listed in
subdivision (a) or (d) of Section 12955 of the California Government Code, as those bases are
defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of subdivision (p) of
Section 12955, and Section 12955.2 of the California Government Code, in the sale, transfer, use,
occupancy, tenure or enjoyment of the premises, nor shall the contracting party or parties, any
subcontracting party or parties, or their respective assigns or transferees, establish or permit any
such practice or practices of discrimination or segregation.
Notwithstanding the immediately preceding paragraph, with respect to familial status, said
paragraph shall not be construed to apply to housing for older persons, as defined in Section
12955.9 of the California Government Code. With respect to familial status, nothing in said
paragraph shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and 799.5 of the
California Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51 and
Section 1360 of the California Civil Code and subdivisions (n), (o) and (p) of Section 12955 of the
California Government Code shall apply to said paragraph.”
The foregoing shall be a covenant running with the land for the benefit of, and as a burden
upon the Property, and shall remain in effect in perpetuity. Nothing contained herein shall be
construed as permitting the Owner or Successors to rent or lease the Propert y without the City’s
prior written consent.
14. Completion of Back Yard; Maintenance of the Unit/Prohibition Against Waste .
Owner shall complete back yard improvements (that can feature greenery, hardscape, and other
features as it prefers to long as it minimizes exposed native soil) within twelve (12) months after
the Owner receives a certificate of occupancy issued by the City. All such improvements shall be
made in a workmanlike manner. The Owner shall not commit waste upon the Property. The
Owner shall not remove or demolish the improvements on the Property. The Owner shall,
throughout the Term hereof, keep and maintain the Property and the improvements thereon in good
condition and repair. If the Owner at any time fails to so keep and maintain the Property in good
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condition and repair, after thirty (30) days’ notice from the City Manager, the City shall have a
right to enter onto the Property and perform such deferred maintenance, and the Owner shall
promptly reimburse the City for all costs incurr ed by the City in performing such maintenance.
15. Default. No default notice shall be required or cure period shall be provided for a
default by Owner consisting of a conveyance of the Property in violation of this Agreement. If
either party defaults with regard to any of the other provisions of this Restrictive Agreement, the
nondefaulting party shall serve written notice of such default upon the defaulting party. If the
default is not cured by the defaulting party within thirty (30) days after service of the notice of
default, or if the default is not commenced to be cured within thirty (30) days after service of the
notice of default and is not cured promptly within a reasonable period of time after commencement,
the defaulting party shall be liable t o the other party for damages caused by such default. Upon
any such default by Owner (not cured within the cure period, if applicable), City may (in addition
to any other rights or remedies it may have), demand payment of the Promissory Note in favor of
City secured by the Property, and if not paid within ten (10) days, commence foreclosure of the
deed of trust securing said Promissory Note.
16. Notices. All notices to be delivered to the parties pursuant to the terms hereof shall
be in writing and shall be delivered in person or by U.S. Mail or other delivery service to the
addresses listed below.
Any of the following addresses may be changed by written notice. If notice is given it shall
be deemed effective upon 3 business days after deposit of same, po stage prepaid, in the U.S. Mail,
or the date of actual receipt as evidenced by personal acknowledgment, return receipt or other
comparable means.
If to Owner:
If to the City: City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California 92260
Attn: Community Development Department
Tel. No.:
Email:
17. Covenants to Run With the Land. The covenants established in this Restrictive
Agreement shall be binding on the Owner and any successor in interest of the Owner, and shall be
for the benefit and in favor of the City, its successors and assigns, [?] [and Alphonso Sanchez the
real party in interest under that certain Stipulation for Entry of Judgment, Riverside County
Superior Court Case No. INDIO 51124; and such covenants shall run with the land in favor of the
City and shall be a burden upon the Property and shall be for the benefit of the parcels that comprise
the Project Area owned by the City of Palm Desert, as described in Instrument No. 23610, recorded
on December 22, 1981 in the Official Records of Riverside County.] [?] The City is deemed the
beneficiary of the terms and provisions of this Restrictive Agreement and of the covenants running
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with the land, for and in its own rights and for the purposes of protecting the interests of the
community and other parties, public or private, in whose favor and for whose benefit this
Restrictive Agreement and the covenants running with the land have been provided. The
covenants hereof shall be enforceable by any of the persons or entities set fo rth in Health and
Safety Code Section 33334.3(f). The covenants established in this Restrictive Agreement shall be
incorporated by reference in all deeds conveying all or any portion of the Property. The Owner
(and each successor in interest, as the case may be) shall furnish a copy of this instrument to any
successors in interest. The City shall have the right, in the event of any breach by the Owner of
any covenant or agreement herein, to exercise all the rights and remedies, and to maintain any
actions at law or suits in equity or other proper proceedings to enforce the curing of such breach
of covenant or agreement. Notwithstanding the foregoing, however, the Owner and the successors
in interest to the Owner named herein shall be liable for performan ce hereof only during their
respective period of ownership of the Unit, provided that the “transferee” Owner has in writing
assumed and agreed to perform the “transferor” Owner’s obligations hereunder.
18. No Speculative Investment . The Owner acknowledges that the acquisition of the
Property by the Owner pursuant to this Restrictive Agreement is not intended as a speculative
financial investment.
19. Administration. The City may administer the terms hereof or may, from time to
time assign its rights hereunder or designate another entity, person, licensed real estate broker or
organization to administer the terms hereof.
20. Independent and Severable Provisions. If any provision of this instrument is held
by a court of competent jurisdiction to be unenforceable or invalid, such holding shall not render
unenforceable any other provision hereof, each provision hereof being expressly severable and
independently enforceable to the fullest extent permitted by law.
21. Further Assurances and Recordations. The Owner covenants that upon request of
the City Manager, the Owner, or its heirs, successors or assigns, will execute, acknowledge and
deliver, or cause to be executed, acknowledged and delivered, such further instruments and
agreements and do such further acts as may be necessary, desirable or proper to carry out more
effectively the purpose of this instrument. At the expiration of the Term, the City Manager agrees
to provide to the Owner an instrument in recordable form that has the effect of confirm ing the
termination of the affordable housing requirements of this instrument.
22. Captions and Section Headings. Captions and section headings used herein are for
convenience only and shall not be used in construing this instrument.
23. No Waiver. No waiver by the City of its rights hereunder, or of any breach by the
Owner of any covenant, restriction, or condition herein contained, shall be effective unless such
waiver is in writing, signed by the City Manager and delivered to the Owner. Any waiver by the
City of its power to terminate the Owner’s estate herein or of any covenant, restriction, or condition
herein contained, or the failure by the City to exercise any right or remedy with respect to any
breach or breaches, shall not constitute a waiver or relinquishment for the future of any rights
regarding subsequent sales, or of any such covenant or condition nor bar any right or remedy of
the City in respect of any subsequent breach.
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24. Entire Agreement . This instrument constitutes the entire agreeme nt of the parties
hereto, and the provisions hereof may be modified or amended only by a written instrument signed
by the party to be charged.
25. Attorneys’ Fees. In any action brought to declare the rights granted herein or to
enforce or to interpret any of the terms of this Restrictive Agreement, the prevailing party shall be
entitled to an award of reasonable attorney’s fees in an amount determined by the court.
26. Amendments. Only the City, its successors and assigns, and the Owner and its
successors and assigns, and successors-in-interest shall have the right to consent and agree to
changes in, or to eliminate in whole or in part, any of the covenants, easements, or other restrictions
contained in this Restrictive Agreement, or to subject the Property to additional covenants,
easements or other restrictions.
27. Successors and Assigns. This Restrictive Agreement shall be binding upon and
inure to the benefit of the City and the Owner, and their respective successors and assigns. The
terms and provisions hereof shall run with the land and shall be a burden upon the land, including
the Property Unit, and shall be binding upon the Owner’s successors in interest as purchasers of
the Property Unit, for the benefit of the City.
28. Foreclosure of Superior Mortgage. In the event of the foreclosure of a deed of trust
superior to the lien hereof (if any such superior deed of trust is permitted by the City Manager as
herein provided), or the conveyance by deed in lieu of foreclosure of the Unit to a bank, sav ings
and loan, or other institutional lender holding such deed of trust superior to the lien hereof, the
provisions hereof shall terminate and be of no force or effect; provided, however, if any such senior
lien holder acquires title to the Unit pursuant to a deed in lieu of foreclosure, then the terms hereof
shall terminate only if (i) the City has been given written notice of a default under the senior deed
of trust and (ii) the City shall not have cured the default under the senior deed of trust, or diligently
pursued the curing of the default as determined by the senior lien holder, within sixty (60) days
after the date the notice is sent to the City Manager.
29. Insurance. Owner shall maintain, during the Term, an all-risk Property insurance
policy insuring the Property in an amount equal to the full replacement value of the structure on
the Property. The policy shall name the City as loss payee and shall contain a statement of
obligation on behalf of the carrier to notify the City of any material change, cancellation or
termination of coverage at least thirty (30) days in advance of the effective date of such material
change, cancellation or termination. Owner shall transmit a copy of the certificate of insurance
and loss payee endorsement to the City Manager within thirty (30) days of the effective date of
this Agreement, and Owner shall annually transmit to City a copy of the certificate of insurance
and loss payee endorsement, signed by an authorized agent of the insurance carrier setting forth
the general provisions of coverage. The copy of the certificate of insurance and loss payee
endorsement shall be transmitted to the Community Development Department as follows:
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California 92260
Attn: Housing Division
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Tel. No.:
Email:
Any certificate of insurance must be in a form, content, and with companies approved by
City Manager.
IN WITNESS WHEREOF, the parties hereto have executed this Restrictive Agreement as
of the day and year first above written.
CITY: CITY OF PALM DESERT,
a California municipal corporation
By:
Name:
Title:
OWNER:
,
Print Name:
,
Print Name:
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the do cument to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrume nt.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrume nt.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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EXHIBIT “A”
LEGAL DESCRIPTION
That certain real property situated in the City of Palm Desert, County of Riverside, State of
California, described as follows:
LOTS 95 THROUGH 108 OF TRACT 30795, AS PER MAP FILED IN BOOK 406, PAGES 73
THROUGH 80 OF PARCEL MAPS, ALL IN THE OFFICE OF THE COUNTY RECORDER
OF SAID COUNTY OF RIVERSIDE.
ASSESSOR PARCEL NUMBERS 624-440-032, 624-440-034, 624-440-035, 624-440-036, 624-
441-014, 624-441-015, 624-441-016, 624-441-017, 624-441-018, 624-441-019, 624-441-020,
624-441-021, 624-441-022
EXHIBIT “G”
FORM OF NOTICE OF AFFORDABILITY RESTRICTIONS ON
TRANSFER OF PROPERTY
(Attached.)
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RECORDING REQUESTED BY, AND
WHEN RECORDED, MAIL TO:
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California 92260
Attn:
With a copy to:
The Coachella Valley Housing Coalition
45-701 Monroe Street, Suite G
Indio, CA 92201
Attn:
APN(s): 624-440-032, 624-440-034, 624-
440-035, 624-440-036, 624-441-014, 624-
441-015, 624-441-016, 624-441-017, 624-
441-018, 624-441-019, 624-441-020, 624-
441-021, 624-441-022
(Space Above this Line For Recorder’s Use)
Free Recording Requested Pursuant To Government Code Section 27383
NOTICE OF AFFORDABILITY RESTRICTIONS ON
TRANSFER OF PROPERTY
IMPORTANT NOTICE TO OWNERS, PURCHASERS, LENDERS, BROKERS,
ESCROW AND TITLE COMPANIES, AND OTHER PERSONS, REGARDING
AFFORDABLE HOUSING RESTRICTIONS ON THE REAL PROPERTY DESCRIBED IN
THIS NOTICE:
Restrictions are concurrently being recorded with respect to the property described below
(referred to in this Notice as the “Property”) which restrict the price and terms on which the
Property may be sold. These restrictions may limit the sales price of the Property to an amount
which is less than the fair market value of the Property. These restrictions limit the income of
persons and households who are permitted to purchase the Property pursuant to California Health
and Safety Code Section 33334.3(f)(1).
This NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF
PROPERTY (the “Notice”), is made this day of , 2020, by the City of Palm
Desert, a California municipal corporation (“City”), whose address is 73 -510 Fred Waring Drive,
Palm Desert, CA and THE COACHELLA VALLEY HOUSING COALITION, a California non-
profit, public benefit corporation (“Owner”) whose address is 45 -701 Monroe Street, Suite G,
Indio, CA 92201, in connection with that certain Affordable Housing Restriction Agreement
(“Restrictive Agreement”) between Owner and the City.
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RECITALS
A. Owner is the owner of that certain real property described in Exhibit A, in the City
of Palm Desert, State of California bearing Assessor’s Parcel Number(s) 624 -441-014 through
022, and 624-440-032 through 036 (collectively, the “Property”).
B. Owner is constructing (or is causing to be constructed) fourteen (14) residential
dwelling units on the Property as a self-help project.
C. Owner and City have entered into the Restrictive Agreement which is being
recorded substantially concurrently herewith in the official records of the County Recorder of
Riverside County (“County Recorder”).
D. Capitalized terms used herein but not defined shall have the meanings set forth as
described in the Restrictive Agreement.
TERMS OF NOTICE
1. Requirement for Recorded Notice. This Notice is being executed and recorded
pursuant to California Health and Safety Code Section 33334.3(f)(3)(B).
2. Agreement . This Notice is being recorded in the official records of the County
Recorder substantially concurrently with the recordation of the Restrictive Agreement, which is
incorporated herein by reference.
3. Recitation of Affordability Restrictions. Subject to the terms and conditions
thereof, the Restrictive Agreement, restricts the occupancy of the Property to occupancy by a
Qualified Household, being a Person, Family or Household of Low or Very Low Income that is a
First -Time Homebuyer, at an Affordable Housing Cost (as such terms are defined in the Restr ictive
Agreement) as the sole and principal residence of the Owner (and subsequent owners) for a term
which is the longer of 45 years from the recording of this document, or the date on which the
Property is first sold to a Qualified Household.
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IN WITNESS WHEREOF, this Notice has been executed as of the day and year first above
written.
CITY: CITY OF PALM DESERT,
a California municipal corporation
By:
Name:
Title:
OWNER: THE COACHELLA VALLEY HOUSING
COALITION,
a California non-profit public benefit corporation
By:
Julie Bornstein,
Executive Director
By:
Pedro S.G. Rodriguez,
Chief Financial Officer
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrume nt.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrume nt.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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EXHIBIT “A”
That certain real Property situated in the City of Palm Desert, County of Riverside, State of
California, described as follows:
LOTS 95 THROUGH 108 OF TRACT 30795, AS PER MAP FILED IN BOOK 406, PAGES 73
THROUGH 80 OF PARCEL MAPS, ALL IN THE OFFICE OF THE COUNTY RECORDER
OF SAID COUNTY OF RIVERSIDE.
ASSESSOR PARCEL NUMBERS 624-440-032, 624-440-034, 624-440-035, 624-440-036, 624-
441-014, 624-441-015, 624-441-016, 624-441-017, 624-441-018, 624-441-019, 624-441-020,
624-441-021, 624-441-022
EXHIBIT “H”
PROPERTY DOCUMENTS (SELLER DISCLOSURES)
[NEED]
EXHIBIT “I”
FORM OF CERTIFICATE OF COMPLETION
(Attached.)
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RECORDING REQUESTED BY:
AND WHEN RECORDED RETURN TO:
City of Palm Desert
73-510 Fred Waring Drive
Palm Desert, California 92260
Attn:
With a copy to:
The Coachella Valley Housing Coalition
45-701 Monroe Street, Suite G
Indio, CA 92201
At tn:
(Space Above This Line For Recorder’s Use)
The undersigned declares that this Certificate of Completion is exempt from Recording Fees
pursuant to California Government Code Section 27383.
CERTIFICATE OF COMPLETION
This Certificate of Completion is dated ______, 20__, with reference to the following
matters:
A. The CITY OF PALM DESERT, a California municipal corporation (the “City”)
and THE COACHELLA VALLEY HOUSING COALITION, a California non-profit public
benefit corporation (the “Developer”) entered into a certain Disposition and Development
Agreement dated as of , 2020 (the “Agreement”), which Agreement provides, in
Section 3.10 thereof, that the City shall furnish the Developer with a Certificate of Completion
upon satisfactory completion of its obligations with respect to the entitlement of the real propert y
described in Exhibit “A” attached hereto and incorporated herein by this reference (the
“Property”), which certificate shall be in such form as to permit it to be recorded in the Recorder’s
Office of Riverside County; and
B. The Certificate of Completion shall be conclusive determination of satisfactory
completion of the entitlement of the Property by the Developer; and
C. The City has determined that the obligations of the Developer with respect to the
Property have been satisfactorily performed; and
NOW, THEREFORE, the party to this instrument hereby provides as follows:
1. As provided in the Agreement, the City does hereby certify that the obligations of
the Developer with respect to the Property have been satisfactorily performed and completed as
required by the Agreement.
2. This Certificate shall not constitute evidence of compliance with or satisfaction of
any obligation of the Developer to any holder of a mortgage, or deed of trust or any insurer of a
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mortgage, or deed of trust securing money loaned to finance the Developer’s acquisition of the
Property from the City pursuant to the Agreement, nor does it constitute evidence of payment of
any promissory note or performance of any deed of trust provided by the Developer to the City
under the Agreement or otherwise.
IN WITNESS WHEREOF, the City has entered into this Certificate of Completion as of
the day and year first above written.
CITY OF PALM DESERT,
a California municipal corporation
By:
Name:
Title:
ATTEST:
, City Clerk
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me, ________________________________________ Notary
Public, personally appeared ________________________________________, who proved
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed
to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity, and that by his/her/their signature(s) on the instrument the
person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrume nt.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Place Notary Seal Above
Signature of Notary Public
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EXHIBIT “A”
LEGAL DESCRIPTION OF THE PROPERTY
That certain real property situated in the City of Palm Desert, County of Riverside, State of
California, described as follows:
LOTS 95 THROUGH 108 OF TRACT 30795, AS PER MAP FILED IN BOOK 406, PAGES 73
THROUGH 80 OF PARCEL MAPS, ALL IN THE OFFICE OF THE COUNTY RECORDER
OF SAID COUNTY OF RIVERSIDE.
ASSESSOR PARCEL NUMBERS 624-440-032, 624-440-034, 624-440-035, 624-440-036, 624-
441-014, 624-441-015, 624-441-016, 624-441-017, 624-441-018, 624-441-019, 624-441-020,
624-441-021, 624-441-022
ARTICLE 1. DEFINITIONS
1.1 Definitions
ARTICLE 2. CONVEYANCE OF THE PROPERTY TO DEVELOPER
2.1 Conveyance
2.2 Consideration
2.3 Escrow
2.4 Conditions to Close of Escrow
2.5 Condition of Title
2.6 Escrow and Title Charges
2.7 Due Diligence Period
2.8 Condition of the Property
2.9 Escrow Holder
ARTICLE 3
3.1 Schedule of Performance and Scope of Development
3.2 Cost of Construction
3.3 Further Development Matters
3.4 Progress of Construction
3.5 Rights of Access
3.6 Local, State and Federal Laws
3.7 Nondiscrimination During Construction
3.8 Zoning and Land Use Requirements
3.9 No Authority Created
3.10 Certificate of Completion
ARTICLE 4
4.1 Limitation As To Transfer of the Property and Assignment
of Agreement
TABLE OF CONTENTS (cont.)
Page
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4.2 Rights of Holders
4.3 Noninterference wit h Holders
ARTICLE 5
5.1 Use of Property
5.2 Use and Operation Covenants
5.3 Sale of Property
5.4 Maintenance of the Property
5.5 Effect and Duration of Covenants
5.6 Obligation to Refrain from Discrimination
5.7 Form of Nondiscrimination and Nonsegregat ion Clauses
ARTICLE 6
6.1 Developer Events of Defaults
6.2 Remedies in the Event of Default
6.3 Liberal Construction
6.4 No Personal Liability
6.5 Rights and Remedies are Cumulative
6.6 Inaction Not a Waiver of Default
6.7 Force Majeure
ARTICLE 7. INSURANCE
7.1 Insurance
7.2 Indemnity
ARTICLE 8
8.1 Notices
8.2 Developer’s Warranties
TABLE OF CONTENTS (cont.)
Page
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8.3 Interpretation
8.4 Time of the Essence
8.5 Attorneys’ Fees
8.6 Approvals by the City and the Developer
8.7 Entire Agreement, Waivers and Amendments
8.8 Counterparts
8.9 Severability
8.10 Survival
8.11 No Third Party Beneficiaries other than the City
8.12 Governing Law
�.;..
0�
¢ °
Caachella VaIIsV 45-701 Mon:oa 3ereei, Su�te G. Indio, CA 9220L
Hausirg Coafitiol � �
.JI@'PSOtfitlt 2 .Y FVRiz './.,2��' - ,x . .. _. ... .. . .... . . . ... . .. ..
March 12, 2019
RE: Self-Help Affordable Housing Development RFP Contract No. C36510
Follow-Up to February 07, 2D19 Meeting
As requested, please accept the following acknowledgements and additional
information from the Coachella Valley Housing Coalition (CVHC):
1) CVHC hereby acknowledges and understands the above project shall be
developed and constructed to meet the City's architectural design and planning
standards/requirements as well as Section IV of the RFP, and the City has final
approval of the development and construction plans.
2) Included in this response (Attachme�t "A") is a summary identifying the 50 self-help
units CVHC has produced in the last 5 years.
3) The proposed sales price for each house, by size is:
i) 3-bedroom; 1,275 square feet; $195,000-$198,000�
ii) 4-bedroom; 1,374 square feet; $197,000-$201,000�
� +/- based on bid finalrzation
4) CVHC proposes to partner with 1�� Bank for a mortgage product similar to the
USDA-RD Seciion 502 Si�gle Family Direct loan program; these will be 30-year
loans at then-current market rate interest. There are no additional funding
mechanisms currently dedicated to this project, with the exception of possible
deferred down payment assistance loa�s and/or housing mitigation funds through
the City of Palm Desert.
5) CVHC hereby acknowledyes and understands the proposed homes will be
constructed and sold according to the required household income restrictions as
out lined in the Request for Proposais.
6) Included in this response (Attachment "B") is a proposed development schedule for
the project (from acquisition to sale of the homes).
Offl.eJ60-347-31F7 = Fax:?60-3Y2-6466 �
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www.whaarg
Nerg66ae%lorlr
I SUBDIVISION I
' OEVELOPMENTNAME
'Momingside Group t
ITierra Bonita Ph 2, Group 74
ITie«a Bonita Ph 2, Gro�p 75
ITierra Bonita Ph 2, Group 76
LOCATION
Morningside Court
l�iR7FY]C]IC]�
City of Imperial
AVG SALES COMPLETE
PRICE (a-Bd)
$195,000 10-May-18
Calle Bemardo, Diego & �candro City of Coachelia $205,000 17-May-18
Calle Bemardq �eandro & Gregorio Ciry of Coachella $205,000 29-Aug-18
Calle Leandro
City of Coachella $205,000 17-0ec-18
# of
HOMES
�1
13 I
13 I
13 I
SD
34ft'
t, 4ry
�e
o &
CoaChBUa V211ey 45-701 Monroe Street, Surte G, [ndto, CA 92201
Hou'ing C,oaiit[on � , . . , �
K.I.WOv"91AU�.Y�:IIY.EY4G2 � '.,...� "�j' �...: • i ,.a... .� _.��
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March 06, 2019
RE: Self-Help Affordable Housing Development RFP Contract FIo. C36510
Follow-Up to February 07, 2019 IVleeting
Attachment
«�„
PRELIiVI1NARY DEVELOPMENT SCHEDULE - 14 LOTS - PALiV! DESERT SELF HELP
Mo Mo Mo � Mo I Mo Mo Mo Mo Mo Mo Mo Mo Mo Mo Mo Mo Mo Mo Mo Mo Mo
1 2 3 � 4 i 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
0
Award of contract � N�I
Loan Packaging ��: 9„�tl;
House Plan Review with the City 1;'
Precise Grading Plans 'I
_
Building Permits
Construction
Certificates of Occupancy
___ i
II �
__ �I
I 1
1_`',� 3'„;4 `3'::6 I 7,":g ` -0 ''I'i=,�2`:;
,.�._
0{fl�eilti0-349-3167-Fas�760-242-6466�
C(�ACHF.LL:A VALLEY HOUSiNG COAL�'I"jC)N
�5-74I ��onroe Strett, Suite G Izldic�, �':1 9?2C11
Oetober 23, ?U ] R
�
1 •• �• ,
C:(�n['11f�I I A VA1.1 G1'
Hnli51+YC C(�A1_I'1'lON
Jr.if-J�u� [.��.�nnnvrin� Snr�i' ! J+i_'
Of �( 760} 347-3 t 57 t�ax { 7b0 ) 342-b466
C'itv i�i�P�lttt D�s�rt
Attn: Jessica Gonzales, Senior '11�na�ement .anal�•st
73-� ] 0 Fred Waring f�ri���
I'alcn Des�rt. CA 92?60
RC: Self-Help AffordaLile Hou�ir�g lle��elc�pment KC'1'
Contr�ict No. C3G�10
Dear I���s. Goiizal�s.
`[�he Coach�lla Valtev Ho��sing Cc�aiition (CVHC) than�:s the Cit�� ��I� l'alnl Desert iCit� 1 tor the
e�pa�o��tu��ity to j�resent otir Propc�sal for tl�e Self-Hel� .�lttorcfat�le Hot�siii� I)��v�lc��inent uiider t'c�itirz�ci
Nc3. C'3C,510.
CVHC, a CA pt��lic k�eneiit non-pro�t corporatic�n 501(c)(3) forrnea on 1�'Iarch 8, 19S`�. has
developed ?.Q11 affordaf�[z sEngle-famil}� homes for Zow and verv-lo�� inrc�me families and individuals
w�tllin Riverside and imperial Courtttes to daEz. ;'�s suckl, CV�-IC is uraiyuely situated tc� st�ccessfullti�
develop, market/r�cr�iit, and constrt�ct t}�e Cit��'s propnsed }�roject of fourteer} a�'fordable sin�le-family
�letached hom�s oi' 3 to =i bedrooms of' a�prt�ximately 1,22[} to 1,400 sqttare l��t fc�r low and ��erv-lo���
income tirst-tim� homebu��ers.
CVHC understa�lds tlte project ��bj�cti� e, scope, �ind conditians ��i� ��e��clopme�lt as c�utiin�d
witllin tl�e Rec�uest tc�r Pc•oposals (RFE') issued 4ctoE�er 11`h. ?018.
CVHC wishes to raise a�}�ietiiion, ho��•ever, related to RFP Sertic�:� [! [— Desci-ii3tiuE� c}f ihe
Develc�pment, which requests passible utilizat�on nf one ot' the fot���t�e�l i���«les u�lder th� C'oaehe�la
Vafle�� Hot►sis1� First {or sinlilar) pr�gra�z�. ���e ��fie��e the natuxe at� the Self-EIelp n�odel prevents
GVHC from fiilfillin� t}tis rec�uest. For one o� ttie l�«�z�es to operate tir��er a CV H�using l�irst or
similar proa�•aTn �voi�ld rec�uire 1) a se}�arate entit�• to �urehase the lot; ?} zc�nstrltction �t� the hame
utilizing eotitracic�r(s), and; 3j engagi�lg a company tc� ntana�,e the pr�perty t�nc! ar�� r�lateci pt�c,�,�ra����.
Nune of'these eleei�ents are supp�rted und�r the Self=Hel�� modei.
CVHC is a�vare and campliai�t «itn ti�e requireEi�ents c.,f Calit��rnia l.��bor Code Sections 17?C�
et .eq., i 770 et seq., and California �'��d� of Regulati��n�, �I'it[e S. Section 16(}()0 et seq. {''Pre��ailin�T
Wa�e Lav��s''l. We helie��e the prapc}sed Sel�-Help }�r�?jcct and CVHC ar� i�ot subjeet to Prevailing
Pa�e I nf ?
�
� ' �,�• 1
CC�.act� �t_t .a V,��.t rt
rioc!srKc cc�n�.l�rtc,ry
co�cH�:�La �A�_�.�.Y ��c��rs��rG co�Ll�-�oN H�<<�,��,,:;t;�.,:..�,��,:,�;,.r, ��,.
45-701 Munt-oe Street. Suite G I���iio. CA 92?O1 Of`c (760) 347-31�7 Fax (7fQ) 34''-G4(�f,
1��a��e I_aw•s as e��id���ced �indzr C:� Ct�de ot� Regulations. Title 8, Section i 6U[)(�, Chapter 8,
S�ibchapter 3, Article 2, �16001 (a), and CA [,abor Code, Divisiu�l ?, I'<�irt 7, Char.�tcx l. :a.rticle l, �
172« (c}q;1f!�l•
��'e are enl��+�sed b�• th� prc�spect of returning to the City of Palm Desert to construct additional
afforciahle singl�-family detaclled homes f'or low and ��ery-luw inco�n� faMnilies and i��dividuals ar�c�
lool� ti�rwa�'d to y�our }�asitive F•esponse to CV�--iC's propasal.
Sincercly.
���.��
.�u ie �3ornst�ir�
,�ecttii��e I7iri:ctor
(760) ��7-�157
� Julie.Bornstein� evhc.ora
Enclos�ires
Cc: file
Pa�e 2 of 2
TABLE OF CONTENTS
s= ,
� --
Section A Introduction
Section B Developer Experience
Section C Project Proposal and Business Terms
Section D Required Documentatzon
E�-iibzt A Project Map, Color Palette, and Plans
Exhibit B Respondents Qualificatxon Disclosure Statement
E�ibzt C Proposal Certification
Exhzbzt D Non-Collusive Affzdavit
Exhzbit E Respondent's Qualification References
E�zbzt F Project Information
Attachment 1 Certifzcate of Insurance
Attachment 2 Financial Institution Reference
Attachmeni 3 Proposal and Addendum Acknowledgment
Attachment 4 Content Certification
Attachment 5 Prelzmxnary Budget
Attachment 6 Audxted Financxal Statement
s/ ' �
� ,
COAC1-IELLA VALLEY HUUSING C'OALITIC�N
�5-70 � Manroe Str•eet, Suite G(ndia, CA 9��'O 1
S�CTION A: 1NTRODC CT�Oti
�
1 f • • • '
COnCHC[.LA VAL1iY
F{��IISE*iC; C(�Rl l'[ 1�3N
kr�rld�u,y f S+rnrririnelr.�run: !'J�y�'
Ot�c (760) 347-3157 Fax (7C(i) 34?-6=�G6
1. "I he Coacf�ella Vafl�y Housing Ccaaiiti�n (CV�iC), a CaIito�-��ia public h�nefit nc�n-�rc>tii
cc�r�oration (5{)1( c 1�). ��'as #urmed an March 8, 198?, and in 1987 esta�[ished its Sin�le Far��il}�
Mt�ttia] Se1f-Hel� Pro��ram. 'I�he pri��ar�;� p�i�lt af c�ntact far ttiis �ropo5al andlc,r contract is:
l�,milia Mojica, 5in��e Familv Devefopment Dir�;etor
Coaet�ella Valle4� HoUsing Coalitiosl
��-i01 �1�onroe St., Sle. G, Indio CA 92?Ol
R 7b0) 347- � i a7 e�t. � l I
To date, CVI IC's Self Help Pro�rar�� tzas deveic�peci ?.(11 j at'ti>rc�able single-Iami1S hames tor
lo��;� and vert-lo�� income tamilies arf� indi��iduals «-itl��n RiverSide and Imperial Cc���nties.
CVHC h�reh�' aclttlo���led�.es its underst�ndin� c�f the propnsed ��roject tn be the de�-�i��l�ment
�tiiid c<mstrtictio�i of fot�rteei� (14) aifordable sin�le-family detach�d hom�s ol' 3 ta 4 bedj�oan�s
of approzimat�l�� l.2?0 to 1.400 square fect tf�at will be �z�adz avail�iL?le to [irst-time
I���st�eb�vers o#�le��u anc� 4'ery lo«' inconz�.
2. 'I�ea�i1 iVleinbers to be assi�necl tu this prc�j�c� «riEl ineluc�e:
TitlelPositic,n: Executivz Directar
Namc: ,i�ili� Barnstein
Date �ired (rz3ozltli/year): A�ril 2016 1'ears c�i�e��crience: 20
�:xperience: Kcy project �Eecisic�n maker; S U+ y�ars' experience wiih
C'VHC in •arious capaciti�s incEudit�� prior �oard inemher; t�as 13oard authority to �nake
ie�ally bir�din� cc�mnlitn�ents ��n �el7alf uf CVHC. �'arnlzr Dir�,ctor c�f the �tate o�Califoniia's
13t��ising and Communit� De���;lopme�lt.
Title/Position: Chicl�Financial C)fticer
Na�z�e: 3'c�irc� S.G. Rc�driguez
Iaate hired (�T�«�lt}li�-�3r}: ,ft�fy I99� Y'ea�•s of experience: ?3
F.xperiencc: Primary xinancial decision making; inte��ral part c�i� projeet
bud�;et dtvelo�mlent and nu7nitorin�; has Board �uth�rity to r�t�yke le�aily hinding commitments
c}n b-ehali «f C'�rHC.
�1��tlelPosition:
Name:
�)atc; hired {n���ntfU'year):
Ne�gh6arW r�CsR
CHARiEREP MEMBER
5i�i�ie I�amily D�ve[opme.nt Director
Fit�iliz� Moj�ca
S�ptemb�r 1�)89 Years of expet-iencL: ��t
«���•r►�,c�•hc.org
coac�LLA vALLEY Hous�v� co�.zT1oN
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ec�acriFr.i •e vai.L�:e�
Ho[rs[r�c r:r�,u �ri�N
(f���lr.�irrb {:r+r�nn�rer!11'.lrurr l�.h"
�5-701 Monroe 5treet, S�iite G I�idio, C:'19??Dl Ofc (76U) 347-3157 Fax (764) 342-6�66
E�perience: Oversees CVHC's Housing Cou�iseling Dept. and
outi•each efforts: responsibl� far mana�in� the Laan Packaging Dept.; Oversi�ht ot� Single
Fa��lily Construction Dept.
Tit[e/Position: Constr��ction Manager
Name: Slatvomir Rutko��-ski
Date hirec� (monthlyear): 3aniiary ?OU ! Years of experiencz: 17
E�perience: O�°ersees pro�ect site activities; supervises cot�strt�etioii
staff assigned to mtrtt�al self-help projects iz�cludiny quaIity �ontcol and timeliness; project
budget development; written cost estimates; cost control; materi�! purcfiases.
Title/Positian: Pr��ram Spectalist
Name: Sheila 11�cGrath
DaEe h�red (manth/year): May 201 � Years c�f e�cperie�lce: 3
Experiei�ce: Responsible for z�Ese�'c�iiii� and sect�ri�i� fiinding for
CVHC's Sin�le FaEni�y Mutual Seif Help pra��i'am, inc[uc�ing �rant writitig; fundin�
app[icatiQns; dra�7 req�le�ts; stat��tary reporting; contract compliat�c.e; fi�ncling recot3ciliation.
3. CVHC's Developer Designee, �vho is ��ual�fied iYi scope of work development and shaIl be the
lead team member responsible for the development af the Project sl�all be:
Cmilia Mojica. Single Familv Development Direct�r
�milia.Moiica{lcvhc.or� S 76Q} 347-3157 ext. 3] 1
4. Staff who has Baard auihorin- to n�ake [egally binding comir�itmetits on behalfof CVHC and
wha will execute ciocun�ents tor C�� HC with the Cily a�� Pa9m Iaesert are:
.f ulie Bori�stein. Executive Director
Julie.Bornsteinna,cvhc.or� (760} 3-�7-31 �7 e�t. ?04
rrrr�l/or
Peclro S.G. Rodrig�iez, Chief Financial Oiticer
Pedro.Rodri�uez cr.cvhe.or� (760} 3�7-31 �7 ext. ?a 1
5. Tliere �•e no CVHC �oint v�ntures ur other entities assaciated with this propos�d P�•nject.
Neigh�o arks•
CHARYERED MEMBER
������v.cvhc.or�
ClTY �F PALM D�SERT
REQUES� FOR PROPOSALS
for
Self-Hefp Affordable Housing Deveiopment
Far Income Restricted Praperties
Contract No. C36510
S1:CTION B: DEI�ELOPER E�'PERIEtiCk�
1. Reference P��ojects
'I'he Morningside Self-Hel� project, located in the Cit1� a�1d County of rmperial, Califarnia,
will cansist of 48 affordab�t single Iami[y detached homes 6uilt in fc7�ir pllases. On May 10,
2�18 ele�en ol ihose families took occ�pancy of thei�• con�p�eted �lon�es, The reinainir�g
phases are scheduled to complete constrt�ction on or before July 2019.
Constructior�/martga�e financing was provi��ed by the United States Departr��etit of
Agriculture (USDA) through their 502 Pro��ram and l�amebuyer/builder [�a�as avera�ed at
$ f 69,7Ufl. Subsiclies a�eraged $18, I90 per liom�, oi' which 3C% were for very low incor�e
and 64% were for low income fa�i�ilies. Subsidy funding for this group was �rovEded by the
Housin� Assistance Cotincil (HAC) Farnlworker Housin� Grant and/or California
D�partment of Ha�sing and Community nevelc�pment (HCD) CalHome fiinds.
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Nie ghborW rkss
CHARTERED MEM9ER
C1TY OF PALM D�SERT
REQUEST FOR PROPOSALS
for
Self-Help Affordable Housing DeveiopmeRt
Far Income Restricted Properties
Contract No. C36510
'�'l�e Tierra Bonita Phase II Self-He1p }�rc�Jzct, located in the City of Caachella, Count�� of
RiverSide, CaEifornia, cansists o#� 39 aitoraable sing�e fam�ly detaclled homes �uilt in three
phases. As of August 29, 2018, t��-entv-six of those iamilies liave taken occupancy of their
completed �iomes. The r�mainii�g families are schedt�led to complete construction in
December 2018. Consiruc�ion/mortgage tinancit�g was provided by the United States
Department of A�ricuEture (USDA), Rural Developnleszi tlu-ough their 502 P�'ogram and
homebuyer/bui�der loan arr�QtEnts averaRed at � 1�0,400. Subsidies averaged $� 1,909 per
home, of which �6% were far very lo��� income anc� 54% were foi- lov�� income families.
Subsidy funding for these families «�ere pro��ideci by the Housinb Authority of the Countv of
Riverside, Ca[ifarnia Department of Housing ar�d Community Developme�it (HCD}
Ca[Home and Farn�worker Housing Grant Prograrn.
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Coachella Valley
licusing Coalition
eighborW rksa
CHARTERE� IYlEh46ER
CITY OF PALM DESERT
REQUEST FOR PROPOSALS
for
Self-Hefp Affardable Housing De�elopment
For Income Restricted Prope�ties
Contract No. C36510
CVHC, through its Mutual Self-Help Prograrn, has assisted 2,000 low and very low-income
families obtain homeownership. CVHC plays a develo�er role fram Acquisition and Pre-
development througI� Marketing and Recruiting, and subsequently guicies, educates and
assists the homebuyerlbuilders as they navigate the various Creciit and Financial Counseling,
Application and Close of Escrow processes. Once escrow has closed (the fot is then owned
by the owner/buiider), CVHC staff canstruction supervisars provide technical assistance and
oversight to the famiIies in constructing each other's homes. CVHC also obtains all bids for
laborlmaterials, pays invoices and abtains lien releases.
3. Since its in.ception, the CVHC Mutual Self-Help Program has enjoyed tremendous success in
its marketing and outreach efforts, as evidenced by the 20,040 � currently on CVHC's
applicant wait list, including 1,003 who prefer the City of Palm Desert. CVHC cantinuously
markets its various programs, with targeted outreach impleznented as land, entitlements and
funding becomes available ta develop a specific project. Outreacl� typically includes
newspaper and radio advertisements, social media, cammunity meetings, distribution of
flyers to tenants, and open houses.
�
4. The agencies that have partnered with CVHC in the past five {5} years incIude:
United States Department of Agriculture, Rural Develapment
Attn: Ron Tackett, Single Family Housing Program Director
430 S Street, Agency 4169
Davis, CA 95616-4169
(530) 792-58 � b
Projects have included Tierra Bonita Ph. I, Groups 70-73, City of Coachella, 45 total units;
Tierra Bonita Ph. II, Groups 74-76, City of Coachella, 39 total units; Morningside, Groups 1-
4, City of Imperial, 48 total units; Sunset Springs, Graups 9-12, City of Desert Hot Springs,
32 total units; North Shore, Groups 5-6, North Share {unincorporated area), 11 total units.
County of Riverside, Housing Division
Attn: Micha�l F. Walsh, Deputy Director
5555 Arlington Avenue
Riverside, CA 92504
(951) 343-5469
Page 3 of 4
i!/�I�
� �••• �
Goachelia Valley
Housing Coalition
N �e ghbor orks-
CNARTERHD MEMBfR
CiTY OF PALM DES�RT
REQUEST FOR PROPOSAL5
for
Self-Help Affordabfe Housing Development
For Income Restricted Properties
Contract IVo. C365'i0
Proj�cts have included Tierra Bofiita Ph. fI, Gratf��s 7�-7b, City of C��acllella. a9 tatal un3ts;
Suns�t SpriE��s, Grc�i�ps 9-11. City� of Des�rt Hut Sp�•ings, �� tOI71 L11Z1i5; North Shore, Graiips
S-f. Nortll S]Iaee (t��linco�porated areal. 1] total units.
5. Explain the intended roie c�t��ach d�velo�meiit eniit}� or partn�r a��d the t•esponsible party af
�ach entitv.
Coachella Val�ev Hotisin� Coalitio�7
CVHC', i�� a�varded as a roiitraciee under Contract No. C36510 �vill b�: the Developer a� ille
project, to incl�ide pre-de��e�opn�ent activities; marketing an�! recruitment; homebuyer/
b�iilder fiE�ancia! ed�ication and loan application services, and; coi�tract oversiglit and
supervisio�i, fi��ancial controls for loan proeeeds distributian.
Sin�i� Family Devefope��ent Directar Errii3ia Mojica will serve as CVHC's responsible Part�-
to ensure al] project activities comply with the terms as d�lined by ihe RFP as well as at�v%all
terms as c�efined via sitbsec�uent negotiatiot� activities at�d resulting agreements.
Citv o�Palm Des�rt
The City of� Palm Des�rt, in its capacitv as t}Ze Canti•acting Entiry via this RFP wvill proride
cc�ntr�ct and pr�ject oversight acid compliance.
Setiior Managetnent Analvst .Tessica Gonzaies will serve as the City's responsit�le party to
ensure all proj�ct activities comply t��iih the terms as detined by the RFP as well as any/all
te�•ms as elei-ined via sul�sec�uent ne�otiat�aii activities and resu3tin� agreements.
5. Qualifieatians of c��titractors or subcontractc�rs if lcnow�n. Please sumn�arize th�ir experience
��d capa�ilities.
An archit�ct and stibco�itractor entities lsave nat y�et be�n identified f�or this pi-o�ect, and
subsequentiy their qt�aliticatio��s. expet-ience anci capabilities are l��iknowi� at this time.
Page 4 of 4
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�. _;�r�;1�._.�li,� ��
Nghbor orlcs�
CHARTEREO MEMBER
C!1'Y OF PA�M D�S�RT
REQUEST FOR �ROPOSALS
fior
Se1f-Heip Affordable Nousing Development
For Incom� f�estricted Praperti�s
Contract f�a. C36510
SECTION C: PROJECT PROPOSAL :�NI) BUSIN�S� TI?ItMS
Description af the proposec� project in tiarrative and �rapiiic formaE - Show a sample of tlz�
tvpe of affordaE�le housing develapment being propos�d wl�ich includes, at minimum the
criteria established in 5ectiun I��', �n ai•c}litectural concept, materials, equiprnent.
lajldscapin�, and a propc�secl color palette.
Piease see Exhibit .A
2. A compreherisive brealc dovvn of al� costs associated �vith ik�e pro��ased praject can be found
in �lrtachment 5.
3. F�indin� s��urces for the Self-He�p Afi�c�rdahle Ho�ising Development �s ten�atively pi•oposed
by:
The Coachella Valle�� Housing Coalitian
45-701 Monroe St., Ste, G, Indio CA 9?2fl 1
FirstBank
73-000 Hi�hway 1 1 1, Pa1n1 Desert, CA 92260
Bank of Aznerica
81-$�0 Higll�vay I1 l. Ir�t-�io C:� 9??O1
4, Developer's tinai�cial c�pacit�� to it�lplement the project.
Alease see Attachment G
5. identify al� partners tincluding financial) iar the praposed praject.
The Coachella Valley Hausing Coalitiorl
45-7D1 Monroe St.. Ste. G. Indio CA 9?�O1
PirstBanl:
7�-U00 Hi�llway 1 11. Palm Desert, CA 92?6U
Bank of America
81-800 Highway 71 ], indio CA 922Q 1
D�velopment �artners i�lcEtrdit�g architect and electricians are to be determined.
Page T at 2
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� _ ����._���,�:..
N�igh6orW rks�
CNARTERE� MEMBER
CITY OF PALM DESERT
REQUESTFQRPROPOSALS
for
Seff-Fleip Affordable Housing Develo�mertt
For Income Restric#ed Properties
Contract No. C3�510
6. Id�:ntify �ievelapment schedt�l� ot the proposed pr�lect. Identify critical milestones s�icl� as
acquisition, design, construction, and marketinb �ncluding qualtfyin� homebuyers lo�• t��e
proposed financin�.
CVHC is Eina�le to fi�lly de�-elop the project sc�iedule prior ta awarcl. CVHC's sii�gle
�amily niutual self-[lelp projects ty�pically take 10-12 months to construct ��ilez all
predevelapme�lt and entitlement acti�ities have been conipleted.
7. Identrty autside firms such as genera] cont3�act�rs, subcontractors, or management tirms
prc�posed for this P�•oject.
None �t tl�is time.
8, Ic�entify proposed forms of'tii�a�lc�ng for ihe homebuyers, incltiding identi£yin� ihe use of�
any proposed financial institutions.
FirstBank; 1" mortga��
Palm Desert; liefi holc�er, first time honiebuyer subsidy as needed ��er tamily
9. Ii�dicate wl�ether tl�e Developer, or any of its principals, is or lias beEn involv�d in anv
litigalion nr otller dis�utes, an� in pa��ticular. ��ith any city, or l�o�isiiig �tith��rity. If so, please
explain (excl�iding ``slip and fal�s" ancl �mp[ayee issues}.
Ix� No�ern�i�r 1996 C��'�IC «•��s the Plaintiff in a ci�il c.ase a��i�lst the City of Mor�no
Valley in re�ard to an attordabl� rental project within the City. CVI-�C ca�itendecI that the
City of Moreiio Vali�y was not complyin�, with TitEe ?4 re�ulations. The case �vas
ultimatelv settled in Mai•c�� 2UU5.
10. The Coachella Vallev Housing Caalition, its principals. ar any iildiviciva[s or entities named
abo�e, ]lav� �1z�•er ��Eeial�lted on their tinancial obli�ations, rlor ha�re any �raj�cts or
deveiopinents b�ei� fareclosed upon ur deeded in [ieu of ioreclast�re, or tiled vankruptcy
d��rin� the Developer's stewardslii� of a praject.
] i. This propasai, includin� all e�hibits and attachments will remain valid for 1$0 calen�ar days
irom the date t11is proposal is sEzbnzitted. or Nove�ilUer l R, 2018.
12. Th� Coacilella Valley Hous�n� Coalitio�l. its pr�ncipals, ar any itzdividtials or entities naiued
aE�ove, have no con��icts in connection with the developmc:nt of t11is project and has nc�
eap�ctatioi� that said canflict ���ill arise in t]le tutlire.
Page 2 of 2
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�c�ac�,��ua �dane,
� {-��;�;:r�p_� �.';idlil__O�i
N� ghbarW rks•
CHAIt7�RED MEMBER
C1�Y �OF �ALM DES�RT
REQUES�FORPROPOSALS
for
Self-Help Affordab[e Housing De�eiopment
For �ncom� Rastricted Properties
Contract No. C36540
S�CTION D: REQLTiRED DOCU�TENTATION
1. Certificaie of Tnsurance; Attachr�i�nt 1
2. Fit�ancial Institutian Letter of Recommendation: Attaclualent 2
3. i'roposal �nd Addc:ndum Acknowledgement; Attachment 3
�. Content Certification; Attachment -�
Page 1 of 1
����
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�nz��-f,eii� vaii�y
`iGUSir�;� '�.08]itif:n
Nie ghborW rlcsa
CMARTERED MEMBER
CITY' C1F AAi.l1'f flES�RT
R�QUEST FOF� E'ROPOSAI.S
for
Self-Help Aft'�rdabEe Housing Deveiopment
For Snce���e Rest�icted Yroperties
Contract l��a. C3G`ai0
� Prt•oject Map
� Proposed Color Palette+
• Proposed House Pla�ls
Page 1 of 4
CXHIB�T "A"
�����
1��1
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�i:��,s�n� c�art����
N re gh�orW rks�
CFIAR7ER£D MEMBER
EXHIBIT A
PROJECT MAP
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P ei •,� �� 15 r�tp of Palm Oesert RFP - Self-He�p Hvus�ng Deveiopment Marcr, 2016
c��-���- oF P.A�« nFSE��
ItEQUEtiT FOR PROPOSALti
for
Self-Help Af!'nrciable Hausing Developmenl
For ir3rurne Restrictec! 1'ro�erties
Cnntract No. C36�111
CQLORPALETTE
S�UCCO COL.OR
FACIA COLOR ROOF TILE
COLOR
Guiding Light W�athered
Adobe-5530
Wf�ole W�eat S�nrise
Blend-5E45
Chocolate Milk weathered
Adobe-5530
Whole Wh�at Su�rise
Blend-5645
Guiding Lignt Weathered
Adobe-5534
Whole Wheat Sunrise
Slend-5645
Chocotate M�Ik weathered
Adobe-5534
Whale Wheat Sunrise
B1e�d-5645
Guiding Ligi�t Weathered
Adobe-5530
Whole Wtteat Sunrise
Blend-5645
Chocofate Milk Weathered
Adobe-5530
INTERIOR
PAINT
COLOR
COTTAGE
WHITE
COTTAGE
WHITE
COTTAGE
WHf7E
COTTAGE
WHITE
COTTAG�
WHITE
COTTAGE
WHITE
COTTAGE
WHI�E
COTTAGE
WH17�
COTTAG�
WHITE
COTTAGE
WHITE
COTfAGE
WH17�
Misty
Alamo
Fa!lbrook
Alamo
Misty
Alamo
Fallbrook
Alamo
Misty
AEamo
Fa1li�rook
I�OTES:
ELEVATIONS DETERMINED BY CVHC
EX7�RIOR COLORS DETERMINED SY CVHC
EXTERIOR ROOF C�LOR DETERMINED BY CVHC
HOMES BUILT TO PLANS AND SPECIF�CATfOt�S NO CHA�fGES TO BE MADE
Page 1 of 1
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C1Tl' U�' PALi1�I �J�;��R'T
REQ[?EST FOR PRO�'OS.4LS
i�o�
Seif-Help Affordable Hausing De��efoprnent
Far [sicome Restricted Prope�-ties
Conlract 1l0. C365Z0
EXHI.BIT "�3"
ItESPONllENTS QUALIFIC�ITION llISCLOSURE STATEMENT
�ART I-RE5POIVDEVT (s) PROFILE I1'FORl�1ATlON
l. NAM� / .4DllRESS UF RESPO�I�IEiYT
Le�al Fr�titti� Name: Coac�eila Valley Hoi�sina Coalitiot�
Principal Address: -��-701 11�Ianroe Street Suite G, Indio, CA 9Z201
O#f�er Offiee Locations:
Main Telzphone:
Website:
None
(7b0) 347-31�7
�i�3��`�. c�� h c. o r�
2. �NTITY INFQRMATION
Federal Emplo���r ldenti�ication No.: y�-331�898
F_.�ltih T��pe: Non-Profit Corparation 5(11 (c)(3)
[s Responden� Stibn�itting as: 0�ntit�� ❑,Yoint Venture ❑Sub-Contractor
City of Y�ln1 Desert License: ��'ill Qbtain if awardecl
Calif�rnia Dept. of Rzal ��tate License: None
Otlier Licenses(s): �one
Date oi� Fot•matioii. Mar•ch Q8, i982
Nc�, af Years �n 8i�sisiess: 3b
List Asi� Relat4d Et�titv: None
3. PItiI�'CIPALS 1 PART:VERS 1 B�AR� OF DTRECTORS OF THT �'IRM:
Name of Principal i Board M�mber: �iuli��na S. Di�z
Address; ��-701 11rlonroe Street Suite (G, Inc��o, CA 9220] �
Positiar�: President °/vInterest 0%
�10. of Years ���Etll Entitv: 17
Name of Principal I Board IVlember. �-Iike Brabo �
Address: ��-701 Monroe Street Suife G, Indio, CA 92201
Position; Vice President '%inte�•est Q%
No. of Years with Enti��-: lU
Page 1 of 4
i��1�
1 �••• '
'oacnzil<: Vail�-
4 io�,i-�-+r�J C�.�:�tlt�ui �
N�ighbor orlcs�
CHARTEitED MEI4CBER
Cf'I�ti' (]F PAL,t'[ fIESERT
[tF:(1UEST FOR PROYOSAt.S
Ti�t�
Self-Hcfp Affordable Housing i)c�e[opnient
Fcrr 6ncame Reytricted Prc}�erties
Contract Na. C36S10
EXHIBIT "B"
a�.si�o�v��vTs qt�.��1�FrcaTio� ��sc�_ost;xr �T����H.�7E����
Naene of PrincipaI / E3narci N1�i�lher: Rirhard Levine
Address: 45-7(11 N[o�roe Sh�cet SiRitc G, India, CA 922111
Position: Trcaseirer %interest [}%,
N��. of Yzars �� it�i Entiri�; 6
Narz�e ot� Principa! ' Boarc� �lember: .fulie �3urnstei❑
:'ladress: -t�-7()1 ��lanroe Strect Suitc G, Indio, C'A 92201
Positic�ti: Secretary %[r�terest:0"/o
No. o# Years with Entit�•: ll) Ycars an the Board of 1)irectors
2 �'ears as E�ecutive Director
Nan�� of Principa! �' Board I1�lembet�: inez �i�ar•ez I
.�'�ddress: a�-7(11 M�nrae Strcet Suite G, Indio, CA 922f)1 I
Positior�: ��lenihcr °/nInferest:0`% I
No. of Ycars with E�ltity: i9
Nam� of Principai r Board Member: Svlvi� Nlontenegro I
,Adds-ess; ��-701 �Ionroe Street �uitc G, {ndio, CA 922f11
�'osition: '�icmher °/oInterest: (W/�
Na. of Years �vitl� Entitv: 19
Nan�e of�Principa! 1 Boar�i Mer�lber: Angcla Yuung
.Addr�ss: -��-701 �'Ionroe Street S�ifc C�, [ndio, CA 922(1�
Pc�sition: '�Iemher %Intrrest: U`%
No. ot Years ��itl� Eiltit��: 1�
,
Namt of Nrincipa� �' [3aard Memb�r: Jt�a�z l�I�noz
.Acld�-ess: �5-7f�1 Mt»�r-oe Strret �e,ite G, Indio, C.A tf22()1
�'osition: ilien�kicr °folnEerest: [1'%
N�. 02 Years with Entit}�: lU �
Name oF Pt�incipal ! Bc�ard �Vlemher: Scott Darrell
.Ac�dress: -t�-7i11 NTonrc�e 5treet StiittA C, Indio, ['.� 922(.11.
Positian: Member "/olnterest: U'%u
No. of Z'tar� «�itE7 �n[ity,: 2 '
Page 2 of a
.����
1 -�'
�oachell�s `.-.�,
�,,�,uair.g C�,�,�,��r� ,
NerghborW rksR
ChARTERED MEMBER
CIT�' �F PAL1'I pESERT
REQUEST EOR PRO['OSALS
i'o r
Self-Help Arfordal�le Housing F�c��elo�ment
For [ncome Rest�•icted C'roperties
Contract vo. C35510
EXH�BIT "B"
RESPONUE'�1T5 QUALIF[CATION DISCLOSLiRE STATEMENT
Nan�e of Principa[ / Board Member: St�:art Le<<ito�
r'lddress: -�5-70] A�Ionroe Stree# Si�irte CT4 indio, CA �2Z01
Position: �Tery�ber %Interesr.0`%a
No. of Yea��s ��itl� Entity: 1
Name of Principa! / Bo�rd Metnber: Michael Kiner
Address: �5-701 �'Ionroe 5trect S��ite G, indio, C:A 922[ll
Pasitio�i: Nlember '°/ainterest:0`%�
Na. of Years with Entit��: Less than 1 ycar
Name af PrincipaE / Board Menlber: �rt '�'aldez
Addres5; �t5-7Ql 1'lo�r•oe Street Suite G, Cndio, CA 122(}1
PoSitio�a: �lember %Interest: D%
No. of Years ���it}� Entitt : Less tf�an 1��ear
Nam� of�Priiaci�al 1 Board Member: Gordon Countryman
Address: -t�-701 Monrae Stree# Suite G, Indio, CA 92201
Positiotl: N�ember• %Ioterest:0%
No. of Z'ears with Ei�titv: Less than 1_year ,
a. NAME OF PER�ON{S) AUTHOIUZEll TO SIG1� ON [3EHALF O�' T��E FIR,'VI:
ar�tt /rir•
Page 3 of 4
Name: .J�iie Sornstein
Position: ��ecutive Director
Pri�7cipal .��ddress: -t�-701 Monroe St., Ste. G, IndiQ CA 92201
Einail Address: Jt�lie.Barnstein�a�4v�ie.or�
Tel�phone: (760) 3=�7-3157
Name: Pedro S.G. Roc�ri�uez
Positio3l: C�ief Financial Officer
Principal Address: ��-701 Monroe 5t., Ste. G, Indio CA 92201
EnZaii !li�dress: Pec1rU.Itod�'i�uez(�c�cvhc.org,
Telephone: (760) 3�17-3t57
���V�IV
' ��1
:_.oachella Vall>=v
4-{�iiisi77C rr�3lilinn
Neig�6orW rics�
CFIAR7EREp 164EhtBER
CIT'Y' ClF PALtiI llI:SFRT
�tE(��iL;ST ��()E2 PROPOSAI.S
fur
Self-Help Afi��r�fable Housing Urvelo�ment
Fnr [nccs:Tie Restricteci Properties
Cc�ntrac� �10. C365Ti1
EXHIBIT "B"
RESPO:�'DEtiTS QU�LIFICATi(}N D1SCL05URE S'FA'I'El�1i:NT
5. FI1tM CONTf�CT P�RSON, lF OTHC�t "FHA� SOARD OF DIRF,C'TORS:
G,
7.
[�Iair��: Emili� Mojica
Positioii: Sin�ie Familv De��eloprtaent Director
Fr�ncipaE Addrzss: �5-7(l1 Mc�nroe St., Ste. G, indio CA 422Q1
Email Ac�dress: }:niilf:�.l1!lajic���a c��hc.ar#;
T�lep}�o�ic: (7fi0) 3�7-31:�'7
N_�Mi: OF PCRSOv'fS} RESPONSI�3LF �"[)R DIRECT CnNT:�CT WITH THF.
Cl"1'�' f�\1) TF�aT «'1LL RESPOvn T(3 SER�'[CES REQtIIItE�) INCLI'll[NG
OVERSEEI]�G PERSON�TEL TH.'�T �S�ILL �y'ORK OV THE PR0.1�C'T:
�atn�: En�ilia ��o�ica — -
Aositian: �in�;le Famii�° De��ela�r�ent D�rector
Principal .��ddress: ��-7f11 �tilonrc>e St., Ste. G, indio CA 92201
Email Address: [;�r�ilia.11oiica(r"r?cvhc.or�
Tele�hc��1e: (7((�) �47-31�7
1�A11�E nF PERSON(S) RESPON�IBLE FOR DII2ECT CONTACT WI'TH THE
CITY THAT �VILL BE RESPO��[13L�: 'TO I2�SP�ND TO F[NANCIAL
[NQI�IRIES REQL'�IRED:
Namc: Pedro S.G. Roc�rigucz
Position: C��icf Financial Offirer
Principal Ad�iress: -€�-701 vlonroe St., Ste. G, Indio C:1 9??O1
Lmail Address: Peclru.Rudri�uez�a?r���c.or�
�elephune: (7fil)) 3�37-31 �7 _
�!��
' 7111'
� ��;�,.�,.3��� ��3�.:
i ir�, ic�rat l,cr,,,i��.,��,
Page 4 of 4
NghbarW rksa
CHARTEREP MEMBER
CITI' OF Pr1.LN1 DESERT
REQUE�T FOR PROPDSALS
_ t��r
Self-Help .affordab[e Housing Deve�opment
For Inc:��me Restrict�d Ps-operties
Contract No. C36510
EXHIBYT "C"
PROPOSAL C�RTJF�CATION
Respondent(s} c.ertifies that the fol�owiilg staternents ace true anel correct:
1. Tl�e unc�ers��ned l�as fuil atftl�ui-ity to bin�� the Develnper to tkie Proposal subinitted ic�
respoE�se ro t�ie City of' Pa[m Deser['s Request for Proposa[s fnr Self-I��elp Affordable Hausing
De��elopment.
2. The undersig�ied cer[ifies that the inlor��tation included in ar attached to t11e propc+sal is
true and cor�-ect ai�d u��til such time the City selects and unconditio�lally appeoves an Agreeinent,
the undersigned u ill rept�rt any changes in or additions to the inf'ormatioi� and fut7�ish tiirther
dac�mentation or infarmatio�� as rria�� t�e requested.
3. The tuldersi�ned agrees tu furnish and d�liv�r all services, items, and documents
represented in this proposal.
4. The undersigned �varrants that he/she has not �iveil, of#�ered to give, not' intends to give
aE any time herea�ter a��v �conon�ic opportunity. future em�loyment, gift, loan, gratuity, speeial
discnunt. trip, fa�or, or service to public s�rvant in connection �vith this proposal.
�. Tf�e undersiyned c�rtities tllat prop�sing Develope�, ar anyone actin� oi� b�hali� of
tirm. It��s nat violated antitrust laws of the State of Califomia, Federal antitrust [aws c�i'the L�nited
States oF America. or co4liided in any �•ay, directEy c�r indirectly. ��ith any comp�titor, partner.
otll�r p�opasin� tirm_ or individual, in the pre�aration of this pruposal or fees c�t�oted.
6. Tl�e Lindersigned achno��Eedges and accepts �Il terms arid conditions referenced in this
Request f�r Priiposals.
7. The ��r�dersi�ned certifies they, or their represented tirm, has not rece�ved
co�il�ensation foE• participation in the preparatian of the speci#ications for this Rec�u�st for
Proposals.
8. Tlse undersfgned certi�es tlzey, or their represented tirm, is not cun•ent�y U��d�:r
investigatiott for any harassmet�t, fair haUsing nr eqtia[ o��orkunity em�loyment violations, or
nll�ged via�ati��ns, by any state ar federal bodies, that has nat been f�illy disclosed including
cietails oi'tE�at investigat�on. in tt�is praposal.
i�� Vrlu
' •`,w 1
-::•:��:'��ila V;�IieY
-i�c �� c;�na Cqal�uon
Page 1 pf 3
CiTI' OF PALM DESERT
R�QLIEST FOR PROYOSAL�
for
Self Hel� �ifordable Hot�sing Develo�rnent
Fa�-lncome Resti•icted Praperties
Contract No. C3fiS10
EXH�SIT "C"
PROPOSAL CERTIFICATION
9. Tl�e «ndersioned a�r�es to e�ecute, or nzgotiate in good faith the executio�� of a
contract ior the provision of ser�ices represented in this praposal.
10. The unciersi���ed ack�lo��ledge� tE�c CiEy af Paler� Desei-t's right to r�ject a�1y, ai�d all,
proposals at its sole discretio�l.
(St'g��rllin�e.c to folln►ti� aft tlte trext p�rgeJ
Page 2 of 3
i���
1 ��'
�:�;ra�:i,c!Ir: valles
i�nu�:r�� C>.�aldiqn
CITl' OF P:1L�1 D� SI�;RT
REQC��ST FOR I?ROPOS_ALS
— for
Self-FIelp Affo�•dable Housing Developmeret
For Income Restricted Properties
Contract No. C3G_i10
EXHIS�T "C"
PROPOSAL CERTI�"ICATION
PROPOSAL CERTIFICATION (Co��lin�taed)
�� .
S�gn ure of' At�tl, orized Representative
Ju1ie Bornstein
Printed Nan1e of Authorized Representative
���. x3, �/S�
Date
Cxecutive Of�cer
Title
California nonprofit public bene�t eorporation �41(c)3
Printec� Firm Name L��al Status (Inc.. LLC, etc.}
ACKNOWL�DGEMENT
A�lotary public or other offic�r campleting €his certifi�cate verities only the identity of tl�e
indivtdual who signed the docu�r�e��t, to 4�-hich ihis certiticate is attached, and not the
trutllfulziess, accuracy, or validitv �1f that dacume�lt.
State of Cali%rnia )
} SS.
County of Riverside )
On �C.�'0��, 20 i'� before me, Fabiola `'alenzuela. a Notary Puhlic, persc3nall�
a��eared ,Tu�ie Bornsiein, �vho proved to me ots tl�e Liasis af satis�actory evidence to be tf�e
pe��sUt�a�'whose nam�,(:�1 is/�stibscribed to the ��ithin i��strument and acknowledged to me that
�avlshe/�,la�y executed the same in�i�ll�er�t�authorized capacity�(-'r�, ancl ihat by�/kter/tfa�•
signature(�' on the iizstru��ent tk�e persan�; or the e�itity ���on beha[f o1� which the person(��
acted, executed tf�e instr�E«lent.
I rertify tEnder PENALTY OF P�RJURY U��der the laws o# the State of California t}�at the
tore�oing paragrapli is tr�e and co��rect.
WiTNESS my hand and officia( se�il
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Si z� ture �
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F�48ralA VALEH2uEiA
. Mottry Public - C�Hlornia
z -r' Rlvfr�iE� Courtty i
� Commis�lan ,M 215923U '
� My Comm. ExD�rs: Aun 4, 2020 �
Seal
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� `;•,;s�:.0 �.:.�i�t��,�,
Neig�6or orksA
CHARTERE� MEMBER
CITY OF PALM DESERT
REQLiEST FOR PROPOSALS
i a:-
5e�f-Help Affarciable Housir�g Aevelopment
For [Euome Restricted E'raperties
Cantract No. C36�t0
EXHIB[T "D"
NQN-COLLL'SI�'E ,�FI'IDAVIT
State of California }
)ss.
County of Riverside 1
Julie Bornstcin
��e�ng tirst dul�• sworn, deposes and says:
Tllat slie is the E�ecuti��e Director of the Coacl�e[la Vallev Ho�:sin� Caalition, the pai-ty
ma�:ing the foregoin� proppsal or bid. tllat sucki proposal or bid is �en�ii�le and nat collusive or
sham; that said bidder l�as not colluded, conspired, coru��ved or agreed, directly or indirectly.
sought by agreement or co�lusion, ar com�nunication or conference, with any persc�u, to �i� the
bid price or affiant. or ot any other bidder or to �i�c any av�rhead profit or cost element of said
bid price, or that af any otiier bidder- or to secure any ad��antabe against the Citv of Palm Descrt
or any person interested in the pmposed cantract. ai�d that alt statements in said propasal or hid
are true.
Signatur�e of Pers ing A�fidavit:
J - v
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Subs T•ibed and swarii to Ei�e this o`Z3 day of
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Na ry Pizhlic Sign�lure
My commissian exp�res:
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��;�o�nec , 20 I�
fABIOLA VA�EMZUELA
Notiry Public - Calilorni�
���� _ -� Rfr�rslde County �
Commission f 2159230 �
� Mr Comm. Ezoire� Ru� 4, 2020 �
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�7�,:,�s�;�: :_ :,i t:::�'
Nie gl�bor arks�
CHARTE1iED MEMBER
CITY OF PALM DESERT
REQU�ST FOR PROPOSALS
#or
Self-Heip Affordat�le Housing Development
For Income Restricfed Properties
Contract fVo. C36514
Exhibit "E"
RESPOND�\TT'S QUALIFICATION REFCR�NCES
1. I�I',FER�NCES:
�'rovide a mininiun� of hva (2} references for ���hich tlie T:ntity has �erforn�er� �ro�ert��
management services sirnilar to those �-equirec! h�' the RFP durin� the past tl�ree (3) � ears.
T}xe�e projects shaUld be similar in nati�re aod scope to thc• Prnperties. Att�cli a separate
sheet far ac�c�itional referenees if ciesired.
CVHC is unab�z ta respond to this request. T'his Re�iiest �or Proposa[s is intended io�' a 5in�l�
Family Self=Help Project and tlierefore does not requii-e property m�nagement �ervices.
Additionally, ��roperty inanagen��nt se�•vices b�ei� t�oc bee� requir�d or n�cessary an an�- Single
Fam�ly Seli=He�p Praject is CVHC's History.
I-Iowe�ee, CVHC�s Partn�r references are:
United St�tes Department of A�riculture, Rus•al Development
Attn: Ron Tacket[. Si�i�le 1=a�nil� Housin� Pro;�ram Dir�ctot•
�30 S Street, .Ag�ncy 41b�
Davis. CA 9�61C-�1b9
(530) 792-581b
�'�ojecis l�ave incl�id�:d I'ien•a Bonita Ph. I, Groups 7Q-73, City of Coachella, �� cot�l
units; Tierra Bo��ita Ph, II. Groups 7�-76. Citv of Caacllella, 39 total units; Morningside,
Groups i--�. Cit�• oi' Inzpzri�l, 48 total Linits, SLmset Sprin�s, Groups 9-1�, City oF i�esert
Hat Springs, 32 tota! units; Narth Shore, Groups S-b, Narth S�lare �unincotporated areal,
� 1 CO�c�� UriEtS.
Caunty of Riversic�e, Housing Divisic�n
Attn: Micllael I=. Walsll, Deputy Directo3�
�555 Arlin�on A��enue
Rivzrside, CA 9?�0�
(953)34�-5�69
Projecis have ie�cluded Tierra Banita Ph. 1I. Groups 7��76, City of Cc�achella, �9 totaE
tinits; Sunset Sprin�s. GraGips 9-11, Cizv oi� Desert Hot Springs, 1 l totai UllltS: NOt��]
S]Zore. Croups �-E. Na�-til Sl�ore {�ii�incot•porated area), 1 1 total li�lits.
Page i of 1
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! iac :ir�,�:� `�-^-nh�i�n
Ne�ghborW rksx
CHARTERE[1 MEMBER
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EXHIBIT F
PROJECT INFORMATION
Planning G�ommission Resolution No. 2314 and Tract Map No. 30795
PLAIYNI�IG COMMISSlO�I RESOL.UTIO�+1 NO. 2314
A R�SOLUTION OF THE PlANNING COMMISSION OF THE CITY
OF PALM !]�S�RT, CALIFORNfA, APPROVING A TENTA7IVE
r, TRACT MAP SUBDIVIDING ON� 20.44-ACR� PARCEL IHTO tQB
SINGLE-FAMILY LOTS and ONE LOT for 26 SEIVlOR CITiZEN
APARTM�NTS., THE PROPERTY �S LOCATED NORTH OF
MERLE !]RIVE, SOUTH OF AVENUE 42 AND W�ST OF HOVLEY
GARDENS DRIVE ALSO DESCRfBED AS ASSESSOR'S PARCEL
NVMBER 624071-040.
CASE NO. TI' 30795
WHEREAS, the P�anning Commission oi the City of Palm Desert, Califomia, did on the
7ih day of flecember, 2004 hold a duly noticed puhlic hearing lo consider the request by THE
RED�VLOPMENT AGENCY O� THE CITY OF PALM D�SERT, for appro�al of the abo�e
described project; and
WHEREAS, said application has complied with the requirements of the "City of Palm
Desert Procedure for �mplementa6on of the Califomia �nviranmenta! Quality Aci, Resolution No.
04-1Q6," in that the Director of Community Development has determined that no futther
!� ` environmenta� review is needed for ths project because enrrironmental impacts were prer►iousiy
�`. . analyzed in the initial study prepared for the Hovley Gardens master pla� of der►elopment (PP 0't-
i t), which was approved by the City Council on June 14. 2Q07, and for which the City Council
certifted a Negative Oeclaration of Envira�mental Impact.; and
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WHEREAS, at said public hearing, upon hearing and considering all testimony and
arguments, if any, of alf 9nterested persons desiring to be heard, said Planning Commis5ion did
find ihe ioilowing facts and reasons to exist io j�stify appror►al of the te�tative tract map:
'I . That the proposed map is consistent with applicable general and specific pfans, as
amended.
2. That the design or irnprovement of the praposed subdivisEon is consistent with
applicable general and speciRe plans.
3. That the site is physical[y suitable for the iype oF de�elopment. "
4. That the site is physicalfy suitable for the proposed density of devefopment.
5. lhe design of the subdivision or the pmposed improvements are not liEcely to
cause substantial envimnmental damage or substantially and avoidable injure fish
or wildliie or their habitat,
6. That the design of the su6division or the type of improvements are not likefy to
cause serio�s public health probfems.
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City of Palm �esert RFP — Selt He1p liousing �e�reloprtrenl0ctober 2018
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PLANN[NG COMMI5Sf0� RESOLUTION NO, 2314
7.
8.
WtiEREAS, in the• r�e�iew of this tentative tract map fhe Planning Commission has
cons€dered tha effect of the contemplated action on the housing needs of the r�egion for
purposes of 6alancing these needs against the pu6lic service needs of the res9dents of the City
of Pafm Desert and it5 environs, witF� availa6fe fiseal and environmental resaurces.
NOW. THEREFOR�, 8E li RESOLVE� 6ythe Planning Commission afthe CiryofPalm
Desert, Cafifomia, as follows:
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Yt�at the above recitations are true and carrect and cor�stitute the findings af the
Gommission in this case.
2.
That.the des9gn of lhe s�bdivision or the type of improvements wil[ not conflict with
easements, acquired by the pu6�ic at lar�e, for access through or use of property
within the proposed 5ubdivision.
ihat the design of the su6division orthe type of impro�emenis wip not restrict solar
access to the property.
That approval of the a6ove described Tentative Tract Map hlo. 3d795 is hereby
approved, subject ta the attached conditions.
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PASSED, APPROVED and ADOPTED at a regular meeting of the Palm Desert Planning
Commission, held on this 7th day of December, 2004, by the fo1lowing vote, to wit;
AYES:
NOES:
ABSENT:
ABSTAiN:
CAMPBELL, FINERTY, LOP�Z, 7SGl;OPP, J0�lATtiAN
NONE
NONE
NONE
SABe1�JONA , Chairpersan
ATTEST: •
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PH[LfP QR�LL Secretary �
Palm Dasert Plannfng Commission
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City af Pa1m Oesert RFP — Self-Help Hausing pevelapment Oclaber 2018
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PLANNING COMMlS510IV RESO�UT[ON NO. 2314
� CONDITfONS OF APPROVAL
CASE NO. 77 3U795
Denartment oE Communitv De�elopment:
i. The development of the properly shaEl conform substantiaf ly with exhibits on ffe with
the Repartment of Community Deveiopment, as modifled by khe fol�owing
conditions.
2. Recordation of the final map sha[1 occur within 24 months from the date of final
appro�al unless an extension of time is granted; otherwise said approval shall
become null, void and of no elfect whatsoever.
The development of the property described herein shall be subject to the reslrictions
a�d limitations set forlh herein whlch are in addition to all municipal ordinances and
state and federal statutes now in force, or which hereafter may be in farce.
4. Prior to issuance of a building permit for oonstruction of any use contemplated by
this approval, the applicant sha11 ffrst obtain permits andlor clearance from the
foilowing agencies:
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�,t ,� Coachella Valley Water District
City Fire Marsha]
Public Works Repartment
Architectural Review Commission
Evidence of said permlt or clearance from the above agencies shall be presented to
the department of bui�ding and safety at the time of issuance of a building permit for
the use contempfated herewith.
5. All sidewafk plans shall be reviewed and approved by t1�e department of public
wor�cs priorto architectural review cammission submittal.
6. All onsite utilities shalf be u�derground.
�andscaping and irrigation plans for the apartment site and typical front yard
landscaping and inigat9on pians for the single famiiy homes shaEE be submitted for
review at the time construction drawings are submitted for plan check.
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P a g e � 27 City af Aelm �eseR RFP — Self-HeSp Housing Davefopment Dctober 2018
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PLANNlf�G COMMfSSION RESOLUT�Of� NO. 2314
S. Tha project shall be subject ta ap applicable fees at time of issuance af perm9ts
including, but not [imitec! to, Fringe Toad Lizard, Att in Pubfic Places, TUMF anc!
School Mitigation fees.
9. A 6-faot high hlock wa11(meas�red irom finished grade of each proposed �ot to tap
of wa11) shall be constructed along the westariy, northeriy, and easlerty perimaters af
the tract where b�ock wal[s da not exist.
1Q. Prior to the issuance ai building permits, ihe property owner shall prepa�e an
' atiordable housing agreement for the project site. A copy of the signed agreement
shaU be submitted to the Plar►r�ing �epartment.
1'1. Construction drawings forthe senior citizen apartments shap include e�evations for
carport structures. These drawings shall be sub�ect to review and appraval by the
Architectural Re�iew Commission priorio ihe issuance of building perm3ts.
12. Minimum setbacks ior the 94 single family homes not franting on Merle Dri�e shall
be the following:
Front SetbacEcs:
Rear Setback:
Side Yards:
13.
t5'-0' from living area to front property line located ai
rear of wedge-shaped cancrete street curb
25'-0" from garages to front properly line located at rear
of wedge-shaped cancrete curb
2�'-�" fram living area
5' 8 5',15' street side yard on comer lots
Minimum setbacks for single fami[y homes on the 1�4 �ols fronting on Merte Orive
shafl be the following:
Front Yard: 20'-0" to front property Iine, which slarts 10 feet 6ack fram street
curb face
RearYard: 'ES'-�"
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5ide Yards: 14 feat combined, each of which shafl be not less than 5 feet
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Cily of Palm �asert RFp— Self-Hefp Flous�ng Developmenl Ddoter 20i8
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PLANiVEWG COMMfSSION RESOLl1T[OIV NO. 23i4
8, The project shall be subjecl to al! applicable fees at time oi 9ssuance oi permits
i�cluding, 6ut nat fimited to, Fringe Toad Lizard, Art in Pubfic Pfaces* TUMF and
School Mitigation fees,
9. A 6-foot high block wall (measured irom finished grade of each proposed lot fo fop
of wa11) shail 6e consirucled along the westerly, northerly, and easterly perimeters of
the tract where block wa11s do not exist.
10. Prior to the issuanoe ai building permits, the property owner shall prepare an
' affordable housing agreerrsent ior fhe project site. A copy af the signed agreement
sha[16e su6mitted bo 4he Pianning Depariment.
11, Construction drawings for the Senior citizer� apartments shall incfude elevalions ior
car�ort structures. �hese drawings shaq 6e subject to review and appro�a� 6y the
Architectural Review Commission �riar to the issuance of building perrrtits.
12. Minimum seibacks for the 9a single iamily homes not ironting on Merle Drive shall
be the followi�g:
Front 5etbacks:
Rear Setback:
Side Yards:
15'-D" from living area ta front �ro�e�ty lina located at
rear of wedge-shaped concrete sfreek curb
25'-0" from garages ta front property Iine located at rear
of wedge-shaped concrete curb
20'-0" from living area
5' 8� 5', i5' street side yard on corner lots
13, Mfnimum sathacks for sir�gle family homes on the i4 fots ironting on Merle Drive
shali be the following:
Fror�t Yard: 20'-(?" to front praperty line, which starts 1 U feet back from street
curb face
RearYard; i5'-D"
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5ide Yarads: i4 feet combined, each of which sha�l be not less ti�an 5 feet
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City a! As�m �esert RFP — Selt-Help Flousing Development October 2018
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PL4NNIHG COMMISSION RESOLUTtON NO. 23'�4
�.. '!4. O� the fina� map, the depth of the '!4 lots on Mer�e Drive shall be reduced irom 9Q
feet to 87 feet in order Eo increase fhe lot depth of adjoining lots to the north.
15. Setbacks for the senior cifizan apartmeni buifdings and carports shail be as shown
on the development plans daied Ociober 21, 2004.
Denartment of Public Warks:
'!. Drainage fees, in accordance with Section 26.49 of the Palm Desert Municipa! Code
and Pa1m Desert Ordi�ance Number 653, shali be paid priorto recordation af final
map.
2, Any drainage facility construction required for Ihis project shall 6e condngent upon a
drainage study prepared by a registered c3vil engineer that is reviewed and
approved by the Department of Public Works prior to start of construci�on. The
profect shalE ba des9gned to retain storm waters associated with ti�e increase in
developed vs. undeveEoped conditfon for a 100=year storm.
3. Signalization fees, in accardance with City of Palm Desert Resofution Nos. 79-17
and 79=55, shall be paid prior to recordation of fina� map.
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�,, , 4. �ull public impCovements, as required by Sections 28.40 and 26.44 of the Palm
` Desert Municipal Code, shall be installed in accordance wRh applicable City
standards including ti�e following;
Impro�ement of Merle Dr�ve wikh curbside sidewalk to match previous improvement
from first phase.
5. As required under Palm Desert Municipat Code Section 26.28, and in accardance
with Sections 26.40 a�d 26.44, complete improvement plans and specifications
shal] be submitted to the Director of Public Works far chec&ing and approval befare
construction of any improvements is commenced. O#fsite impro�ement plans to be
appm�ed by the Public Works Department and a surety posted to guarantee the
instaUation oi required offsite improvements prior to recordation of Final map. Such
otisite improvements shall inc�ude, but not be limited ko, curb and gutter, asphalt
paving and concrete sidewalk in an appropriate size and configvratfon. "As-buiit"
plans shall 6e submitted to, and approved by, the Director of Pub�ic Works prior to
khe acceptance of the impro�ements by the city.
6. Improvement plans for waker and sewer systems shal! be approved 3�y the
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P a g e � 30 Clly aT Palm �esert RFP — Self-HeSp Hauswg �avelopmeet Octobet 20t8
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PLANHIiVG COMMISSEON R�SOLUTI�H HO. 2314
respective service districts with "as-6uilt" plans subm9tted to the Department of �
Pubfic Works priar to praject final.
7, Al] pubEic improvements shall be inspected by the Department of Puhlic Works
and a standard i�spection tee shaq be paid prior to issuance of grading permits.
Landscaping maintenance of the "Retention Basins", shall be provided by the
ho�eowners association in addition to ail other common areas. Landscape
treatnzent sha[I be water effioien# in nature and shal[ be in aocordance wfth the City
oi Pal� Deser# landscape design standards. Applicant shel! be responsible for
execuiing a declaration of Conditions, Covenants and Restric#ions, which
decfaration shafl be approved by the City of Palm Desert and recorded with the
County RecOrder. The declaralion shali specify: (a} tha applicant shall ov�rsee the
formation of a p'noperty owners association; (b) the,pnoperiy owners associakion
shall be formed prior to the recordation of the Map; and (c} the aforementioned
landscaping and street mai�tenance shall be the responsibility of the property
ownsrs association.
9. In accordance with Pafm Desert Mun9cipa! Code Section 2fi.44, complete grading
plarts and specifications shall be subrr�ifted to the Director of Public Works for '
-„ checking and approva! prior to issuance of any permits. An offsite grading �
��� authorizatio� let'ter is required prior to grading peRn9t €ssuance for oKsite grading on
adjacent property.
i0. Tr�aKc safety slriping shafl be installed to the specifications of the OireCtor of Public
Wo�lcs. A kraffic controf plan must be submitted to, and approved by, the Director of
Public Works prior to the placement of any pavement markings.
11. Fup impravements of interior streets based on residential street steRdards in
accordance w�lh Sectio� 26.40 of the Palm Desert Municipal Code shafl be
provided. Applicant shall be responsible foracquiring a!I necessary easemertts for
o�f-site roadway improvements.
12. Complete tract map shall be submitled as required by ordinance to the Director of
Public Works ior checking and approvaf prior to the issuaRce of any permits.
93. Any and all offsite improvements shap be preceded by the apprnva( of plans and �
fssuance of valid encnoachment permits by the bepartment of Pub[ic Works.
44. A complete prefiminary soils investigation, conducted by a registered soils engineer, i
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P a g e I 3Z Cily oi Palm Desert RFA— Selfaielp Housmg Deve�opment Odaber 201B
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PLANN�HG COMMiSSfON RESOLUTION H0. 2314
15.
i6.
shal� be submitted to, and approved by, the Qepattment of Public Works prior to the
issuance of a grading permit.
Pad elevations, as shown on the tentafi�e map are subject to review and modification ir�
accordance with Chapter 27 of the Pafm Desert Mvnicipal Code.
Waiver of access to 42f0 Avenne and Mer1e Drive, except at appro�ed tocations, shall be
granted on ihe fina! map.
17. Applicant shall comply with provisians of Palrri Desert Municipaf Code 5ection 24.12,
fugitive �ast Control as well as Section 24.20, Stormwater Management and Discharge
Control,
18. Prlor to the start of construc4on, tfie applicant sha11 submit satisfactory evidence to the
Direcfor of public Works of intended compliance with the National Pollutant Discharge
Elimfnallon 5ystem (NPDES) Genera! ConstrucEian Pecrr�it for storm water discharges
aSSOciated with canstr�ction.
99.
20
Easements to provide access to the single-family lots to the north and south of the senior
units shall be provided on the.final map to the satisfaction of the city engineer.
Any and a11 utilities shall be under grounded.
Riversie3e Caunf� FFre Deaartment:
With respect to fhe conditions of approval regarding the above referenced pmject, the fire
department recommends the. fo�fowing iire protection measures be provided in
accardance with City Municfpal Code, NFPA, UFC, and UBC or any recognized Fire
Protection Standards:
7he Fire Qepartment is required to set a minimum fire ftow for the remodel or conshuction
of a11 buiIdings per ilFC article 87.
2.
3.
4.
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A frre t�ow of 9300 gpm fo� a 1-hour duration at 20-psi residua! operating pressure must
be avaii�ble before any combustible materia! is placed on the job site.
Provide, or show there exists a water system capab[e of pmviding a potential gallon per
minufe t�ow of 1500 gpm for single family.
The required frre flow shall be avaifab{e from a wet barrel Super Hydrant(s) (6" x 4" x 2-
112" x 2-'l/2"j, located not less than 25' nor more than 200' from any portion of a single
family dwelling measured via vehicufar travelway.
G1ity ol Palm peseK RFP — Self-Hefp HouSGlg OeveIaprtlerrt Odo6er 2018
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PlANNI�VG C�MMISSIOIV i2ES01.l1T101V NO. 2314
5. Water Plans must be approved by the Fire Marshal and i�clude verification that the water
system wilf produce tt�e required tre f1ow.
6. � All buildings sha[I be accessib�e byan all-weather roadway exiending to wiihin t50' of alf
portions of the exteriorwalls of the first story. The roadway shall not be less than 24' of
unobstructed width and 13'fi" of vertical clearance. Where parallel parking is allowed, the
roadway shall be 36' wide with parking on both sides, 32' wide with parking on one sEde.
Qead-end roads in excess of 150' shall be pro�ided with a minim�m 45' redius turn-
around (55' in industrial devefopments}.
7. Whene�er access into private propertJr �s controlled through use of gates, barriers orother
means, provisions shall be made to install a Knox Box key o�er-ride system to aflaw for
emergency �ehicle. access. Minimum gate width shall be 16 inches with a rrtinimum
vertica( cfearance of 13'6".
8. AI[ buildings shall ha�e iEluminated addr,esses of the sixe approved by the City.
9. Gonditions subject to change with adopfion of new codes, ordinances, laws, or when
build'mg permits are not abtained withln twefve mo�ths.
_ A[1 questions regard9ng the meaning of these conditions shal! be referred to the Fire �
f;` MarshaA's �ifice at (760) 34&1870.
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P a o e � 33 City of Pelm �esert RFP — Self-Help Housing �eveloprtlent Orlaber 2018
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w rxr a�r or rrw xarcT, wewn ur atirxs,or, srxrr ar uurorw,
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CITY QF PA�M QES�RT
REQUEST FOR PROPOSALS
for
5eff-Nelp Affordable Housing Development
For Income Restricied Properties
Contract No. C3S510
ATTACHMENT 1: C�RTIFICATE OF IiYSUR4NCE
Updated Certificate of �nsurance is pendii7g, u�on receipt trom insurance coinpany, we ���ill
farward to yattr office. Attacl�ed is inast rec�nt availal�le certiticate.
Page 1 of 1
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ATTACHMENT 1
��' �� DATE(MWDalYYY1'�
�� CERT[FlC14TE O� LIABIl.ITY INSURANCE I zo�z�a��ox�
7HIS CERTIFICATE IS ISSllED AS A iNAi7ER OF 113FOEtAAA71DN ONLY AN� CONFERS KO I�GH7S liPdN THE C�RTIFICAT� HOl.17ER"THIS
C�R'I1F1CpTE �OES NOT AFFlRMAi1VEl.Y OR NEGA71NEl.Y AMEND, EXTENq OR A[.TER 7HE COV�RAGE AFFORDED BY iilE POLICf�S
HELOW. THiS C�R7iFICATE OF INSl7RANCE DOES NOT CONSTITLTTE A CONTRACT B�'CWEEN THE 13SU]NG lNSURER(S�, AUTHORfZED
REPRESENTAT}V� DR PRODl10ER, ANti 7HE CER-!']FICA7E HOLD�R.
10.7PDRTANT: lf tbe certi8cete ho�der fs an A��ITI6NAL INSUREU, ihe poli�y�Ees) must be endorsed. if SUBROGATIDN !S WA1VE�, s�thjee! ta
the terms and condf,l4ona oi ihe pollry, certain pollcTes may require ao enda�sement A statemanE on th[s certifEcate does not eonfer rights to tha
eertificafe holder In lieu of sueh endorsement(sk
PRODUGER �[���+a�T K1m HR�CI1�II90a
JD Fulwi2er & Co. Insuraaoe, �n�, �'++�E (503 293-8325 F�
fAfE.Ho_E� � - Il4fRNnF,I5a7)593-6i]B
5727 6S9 Maeadem Ave ����,khutchinso��jdfnlwiler.cwn
PO 9aX 69509 1HSUREktf5fAFFOFtbfNGCAVEqAGE HAkCIt
Portlaud OR 97238 � �y�p;�+iret Pieroury Iasuran.r.P
[NsvAeo � WsuR�tB:Philadelvhia laauraaae Co
Coaehalla Va11ey iFoueiag Coali�ian f���c:
95-701 Moaroa St., Suite G �wsut�ao:
I ]NSURER E : '
Indio . CA 52207.-3964 �mt.snaFp�•
COV�}2ACF5 CERTIFICATE A![JMBER:2D].7 to 20],8 ��� REV15f�N Atf]I4NBER:
7HI5 I5 TO CERTIFY TH,47 iHE PC3L4CIES OF IIVSURANCE �.IST� B�I.OW HAVE B�EN ISSUED 7D THE INSl1RED tiAM�p ABoVE FOR TH� POLICY PERIOD
fhlAICATED, jV0T1M'T};57,4ND1�+G AM' REQUIREMENT, TEAM OFi CONpiT701V OF At�1f CONTRACT OR aTHEA DOCLIIJlEN7 WITH RESPECT 70 WFllC}i TH15
CERTiFli:4TE NWIY BE�ISSUEO OR MAY FER"fAfN, TFiE 1TE5f1RANCE AFFDR�F� 9Y THE P0�1ClES p�SCAIBED HEREIN 1S SUB,IECT TO AL! THE TFRMS,
IXCLLlStONS AND C01yIDTPiON5 oF SUCH �,nnT/1 7'CI LIMITS SHOWhI HIAY iiAVE BEEN R�QUG SY'Alp C[AIMs,
INSR " — --- - A�� 'C�� � --- -- �� P��FF " POL7CY �7CP
LTR 7YPE0'rINSBRANCE iNso bvo PflLtCI'NtlMFFit 'r�+�rt:DIYY1'YI FMMldprvn� LINIRS
]L Cp�MERCWLGEHERALLIABfCRY �q�J-jp�J��y� y 1�0O��ODO
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I Ip��ONALBADVlH1llRY S 1�ODDJ000
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OTHER:
AUTOMP9t�E LA9[LI7Y
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F.LIN56AS�-PDLICYLRAR E
DESCRlPT01�I bF OpFAATI0N6 lLQCAilOH51YEHICLES �ACORQ 1Q1, Addlllerul Remerla sehedufe, mrq pe ettaehed R mere space }s iequlred}
CERTfFICATE EiOLbER
Ineured�� Copy.
�� .
ACORD 25 (2Dt41p7)
�NS026 {zo14o1)
CANCE�LA'TION
SHOULO ANY OF THE RB�V� pESCRIBEG PDLJCIES BE CANCELLED BEFQAE
T!{� E�(Pl}LqT10N OATE THEREDF, HDTICE WILL SE DELIVFREp IN
ACCOR�AHCE WITH THE POLJCY PRD1lI51DN5.
K37rt H11tC}171ri90X1�7CIMH Y !I''�l /7GG'�L�LUJZGr�'��
O i 986 2D74 ACORp CORPORATION. AII rights reserved.
The ACORD �ame and lago are registered marks af ACORD
Ban k of America ���
Merr`rll Lynch
Community DeveloprT�ent Bankin�
CA9-� 93-20 31
333 5outh �#ope Street, zQ`r' Floar
Los Angel�s, CA �Jfla7!
Dctober l 9, 20 i 8
City of Palrn Desert
Attn: Jessica Gar�zales, Senior Nlanage�nent ,Analyst
73-5[[) Fred Waring Drive
Palm Desert. CA ��?60
Pedro Rodriguez
Coachella Vall�v Housin� Cc�alitinn
45-70I Moiuoe St. Suite G
Indio, CA 922U 1
YtE: Self-Helg Af�'orc�able Housing Deve�opment RF�
Contract Na. C36�10
Dear Jessica and Pedra:
F3ank of America currentlY has a financing re2atianship with Coachella Valley Ho��sing Coalitian. ai�d
would consider for a tuture Palm De�ert affordabt� housing transaction, the Developer's construction
guarantees, rnst guarantee�. operatin� deficit, and camp3etion guarantees.
Based on aur pretrininary diccus�ions and re��iew, this project is ccrosistent with thc nlission c�f the Bank to
redevelop and revitalize neiahbarfloods by developing aftorda�[e l�c�using. VVz would be �nterested in workin�
with Coachetia Vall�y Housing Coalition if you are selecte�l by the Ciiy c�f P�lm DeseEY.
Pleas� n�te that this letter does �3ot represent �n offer or conuniu�ent by t�e B�nk of America for dte prn�osed
financing, nor does it define any terms ar conditions of a lo�n corr��iutment. Issuance of a commit�nent f�y
tl�e Bank of Ame�-ica is s�bje�t to. among other things. the approvaE of a laan request under the Bank c�f
f�n�erica's i��ternal a�proval process.
Please feel f��ez to contac� me at � 13-G21-7590 if 1 can answer any questions or provide furth�r information.
Best regards,
` �y��G��l. ¢—�f�,j��� �
L
L
Maria Jayre Ma,ynard
Senior'Vice President, Community llevelopment
Banlc of America MerriIl I.ynch
CITY OF PA�,M DESERT
R�QU�ST FOR PROPOSALS
far
Self-Help Affordable Housing Develapment
�or Incame Restricted Properkies
Cor�tract No. C3�510
Attachment 3
�CKNOWLEUGE�ViENT
The Caachella �'alley Halising Coalition hereb�� acknowleciges receipt oi a!l
docurr►entation relating to the Cit�� of� Palm Desert Rec�uest for Proposals re�eased �n
October 1 I. ?013 ar�d tllat no addendums were r•eceivecl tinder this RPP.
Page 1 ot 1
�����
' ��.� 1
�.�������i:� ,����_�.
�
;o�,sit.g �c���u�,�
NeighborW rksR
CHARTERED MEMBER
CITY O�" PALNI DESERT
REQUEST T'nR PROPOSALS
t«r
Se�f'-Hel� Affordable Ho«sin� Developrnent
F��r Income R�stricted Prupe:-tics
Contract No. C36�1Q
ATTAC�N�ENT �
CONTENT CERTIFICATCON
Responde��t(s} certifies tl�at the folloti��in� stat�i�1e41ts a��e true and coi�rect:
1. The undersigned ��as f�ll authorin tu bind the Developer to t��c Propasal sub�l�itted in
response to the City of Palnl Desert's Re�uest for Propasals far S�l� Help Affordable Housing
D�velapment.
?. Tf�e undersigned certiiies that tl�e information included in or attached to the propos�l is
true ar�d correct and until su�li time the Citv sel�cts and unconditianal[y approves an Agreement,
t11e undersigned will report any cfian�e�s in ar additions to ttie informatian a.i�d furnish hirthei•
docurrteiltation or informatian as n1a�� be requested.
3. Tl�e undersi�ned agrees to harnish and deliver all services, items, and dacunients
1•eprese��ted i�� this proposal.
4. 'The undersigned ���ai-rants that h�'she has not given, offered to give, nnr intends to �ive
at any time hereafter any economic apportunity, it�ture em�tiloyment, gift, loan, gratuity. special
discount, trip, favor, or ser4ice to public servant ii� connection �.vith th�s �roposal.
�, Tlie unc�ersi�ned certiii�s that proposinv Developer, or anyone acting a�1 behalf ot
firru, Eias not vialated antitrList laws ofthe St�3te o��Ca�ifos-nia, Feder-a� antitrust la�us ofthe LTnited
States of America, or calluded in any way, directly �r indirectlr�•, �vith any ca��lpetit�r, partner,
nther proposing firrn, or individual, in the prep�.ration Qf tl�is proposal or fees quoted.
b. The undersigned �ck�lowledges �nd accepts alI terms and coi�ditians referenced in tiiis
Request for Qro�osa[s.
7. "The ux�dersi�ned certifies they, or t�ieir represented lir�n, has noi r�ceived
ec�mpensatiar� for parlicipation in the prepa�•ation of ihe specif cations for this Req��est for
Proposals.
8. The unders�gned certifies ihe�-. or their represenied firm, is flot czii-�•�rnl�� u�lc[er
investi�ation for any harassment, fair h��u�ing or equal oppoi-tui�ity en��loyment violations. or
alleged violati�ns, b}� any state or feder�l �odies, that has iiot been iilfly disclosed including
details c�f that investig�tion, in if�is proposal.
ic��
1 �••• '
�L�lr,hell$ V�llcy
�-+o�,s��ng Coai�tion
Page 9 of 3 .
CITY OF PALM DESERT
REQUEST FOR PROFOSALS
tor
Se�f-Hel� Affordablc Housing llevelopr�aent
For Income Restrictcd Pr���rties
Cantract No. C36�1 a
ATTACHMENT �
CONTFNT CERTIl{ ICATION
9. -1'he candersigned agre�s to e.r'ecute, or negatiate in �oocl 1'aith tlie execirtiai� of a
contract for the provisiosi of services represented in ti�is pro�osal.
I0. The t�ndersigned acicnowledges the City of Palm Desecrt's righi ta reject any, and �11,
prop�sals ai its sole discretion.
jSig�zati�res to�'o!lo�w or� tlre rre.rl Fa;eJ
Page 2 of 3
�����
1�••�1
'.oa�hellE Val1�y
�aouS�ng CQalisi�n
CITY DF PALI�1 DESERT
REQCI�ST FOR �'ROPO5ALS
tor
Self-He[p AfFard�ble Housiag De�•e�opment
€�o�� tiicome Restricted Propec-ties
Coniract No. C3b5I0
ATTACHMENT 4
C0ITTENT CERTIF'ICATION
PR4PO�AL CERTIFICATION ('Co�tit7�red)
� -- -1�
n
S' nat �re of Auth rized Representative
Ju[ie Barnstein
1'rinted Name af Authorized Represex�t�tive
���. �3,��1�
Date �
Fxecutive Offcer
Tit]e
California nonpro�t public benefit corporation �01(c)3
Printed Firtn Name L��al Status {]nc., LLC, �tc
ACKNOWL�DGEMENT
A not�ry- public or other affcer completing this cei-�iticate verities �nly the identity o� the
indivic�ual who signed tlle d�cument, to wfiich this certificate is attacl�ed, and nQt the
tri�tlifiilness, accui•acy, or vali��lih- o�'t11at c€o���ment.
State of California )
} SS.
Cntility of Riverside )
On �C�bet -�.� ,?�� befare me, Fabiola Vaienzuela, a Notary �'ublic, personally
appeared Ju1ie Bornstein, wEio prov�d to �ne nn t}�e basis of satisfactory evidence to be the
person�j�u�hose narrte� is/�-r� subscr�bed to the w�itiiin instrument a��ci acknc�w[edged to me that
�Ishe/t�y executed the same in �is/t��r/tk�r aut�orized capacity�j.�sj, and that by �her/t�r
signatur��s� on the instrument the pers�n�'; dr tt�e entity upon behalf' al� wllich tIze person�s`f
acted, executed the instrument.
certifv under PEN.aLTY OF PERJURY und�i• the la�vs of tlie St�te of Cal�fornia tllat the
#ore�;oing paragrapl� is tru� and correct.
WITNESS my ��and and af�icial scal
/'
� l� /"'v
S�gn ure
�
!'age 3 of 3
FABIOLA VALENZUfLA
� � �� Not3ry Pubiic - California
4 -: Riversidc Counly z
z ' Commission # 2159230 D
� Mr Comm. Expires Aug 4, 2Q26 �
Seal
�<���
1 � '
��-�eciiella Vallr;y
Hp,iSiny Coalifi0n
eig�barW �r
Cl1AilTERED MEIIRBER
ry� �\
, ,5 !
�'� J �•
ti
// �
r.� )
�
Leri updalcd on 10R712018
COSTCOD�
7.0
2,0
3.0
4.0
5,0
5.0
7A
eA
9,D
10,0
1'{.0
COACHFLLAVNLEY HOlJS¢9G CQAV110N
PhLM aESEAT HFA- S4 LO'f9
PRE79AINARY CONSiRUCifON 9UOGET
SBFpROOM
UFSCRWTION 9276
PRELONSiRUCSIDN
1.1 ENGRIEFR¢9G65lJRYEY�nClud"+nggfd6rgClf
12 FfLt E. GRADE
t.3 HOUSEPLANS
fA COIv�pCTfOHiE57
73 WA7ER METFR
7,6 WATER USAGE
7.7 PLO7 PL.NIS
f.a iIIiPAONE
!3 FAUIPA�HTREN7AL
CONSTRIlCT10H 5ERYiCES
21 7EMPORARYAOWER POLE9
7.2 IiOtl9E METEit
t7 CONSTFtLC110NTPAaER
21 STORAGECONTAW¢i
,2,5 POfiT-01ET
ss r�ow�m�irca�c
Z7 TFJAPORhRYPOWCR
xe �usH oaros�
7.9 7OOLPLIRCHASES�forfartv7ies)
s9 Secwny
CCNCAEfE
3.1 SOILiREA7F�Hi
�Z HOVS�SLA9{includ"vigfornaanApo�[enslon)
3.7 FLhSWORK(poRhes,diireways,ra[kways,stp
FRfih@1G ANU RDOFP[G
1.! ROVGHLIIhffiERC�rtclu�ngrid"�aRtbarfief}
12 FRAh�1G (iacluCng hafdY Pa�I
t3 7RUS5�
<A RODFWG MATERU0.S
1.6 WINOOWS
�6 GNt0.GE000R
PLlIMBRJG
5.7 PLlIM81NG
52 9AMAG6
s.� FlaesaRwK�xs
s,� serr�craxx
6S PROPANEG/197ATi%
HEATWG ANO {VC
6.4 HFATWG,JVCAN�EVAPCDOL.ER
� GrTRlCAL
7.S ELECiRICAL(�oughandfinish)
72 UH�FRGROl1No MATEItWL�eIECIlieal, phme,a
wsuuaoH
a.t wsuunon.
HERS TESTRIG
ORrifN1
9.7 �RriYA21
F]CIERIOR NfALLS
147 Ui7HQi0 S PUISSER
FIN6H CARPFI�TRYB HPAMAfRHE
1�.1 FVS6}I LUMBER (iMtu�vq Ooors d. LAC�sj
71I FT76}f MAROWAFiE
11.3 PA4lf ANU MATFRWLR
��.� cnewers
11.5 FORR4GATOPS
71.6 YATRrY TOPS
77.7 RANGEAHDHOOD
3,000
7 090
500
soo
�oo
�OO
�00
6,600
SSD
95G
400
zoo
soo
mo
2S9
sao
aso
soa
],910
350
17,090
7,700 _
77,050
7,050 6
5,400
9,600 ■
6�/00
1,200
600
29�50
7,600
$50
x,000
_ �
9,650
6,500
6,SOp
6,600
'i,590
e,soo
�,000
750
3,750
7,OOD
7,nn0
7,SOO
7f00
2,C00
30D
BE9
7,500
70�
�sa
600
r,uo
I BmRDOM
19T4
s,000
z,00n
soo
340
soo
soo
200
B,fipO
650
950
400
200
zoo
xoo
zso
500
aso
700
H,97o
359
13,509
3,70�
17,559
9,70fl
8,6011
s,�oa
6,700
1,390
650
70,ZS0
7,690
sso
z,00a
9,650
fi,59fl
6,500
6,000
7,500
e,aoo
a,oao
950
3�35G
7,20�
7�00
7,700
7,700
2,600
900
970
2,500
790
sso
600
T,E80
J^
COSYCOCE
7/.0
18A
COIYC!lELLA VlLL.LEY MOUSINO COp1Ji1DN
PALM �ESERT RFA -1� LOTS
PREEINpMAAY CON37RlIC710N BUOGET
] BEDROOM
UESCRIP710M 7775
711.5. CMPEf i Bl1NOE
l4.1 CFRAhNC 771-Ei CARPET
us eu�ros
LANOSC�PlNG
1�.t FINL4HaRAUE
16.2 PERMANENI' FENCE
76.7 SPRNKLER SY�7EM (inCludlnyllmeQ
1BA PIJWTIIlGM117ERW.8(iRClutli�gsodj
SUB•TO:AL CON37A4CTION COS7
17.0 CONTNIGENCIEB
77.7 CON7N16ENCIEs
172 MV�ILBO%ES
SU&TOTAL CON3. COST d CONi1NGENCIFS
�a.o LJWDGOBT
7t.7 WVDC057
SIlB TDTAI CON8TRUCTION pN� IAND COST
�
SY.O FEFSNON1fOVERNMENTfiL
14.1 Cl.Q4N6 COSTd
7}3 PROPQiTYTAX
79.7 ACtI�ENT IN9URpNCE
1!A PLIWSlWbSPECS
f0A FEE960VERNMENTAL
x0.t SEWERCONNECSIOM
20Z WAtER CONNEGTIDN
20.] BUIFAWdPERMIT
�0./ SCHOOLFEES
:o.s o��re �s
TATAL HOIlSE COSY
XAAOC45TCON37R.
ppEYNEM6 WAf3E
W�ED COSi
FE69
roru cvNarnucnoN
/
APPIUfSE� VALIlE
sw�r ecum
PERCEMTAGE
TO7ALCON57RUCT10N
Nl1MBER OF MOMES
TOTAL
T07AL PRO.IECT COSY
Y,1E0
aoo
z,�u
�oo
�,6P0
1,700
P,400
�¢00
117�t0
1a25
106
4,{26
119,E76
�:.000
�Z,OGO
7it,316
B,iRD
406 I
60C
�.i00
I,i57
6,:97
7�DG
/,417
soo
a7Ass
769,00�
17f,�15
O
4Y,000
2T,ti5
i�f,ovo
1{4,900
1lt,000
3.001
��cx
1i9,000
4
�ss,wa
48ECRDOM
7371
i,�so
aoo
z,iw
aoo
�,600
1,�0
��
t,500
120,t40
t,231
i0D
1,331
7i1,571
�r,000
1S,ODO
767,571
7,i00
400
670
/,600
I,i51
6,alT
7,7�
1,7�2
L00
xa,sso
u�.000
127,671
0
�Y,OOD
2t�30
7l2,OOD
192Ao0
1fi,500
�,600
x.r�t
19t,000
70
1,l20,000
2,675,4fa
�i .i . �
THE COACHELLA VALLEY HOUS[NG COALITION
AND AFFILIATES
Pfaza I, 4�-701 Mor�roe Street, Suiie G
lrtdio, CA 92201
��� �
CONSOL[DATED FINANClAL STATEMENTS
AND
OTHER FINANC[AL ]NFORMATION
�' �`r Year Ended September 30, 2017
THE COACHELLA VALLEY HOUSING COALiTION
AND AFFiLIATES
Consoiidated Financial Statements
And
Other Financial Information
Year Ended September 30, 2017
TABLE OF CONTENTS
INDEPENDENTAUDITOR'S REPORT
CONSOLIDATED FINANC[AL STATEMENTS
Consolidated Statement of Financial Position
Consolidated Statement of Activities
Consolidated Statement of Cash F�ows
Notes to ConsoEidated Financial Staternents
SUPPLEMENTARY FINANC[AL7NFORMATION
Combining Statement of Financial Position
Combining Statement of Activities
Combining Sfatement of Cash Flows
Statement of Revenues and Expenditures -- RDISHTA
For the Period October 1, 2016 through May 31, 2017
For the Period May 5, 2017 throttgh September 30, 2017
For the Period October 1, 2016 through September 30, 20'[7
For the Period July 16, 20'[4 through May 31, 2017
Statement of Revenues and Expenditures —
NeighborWorks America — Expendabie Grant Funds '
NeighborWorks America — Housing Counse[ing
NeighborWorks America — Capital Grant Conversion 2017
NeighborWorks America — Capital Grant 2Q17 - Expendable
NeighborWorks America — Technical Assistance
Consolidated Schedule of F�nctional Expenses
ScheduEe of Expenditures of Federal Awards for the
Year ended September 30, 2017
ADDITIONAL ENFORMATION-
Independent Audito�s Report orr Consolidating Information
Consoiidating Statement of Financial Position
Conso[idating Statement of Acti�ities
Consofidating Statement of Cash Flows
Exhibi�ISchedule
Paae
1-2
A � 4
B 5
C 6
$-33
r � �,
��
1 35-3fi
2 37-38
3 39-40
, -- �
4 4'[
4-� 42 '��
42 43
4-3 44
5
5-1
5-2
5-3
5-4
6
45
46
47
48
49
5Q
7 to 7�3
5'[-54
55
�s-sa
fi1-fi5
fifi-70
'-1
,
`�i
�
THE COACHELLA VALLEY HOUSING COALITION
AND AFFf LEATES
Consolidated �inancial Statements
And
Other Financia! Information
Year Ended Septem�aer 30, 2017 �
TABLE OF CONTENTS (Continued}
�1s; _
E�chi�iUSchedule Paqe
REPORT T� MANAGEMENT -
Independent Audita�s Repori an Intemal Control Over �inancia!
Reporiing and on Compliance��and Other Mafters Based on an
Audit of �inancia[ Statements PerFormed in Accordance With
Govemmenf Auditing Sfandards , 72-73
lndependent Auditor's Repari an CompIiance far each Ma�or
Pragram and on ]nternal Control over Compliance Required
�y the Unifarm G�tidance � 747�
Sched�le of �indings and Questioned Cost 78
r�
r iJ _�i
� + ,.lf 1 i s i si a-
�b,. Yf : R ����_ �'��,�}�� � _� ty - } `� ! � ' ..
. L1�1�,���
y t
���� 4.% 15 ':` !°'1�••'�.�I[�1lSC E�C�COiSY1..i.4i-,A 1 ' - t t x .
.
, --,��� i - - - --- . . .
' y�..
, a �
-. ., �-. ... , .__ _ . . _ , . .
-
.
;_� .. .��... ... . _ _ :i ,. � . .
_ _ _ _ - . _ ' l : - -. - '
. 3 �`. �,r>��,�go Et1�a,R�7�„ s� 5�i ��.�[��s���ar, r�o�.9��x?l •. �?�v} �7���s �°� {760} �7�-�'��"' ��,�..:
�,t' f � i ��i_' t �..f, v E F ., _ �!k .
� ( �
' � � -� f -s - .
� � ,
,.F F 3 . . >}•:� 1 5k �1 -ti
Y. . _ �. . c : . .. . �.•.� � .. , - ' . �'
, � ' F �iND.EPEND�NT'AUDITOR'S REPOR7 � , ; ; _ , �� _
.� : �.i,. ,f�.. i . ,�: s � �. . � .� " .
,f. � s . . :f' �• .. . ' .. ' ' .� .
j � i .� ; 5 + :.{}; _ . . " , , , " ' . _ . -
� � To The�Boa,r'cl�of'DiTecfor' ' ��F�� � , � �'�• �_ .�- .� . � -__ - _..-..
.'. F � _ ' , _ _ ..' ..'. _ " . � ..
TEie;�Coachelia.Ualley,�Housing'Coalition, .[nc. , - -_ . � , .
� ,Indio;�;Califorriia ,� .. � � .. � � �
., , i ' 1 `i �' �. - _ , ' ,. ' . , , . _
� A '- � t � # .. :f" F ' . .. " " _
` Re orE-`on the Financial�Statements� � � � � � �
��k � P _ � - . � �. . � .
� ' �` • �` �� � : �' rv:: "�., .. �- ; , , � � -
°� � :: :� - ., -., � �.. -•� - _. �. ... � . .
_ . .::, ., � . �_
�,' `, > UVe h��e aud�ted '�he accompany�ng"conso�idated �financial.state[nents of.The-;CaacheNa Valley� � � -
{,� Housing; Coali#iori;:.lnc:.(a� nonp�oft organization?,:anel� affiliates, wtiich comprise�the �consolicfated �-
:>, , . ; .. . , , . .
. , . : .:...: ... ... . .: :; . . ,, . _. .
.;� �, _< �, sta#er�entaf fnancial positibn as. of Septeri�ber:30, 20�7;.and.the related conso�idated statements,,, .� '.
;� � ` ` � � of act�vities;�;and ;cash�,flows for�the�•year'then ,ended; .and:tF�e r�lated notes�to, tfie; consolidated - - �� -
. _ ., ,
��"� � �� ` �fnanciaE siatements:" : ,.�. � � . . .. . � _ -. . -.
-� '.3�'��jR �f:,.,,'� -1f '. � � �'S' � ' '_ .. ' 'F _ � _ �� .�.:, ' .. , � '" .
�� ana�emer�t�s Responsibilityfor the F:nancral;Statements
� �� � �� , ""zse < 'i ' } � zF . . . �• . - - , , _. : -
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�x : E�> �?� ,� Management zis respons�iile for` the preparation and. fair-�, prese�tatipn of these consolidatec! �
� . ., , w
M�;�= S�`' '�nancial statement5"i�:acco�dance witi:i :ac'coun#ing=��rinciples generalfy�.'�cceptec� in the United �-
� .V , � � �„� . ,. _: : . .. � :.� . _
� ; � ,� �"x f �;�States.of Amenca� #his,incl�des �ffie design,; rrrzpiementation; nand ,maintenance of.internal controi � �
�`� ,� �� rele�ant �o the preparatiqn:and fair,presentation of fhe�consolidated.�finaricial statemenfs tf�af are .' `�;
��- ��� r`��f�'� �fr,ee from�maierial m�ssfatemenf whether diie;to'fraud or error �; f
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�. ,.� A � �<� '�, Audtt�or''s:�Res`po�isib�lity, <, � ,:�. * ' -
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,,;� � �' �ur�respons�biGty is fo express a��opinio;r� on t}iese consoGdafed financial�statements`ba�ed,�on --
r , %a. t-� -� - . ., . _ ., .. , -'
f �,� our audii � Vt�e coriducted�our_ai.idii in_acco�d"anea wifi� auditing stariciards, generally-acc�pte�f�in`''� �
� -
� ` � `-tlie Un�#ed States;:sof::America_�and;'tfie.,�tandards�:appEicabie to'�inancial'.auc�its�"contained;-in � "�
�
� �� �� ,�. � - - - •. _•- - - . -•- ... , ,, . . . . . , . .
':: x�� ��,>� �ovemmentAud�tmg'Standards,.is`s,.ueal tiy�th�.Camptroller•.Gener`al a�:the�Unite'd 5tates. Tfiose 4�
X�� ���r�� sfandards�reqt�ire that we� pfan'•'and perform tFie. audit to; obtain reasonable assurance� about��? � �
' � ���, _ � r� , �wh�ther th� cor�sol�dafed:fnanc�al;stafements are free from materia[:misstaterrienf. The fnancial ' � _ " ..
:� � k � staterrients.ofr#he affi�iatesywere not aud�ted in`accordance �with���governmenf aucliting�"standards:�',��
Y�-- "n.��'ng tx�,�/ y � � rq � �' ^r
� '�x � ��yz..w{��xi'� 7iz� �a�3�, � 1 � . t , r;, ... . ;t ., s .
� � � ��� �a ���;�,����� �aiid�f ii��oives � performing �procedur.es�,-to'� �abtain`-'audit.-evidence about ,the. amou�nts anci ` � �_
< `� ti�sc'�iisures �n �he consofidated financial staterrienis.�'.'The "�ocedu�res::selecied��depend'�on the
z �� ���' � � � , �,� � - . . . . , , p, . ,, , �.
y Xz ����tid�to�'���udgmer�t, �iic�uding=,the,.assessmenf� of "th.e risks' of.•materral, mi"sstatement� of{ttie -.,
��' .� 4�,� ,��r��lidatetl;'�nancial sta`tements; wt�eti�er��d�e to��fraucl.; or,..�error'' I'n',..making�,fl�ose�.;risk' , '�'`-
`�� ���"`� �ssessments the �uditor considers`_in#'erna[`control"�elevar�t ta�t�re.�ent�ty's: preparatiori aricl;:fair
��:�; ��� �.� , present�tion'nf ihe conso��dated finaiicia[=stateinents=i.n�order,,to desigri audit:proceclures thaf ar.e '
�
�`� .� ;�`�;�� ��approprcate$�nY�the ciEcumstarices;�;,iiiit,:not:for,.the, purpose of,.,expressing;.an, opinio�' o�� tt�e f,
,.....,s ��_ ..e.�. �.��,. _�.. �.� . _,.�... _.,..,,. _,. _ �- . _, .. < . E . , , ,. . .... . .. .,....--
afes= rriai
I. ��Accordingly,� we"�express �no'':
�.5.of accovnting_poficies_u`sed �ai
.`by: ��nanageinen�, ,�as,,.we�l =a's..
�iatements: � ;_'' - �; �,�
� :F
� � ��'f:%
ve obtained�;is suffici�nt:and;aF
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a�e::to' �proiiide.�`a"�
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leti�s'11'l���$t11iY7tC`�p�':;_ "'E-� "c'
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. . . ;; , . : . . In o�raja�n�on;;tha;�co�►soEidafe� fi�iaricial statenn�t�fs �referned io'a�ove: .esent�€air3::., iri�ali rnaie�isl::�::s�=_i:�`:,�:. I=:::� ;:._�:
.. . . . . . . . . . . .. . , , . ., . . �r
. ..
: : . � � . . :res�ts, tF�e eons6fida#e�;fnanc9aF�positiar� ofThe:;Coachefla llaileq�Housir�t�': Coal�fan;=.lnc:;ar�d�° ��::� :. . ..._ ;..�':"�,::
,. _. � _ _.,_::�
'�: ::: �:.� � , aff,��a%s�as'�f�September.3fl; .201?,. and �th� clia - " ..
_ nges�iri�ifs�net�a'ss�ts and i�,t-.�s�i:fiows fcrr tF�e �
:.. . . .. . ..
.., . : _ . . . _ •
�. . „•;:::: . � ,,• ,:,: year.ttien er�ded in�aocortiance�with;acco�nting principles generaliy acce}�#ecl �n�ttre.Un�te€f Sfafes,.., .,:`;,�_�; �_°.''_<;::�:�:�
.�. . . . � . ...:: of •Ainerica
,. . . .,.. ,. _ . . . _ _ . .
. .....:. .::: . . _ , . ..
' Other;MaE�e�s::__� ., '.''..:�. �:: � � • : . , , '_. . . ,
. . .. .. . .. .. . . . . _ _ _. . .
... . . ., .�;: ,.-.:�. : :. �;:. - _ - - � . . .
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: .... . ...:.:.. . ..:...:..� . .. . . , . . _ _ , . . , .
� .� �� ��.,... .�t�i�r:�lri�c��ination � � �
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.. ,_ � ..-� � =��.., . � �- :: . �� .�. � � �
..,�,.:�:�::� .::.:�::;�":;::'.,�ur ��[idit::wa�.::condueted„for�lhe_ u. ase���of_fom't�n � ari�`a�� iriion o � �� - .
: _R rp.. . . . , . 9 . . .. P. , .. .. n the.cflnso[idated �finariciaE,�,` �.:_
� : �statements;:as,:a�rFivle; �7ie;supp�emet�tary financial,ir�forma�on �on �agas;3��io;5� is�present�c3:..:'.`��, . _. : .. :.
.: . . .� . _
•, � ,.far �urpos�s;,of_addi�tarial_-analysis;�rid is,�r�ot:a�requireci:p�rt�o�.tf�e�basi� co�rsolicfated:�naricial ��:��� ._��• �t';.•-,._�:��'�:
,�:: � � �
statements ;The accompany�ng sc(�edule of expenditt��es:of�fed�ral a�iraids�_as ;�q�ufred by Titls'
: � : 2 U S� �;Cade;;of�F�tiera�,Regulaticans:(CFR). Par# 200.itJnrform Admrnistratiwe Requ►raemeni� Gasfi . _ . . .. .
� . , :. : � .;,,:.: Pr�rrelpfes, �nd �tudrt R� urremenfs fcrf Fetlecal Awards,. �s� : re�et�ted :for�pu ._ � �-:. ,�: ``�-:
: :4.: .: . ;. •, .. P tposes of;a�lciitional;..::`; •.•� �
.; <. , ,arlatj�si��and;is�n�t a req�ir�ed:part-of:ft�e �nsofidate�'#inanalal:�s'�atein�rits . Such �nfiorma�ion ts ...
; . „ .
: ' the:respo�tsibil�ty':o�'manag�menf�and,:was �d�rived �fr�m;and:;i�elates: dire�kly, tu �he r�rideriying: �:�:_ .�:;'-; .. �°::=� �.
: .
,r�ccoun6lr�g;_ and: •ottieT ..recortls:-�tised �.io • prepare-=�e c�ns�li�ated �rtancial ,;staiements 'fhe .
........ . .. ., .
.. . . . .,. .
�: . �r�fiormation_:�ias.�beer� sub�e�ted to:fl�e:auciitir�g:pr[iceduresappl�e�;iri;#Iie�audit of;fhe consciidafed . . ,..,-:; � .
_.
fir�ar�ciai statem�nts;�ar�d certain addrtior�al;procedures;.indudirag-comparing �nd;recon�i�r�g st�ct3 -� .-.
• .: . , .. , ._ . .. . :. -..-. .•.
. . _, .�::.: : . .
mformatron ;_dir�e�ly;,#o�,�fhe<::und�riying ;accv�ntingi.: and� :ather: rscords,-;�se� #o:,,prepare:;;th�::_ ��.;:�, .: _�:=�:,-.,....._,
- � consa�idated.:f.rnan�iat statem�n#s or �o.the� cansc�Iidated` �i�aanctai, statemenfs.•�h�mse[wes, ,ar��,;, ,.::::�:. ��� �:;_:�.� :�� �
..;:�: oth�r ac�ibonal._�iroce��ies�_ir+��accortlanc�=;v�ntt�,ai.iditing�stai�dards=gen�ral�� ac�e ed m ihe � �
.::,:: .
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-�::' , ' ;;;; ,;;;;,;,,,;,,;,;;Urnted :�Siat�:of;Ainenr.�:;,;1ii��nc;�apinion►:=tF�e.�nfiorEna�lon,�s,#a�riy:�tated;: jh all :mater�al: res . ..ts; =�:::�.�.� :-:�_ ��;: -::=,::;-.
�' m relat�oi��to:.�s con�alidated financiaf stai,�inei�ts•as.a wiiole �: •
.... . .. .. .... . .. .... .. . _ .
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:.: �. Irt acco:rd��ce rrrith;:Governrrrent'AvtCitirig- Standards,. :we:��ave;�also:�issueti• �iir r��ort, dateri_ _.
.... . .
. ..
:: � �: �.: =:.::.:� ::�.:�:?�:;,�':'Fehn.�ary 7��,2�!'�8�; or��au�_consider^�ation:of The Cbaahella�Vall� ' Haus'irt' ;:Coalitian .Inc:'s iniemal_�:�::::::�::_�.�;���,����:'�:'`
.. ,, .. ,; . .. _ ,. .. . . . . . � :: , . . . � . :. : : ............: : :
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.;� :; : •c:�n�i�fav�r�irtanc�al ieporting�and:on,aur• tests af.its�campliance,aruitt� certain�provis�ans„o#�lawsr:�: ;_.::._=_:`,::".�;;'::�::;
_ .;. .
� ,;�; - :� reyulafic�ns; ��ank�a�s, an�. gra�t: agreemerais and.other ��tters :ihe puipQs�;of fhat repgr� �s to.. : . :�� .
. . ., • . . . , . � . . , .. . . „ � . .. •�_ -
•� ,descnba�:�th�e�scope of our:testing.of intemal��conirol orrer:financial repai�irig and tromp�ian�e ai�ci_:� :;�.••_::��':-'.,_,_``:.
.�.;
: _�.� - - � � - � • . �:� .
,,. , ,. ih� r$suit� of fha# testing, a�d not to, provide:an.op�nian on intemal coritroF.over tlnanaa��reporti,r�g,:::,:.: ��'. .:
� .. . .. ; or ,ort,; cam�l�a�ce 1'ti'at�-:report :is �:ar�;;integra�:part;�of ��ari. �audit : pertormed in accor'cfarice, v�ntl�:��: ,,_:-,�,�.,�= ;_: :.-:�' .�
�: Govemrrler�t Aubfiiin Starra'arris in`�consitlenn T�s;�Coachella:.?ifalle Housin Caalition,.lnc's
� = �:� � � -. . . - g� - Y � •
,.:
�=�;�_� .. . , infemal;can�r�ol.over-�inancial�rep�r�ing,and compiiar€�ce:�:: � � .� �; � .."� .� � �
,. . ..:::..._ ,.. .. . .
_.. . _.�..,:. _.._- .
� - � � - �..-�.� • ����.._„� .
�' "': �te ort on Sumroa�rizecJ,��ompara�i�is:lnformation � �•
:.
.. P . . _ �� - � , , �� .� .. - = ;.� � ._ ..__ _
.. . ..... . . .... . ..:.< : _,-. . . ,
�.�:-: �.�.�,.,:.;. �:: . .. �:� ;: �, .;..�,.,�:::���: �:: _. _ : .. ..; - . �,_ . . : � � . : -. . . . . � : . . . .. _ ...
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: ;;�: ;;:;.: :;;;` :;��:::;;:;:::V�le.�ave:previausly autlited;'it�e: �vachella=Ualley Hoiisii�g�Coalitiari;;�lr�`c.'s�a�tl.:affilli�tes:2016�' ::�'�=_' :.�`�:'�:'::�:= �:
. . .:.:..: ....
•;: :: �n�nciai :s#ate�ents;:and we:axpr�ssed�an u�imodifiet�.apinion on tf�ose financial5tafements m
, . .: _. .. __.
_:,: : , : _ .. . . :. �
: � our repor� �3ated;�,Febniary,� 2, ,2017: � in ovr�:opinron; � ttte:;sur�manzed : campa'r'ativ�;, ii�forriiatFoii ��;::,_.:�� ;-:� �;•' � ':�:'::� -
. .:� : . .,_.
, ; . . .
� �� ` : : -, prese�#ed,#�erein as of and for fhe:yearended, September,3�;°.2fl16;+l5 1�t�S�SfBR�; » all`material:�_ �:,;-::�- : ., • _;:-��.=,:
„• : � .� . . .. .. . .
. . . .;.., . ..., . . .
� ._. ,.
<;'� , ; , , .. respe�ts, v�nfh the�auttifed,fnanciai�statemenfs��om�u►hidi it lias� i�een derived:::,., . . _ ,.::��. '��_. .._. . . �
- � ' _,;.�. ��.=�� � .. . � .._. . . � „ . , � �. .... � -
.��:...�� � - . . . - , - . , : � .. , � . - � � , , .. .-.
. . „;::. _ , ._ . ._
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:: : : .; : : :� ..:•.. . . . .. -: - .. _. -
� � � � •:. ;,
.��.- � -. �:•: ::�~ , ;-.: <� Pafrri;Deseit,.Gafifoniia � • • � � �� . . . � � � . • . ,. � � .
� '._ „-::'-::�::;�;;�='::=:: - � . . � .... . � � � . . . .. -� ._ . -
� :�.,':�Febiva ... 7�������8.::. � -
, . .._,. .._ _ . . . . _ _ _. _ _ - ,_,
,... . - _ .
, ... . ... ._.. . . . _ .
� , ....... ....�.,. .. .,, , .. . �� F< . _ . -' . ' . ' , . , . , • • ,
" _.. •• - , . . . . ._ � � . ' �. � • . " , , ' - - ,
. �\
�
,-
�
FINANClAL STATEMENTS
-�
,. �.
ExF�ibit A
l�..-,�--� THE COACHELLA VALLEY HOUSING C4ALiTiON,
' AND AFFILlATES
Consolidated Statement of Financial Position
September 30, 20'I7 with comperative totals
for the year ended September 30, 2016
ASSETS
CURRENT ASSETS
Cash
Grants Receivable (IVote �)
Deve�oper Fees Receivable (Note E)
Other Receivab[es (R1ote �
Real Property Neid for Resale (Note G)
Prepaids
Depasits �-
TOTAL CURRENT ASSETS
Restricted Cash (Note C)
Notes Receivable (Note I}
Construction in Progress (Note H)
{n�estments In Affiliates (Nofe FQ
Loans Recei�ab[e-Long Term (Note J}
Property, Plant, and Equ9pment - NEt (Note L}
$ 16,056,868
6,044,336
1,273,761
2,433,916
11, 955,684
259,627
741,569
38,805,761
14, 340,925
4, 297,486
3,T93,564
4, 947,337
33,622,721
36,'I 13,543
2017
2036
$ i5,553,289
5,089,118
1,610,155
2,125, 764
i 3,784,912
256,948
685,485
39,105,672
7 3,9$7, 756
3,650,687
3,025,036
4,950,039
34,131,327
34,1T1,025
TOTAL NpN-CURREN7 ASSETS
�;3 � TOTAL ASSETS
,`
UABlL1T1ES AND NET ASSETS
CURREN7 LIABILITIES
Accounts Payable
Accrued Liabilities
Current Portion Long-Term Debt (Note N)
Deposits Payable
Other Liabitities (Note M)
Loans Payable
�eferred Revenue
TOTAL CURRENT L1AB[LITIES
NON-CURF2EN7 L1AB[LIT[ES
Long Tertn Debt-Net of Unamortized Deht Essuance
Cosfs of $46,209 (Note N}
peferred Revenue-Long Term (Note O)
70TAL NON-CURF2ENT LIABILITIES
TOTA� LIABILITIES
NET ASSETS
Unrestricted
Temporarity restrieted (Rfote P)
PermanentEy restricted (Note Q)
TOTAI NET ASSETS
TOTAI LIABILITIES ANp NET ASSETS
�
i,
97,115,576 93,915,8$0
S '135,929,337 $ 133.02'E,552
$
�s�,sss
459,277
3,627,151
640, 334
2, 410,520
'i 67,800
249,820
8,050,558
$ 3B5,755
420,650
1,152,159
606,34$
2,930,916
210, 768
41,662,351
4,542,099
46,224,450
54,275,Od8
72, 227,043
8,522,78Q
896,504
81,646,329
$ 135,92�,337
�See accompanying notes to consolidated financial statements.
4
5,706, 586
42, 619,981
5,037,361
47,657,342
53,363,938
70,774,977
7,601,9�7
�,280,720
79,657,614
$ 433,021,552
Exi�ibit B •
7HE COACHELLA VALLEY HOUSING COALITION ,��
AND AFFILIATES '
�
Consolidated Statement of Acti�ities
Year Ended September 30,, 20�7 with corriparati�e totals
for the year ended September 30, 2016
UNRESTRICTED NET ASSEfS
Sopport
Rental Income
Commercial In�me
Interest ln�ome
Grants & Contracts
Developer Fees Revenue
Mulli-Family Project In�me
Self-Nelp ProjeG {ncome
Other Revenue
Tofal Revenue
Net Assets released Trom restricYion
Restriction Satisfied by Provision of ServirEs - Grants (Note P)
Restriction Satisfied by Pro�ision of Sertices - Capifal Grants (Note Q)
Tofal UnrestricEed Revenue and Net Assets
Refeased from Resfidions
Expenses
Personnel
ConUactual
Suppfies
7ravel
Communirations
Maintenance and Operating
Space Costs
Other Costs
Interest Escpense
Multi-Fami�y Projects
Self Help Projects
Capital Improvements Non�apitalized
Depreciation
Total Expenses
EXCESS (DEFIC1Tj OF REVENUES OVER EXPENSES
OTHER CHANGES
Gai� an forgiveness of debl
Loss an prior year gains
1NCRFASE (DECREASE) IN UNRESTRICTED NET ASSETS
TEMPORARILY RESTRICTED NET ASSETS
Federal, S1ate, and �ocal Grants
Net assets released - Disencumbered - Grants
Net assets released - Eamed Grants (Note P)
[NCREASE (DECREASE) IN TEMPORAR]LY RESTR�CTED NETASS�TS
PERMANENTLY RESTRICTED NET ASSEfS
Cantributions
Released from restrictions
WCREASE (DECREAS� IN PERMANEN7LY RESTRICTED NEf ASSETS
1NCREASE IN NE7 ASSETS
NEf ASSETS AT BEGINNWG OF YEAR
Equity transfers {Note R)
NET ASSETS AT END OF YFAR •
See accompanying notes to consolidated financial statements.
2016
zoi7
$ 8,599,854
236,551
139,915
432,580
577,831
324,624
583,031
308;774
9 9,195,160
3 8,8i0,624
251,022
1d9,794
' 2, t 16,844
1,037,910
283,7fi0
B07,fi39
108,465
13,525,458
1,329,Q57 3,042,182
384,296 657,905
15,231,231 7 4,945,247
5,003,146
1,615,007
144,864
'� 02,372
99,589
1,537,337
1,S5fi,130
9,030,277
642,755
1 fi6,596
1,075,8U8
597,B77
2:2'! 9,045
15,79D,803
(559,572)
4,990,375
1,592,051
9 fi5,834
76,728
113,5B7
1,474,i00
1,460,749
1,U 94,287
ss�,ss �
608,733
1,13D,072
576,955
2,042,076
15,993,197
(1,047,950)
- 30,147,938
(1,866} -
(561,438) 29,099,988
5,93 9 ,188 199,492
(3,ss7,aao)
(1.327,0571 (3.992,182�
922,737 (2,892,690)
�
a
�
250,pD0
(657,905)
(407,805)
25,799,393
53,858,22 i
$ 79,857,614
_ti
��
(384,21fi)
(384,216)
(22,923)
79,657,614
2,0� �,638
$ 8i,846,329
�
Exhibit C
�,--, THE COACHELLA VALLEY HOUSING COALITION
�ti, . AND AFFILIATES
Consolidated Statement of Cash Ffows
Year Ended Se}�tember 30, 2017 with com�arati�e totals
for tt�e year endec� SeptemE�er 30, 2016
; -.�
�1.
�-> -
�t '
�..
CASH FLOWS FROM OPERATING ACTMTIES
Increase in nei assets
Adjustments to reconci[e increase in net assets
to net rash pro�ided 6y operating activities
Depreciation Expense
Amortization of prepaid interesE
Gain on forgiveness of de6E
Bad de6t expense
(INCRFASE) DECREASE IN OPERATING ASSETS
Grant & cantract receivables
Developer fees recei�a6Ee
OEher receiva6Ees
Land held for resale
Prepa9d expenditures
Deposits
Long-term notes recei�a6Ees
INCRFASE (DECREASE) fN OPERATtNG L1ABILITlES
Accounts paya6le
Accrued expenditures
Security deposit paya6le
Other iia6ilifies
Loans paya6Ee
Deferred Revenue
NET CASH PROVIbEb BY OP�RATING ACTMTIES
CASH FLOWS FROM INVESTING ACTMTIES
Transfers from restricted reserve
Transfers lo restricted reserve
Proceeds and payments to Tax & insurance Reserve
ProceedslTransfers tv Operating Reserve
Investment in affiliates
Capital Improvements
Long term notes receiva6le
Purchase of hxed assets
NE� CASH (USEb) BY INVES�ING ACTM�IES
CASH FLOWS FROM FINANCENG ACTMTIES
Principal payments oi mvrtqage
Eamed interest reserve
Proceeds from long-term de6t
Payments.of long term de6t
Deferred Iong-term notes
Equity Transfer
NET CASH PROVIDED (US�D) BY FINANCING ACTIVITIES
NET INCREASE (DECREAS�) IN CASH R CASH EQUNALEN�S
BEGINNING BALANCE OF CASH & CASH EQUIVALENTS
ENDING BALANCE CASH 8� CASH EQUNAL�NTS
2Q17
$ (22,923)
2,219,045
3,745
(955,218)
336,394
(257,183)
1,789.228
(12,100}
(56,064)
(646,789)
406,523
43,057
28,784
(862,995)
167,800
44,254
2,225,538
(723,fi85)
413,401
(26,431)
2,7Q2
{768,528)
508,606
(4,163,798)
(4,757,733)
(86�,742)
(15,85i)
3,596,991
(1,200,000)
(495,262)
2,Oi 1,638
3, 035, 774
503,579
15,553,289
$ ifi,05fi,868
See accompanying notes to consolidated financial statements.
2Q1fi
$ 25,799,393
2,Q42,07fi
(30,147,93B)
($'f ,345}
2,552,6Q7
63,543
77i,365
1,51i,359
(34,585}
�(10,663)
431,494
�3n,sso�
59
(552)
(157,215)
'f25,379
2,287,357
{3,'[ 23,316)
678,654
39,487
(1, 723)
'1,575
65,a62
(301,468)
{ � �, B85)
(2,657, 69 4)
(954,631)
(10,373)
285,816
65,939
(613,249)
(983,506)
i 6,536, 795
$ 15,553,289
[�
i �"�
_�
N4TES T4 FINANC2AL STATEMENTS �
�
' r�
=`.
THE COACHELLA VALLEY HOUSENG COALIT�ON
:(R, AND A��ILIATES
�y ,
��� . -
T Notes to Consolidated Financial Statements
September 30, 2017
NOTE A. NATURE OF ACT�VITIES
The Coachella Vafley Housing Coalition {the Coalition} is a non-profrt corporation
supported hy federal, state, county, and local grants, and re�enues from operations.
The mission of the Coalition is to improrre the li�ing conditFons of low�income
indi�iduals and famifies by constructing and operating affordable housing infused with
communify services programs and other opportunities that enrich, buifd, and grow their
lirres. Currentfy, the Coafition owns and operates six multi-family housing projects, one
single room occupancy project, one ofFice��building, a mobile home park, and twenty-
nine rental houses. in addition, the Coalition has an ownecship interest in twenfy-three
California Limited Partnerships and one California L[mited Liabifity Corporation that
own and operate low income tax credit housing projects. The board of direcfors
go�erns aIl of the operations and programs of The Coachel[a Valley Housing Coaiition.
NOTE B. SUMMARY OF SIGN[FfCANT ACCOUNTING POLICIES
1. Basis of Accoun�ina
�:�' , The consofidated f nancial statements of the Coalition ha�e been prepared on the
_ accrual basis of accounting and accordingly reflect all significant recei�ables,
payables, and other Iiabilities.
2. Basis of Presentation
The Coalition is required to report information regarding its financial position and
acti�ities according to three classes of net assets; unrestricted net assets,
temporarily restricted net assets, and permanently restricted net assets.
3. Comhined and Consolidated �inancial Statements,
The conso[idated financial statements include the accounts of The Coachelfa
Valley Housing Coa�ition and its affiliates. All significant intra-organization
transac�ions and accounts are eliminated.
4. Contr�butions
Contributions from granting agencies recei�ed are recorded as unrestricted,
temporarily restricted, or permanently restricted support, depending on ' the
� existence or nature of any grantor restrictions. Contributions that are restricted by
the grantor are reported as increases in unrestricted net assets if the restrictions
expire (that is, when a stipulated time restriction ends or purpose restriction is
accomplished) in the reporting period in which the contribution is recognized. All
other grantor-restricted contributions are reported as increases in temporarily or
permanently restricted net assets, depending on the nature of the restriction.
�_�� �,, When a restriction expires, temporarily restricted net assets are reclassified to
'� ' unrestricted net assets and reported in the statement of acti�ities as net assets
released from restrictions.
�
THE COACHELLA VALLEY HOUSING COALET[ON
AND AFFILIATES
Notes to Consolidated Financiaf Statements
Septem�er 3D, 2017
NOTE B. SUMMARY OF SIGNIFICANT ACCOUNTENG POLICIES (CONTINUED�
5. Estimates
Management uses estimates and assumptions in preparing financial statements.
Ti�ose estimates and assumptions affect the reporked amounts of assets and
liabilities, and the reported revenue and�expenses. Actual resuits could differ from
ti�ose estimates_ •
6. Casi� and Casi� Eaui�alents
For purposes of ti�e Statement of Cash Flow, the Coalition consider�s unrestricted
highly liquid in�estments to be cash equivalents.
7. Propertv. Plant, and Equipment
Property and equipment are stated at cost. The Coalition capitalizes all
expenditures of property and equipment in excess of $1,OOD. Donated assets are
recorded at their estimated fair market �alues at the date of donation. Depreciation
of buildings and ec3uipment is pro�ided over the estimated useful lives of the
respecti�e assets on a straight-line basis.
Property acquired with federa[ grant supported funds is consid'ered to be owned
by the Coalition wi�ife used in the programs for which it was purchased or in other
authorized� programs. However, the federal go�ernment has a reversionary
interest in the property equa[ to the federaf share of the grant to which acquisition
cost of the property was charged. Property acquired with state contracts not fuliy
consumed in the performance of the contract shaii be the property of the state.
8. Vacation Pa�
The Coalition permits its employees to accumulate �acation time and to redeem
suci� unused leave in cash upon termination of emp�oyment. The estimated
amount of unpaid �acation pay at September 30, 2017 is $157,362.
9. Re�enue RecoQnition
lt is the policy of the Coalition to recognize revenues from federal, state, and county
grants and contracts to the extent of expenditures incurred not to exceed grant or
contract awards. When the grants or contract's budget periods do not coincide
with the Coalition's reporting period, re�enues are recognized on a pro-rata basis.
The de�e[oper fee re�enues on multi-family prolects are recorded based on
percentage-of-completion method and an adjustment is made to the actual amount
earned based on the final cost certification report.
�'��,
�
,��
� '
�
; ;
�,, �
.�
THE COACH�LIA VALLEY HOUSING COALITION
�,. -�`; AND AFFILIAT�S
. ,
�
Notes to Consolidated Financial Statements
September 30, 2017
NOTE B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES �CONTINUED),
10. Income Taxes
The Coalition is exempt from federaE income taxes under Section 501(c)(3) of the
Internal Re�enue Code and application state law.
The accounting standard on accounting for �ncertainty in income taxes addresses
the determination of whether tax benefits claimed or expected to be cfaimed .on a
tax ret�rn should be recorded in the financial staternents. Under the guidance, the
Coa[ition may recognize the tax benefit from an �ncertain tax posifion only if it is
more Eikely than not thaf the tax position will be sustained on examination by taxing
authorities based on the technical merits of the position. Examples of tax positions
include the tax-exempt status of fhe Coaf�tion and �arious positions related to the
potential sources of unrelated business taxable income (UB[T}. The tax benefits
recognized in the financEa[ statements from such a position are measured based
- on the kargest benefit that has a greater than 50% likeiihood of being realized upon
ultimate set�lement. There were no unrecognized tax benefits identifted or
��� recorded as liabilities for fscal year 20� 7.
The Coalition f[les it's Form 990 in fhe U_S. federal jurisdiction and fhe office of the
state's atiorney general for the State of California. The Coalifion is generally no
lo�ger subject to examination by the lnternal Re�enue Service for years before
2014.
1 �. Fair Vaf�e of Financial lnstruments,
The fol[owing methods and assumpt�ons were used by the CoaEition in estimating
the fair �alues of its financial instrume�ts:
Cash and cash equivalents: The carrying arr�o�nt reported in the statement of
frnancial position, are based on quoted market prices, if a�ai[abEe, or estimated
using quoted market prices for similar securities.
Grants, developer fees, and other receiva6les: The net rea�izable �alue carried in
the statement of financial position approximates its fair �afue.
Rea! property held for resale: Quoted prices in acti�e markets for ident�cal assets.
Mortgage Ioans and notes receivable: The net realizable �alue carried in the
statement of financial position approximates its fair �af�e.
�� � ,
10
THE COACHELLA VALLEY HOUSING COALITION
AND AFFILiATES
Notes to Consofidated Financial Statements
September 30, 2017
NOTE B. SUMMARY OF SIGNIFECANTACCOUNTING POLICIES lCONTINUEDI
12. Fair Value of Financial [nstruments (Continued)
,
Accounts payable and accrued expenses: The carrying amount reported in the
staternent of financial position for accounts payab[e and accrued expenses
approximates its fair �alue.
Long-term debf. The fair �alue of the Coalition's long-term debi approximates the
exit cost.
NOTE C. RESTRfCTED CASH
The bafance in this account consists of ihe following:
The Coalition is required to maintain cash reserves for USDA
sponsored multi-family projects. The reseryes may only be
used for capital repairs and improvements, anii require USDA
appro�al prior io disbursernent.
The Coalit�on is required to maintain cash reserves for debt
service, capital repairs and impro�ements for three iow-income
multi-family housing projects owned by CVHC locaied in the
Cities of Temecula, Mecca, and Blythe, Ca[ifornia.
The Coaiition is required to maintain joini restricfed certificate of
deposit accounis to guarantee compleiion of single family and
multi-family housing projects.
The Coalition has internally restricted cash for future operating
expenses associated with eight tax credit rnulti-famiiy housing
projects and forty single family fease to own homes.
The Coalition maintains separate cash accounts for the singfe
family rental [ease to own program_
The Coalition maintains separate cash accounis for USDA
loans used to fund single family mutual self-help projects.
Tt�e Coalition maintains separate cast� accounts for loans used
to fund single family and mu[ti-farnily housing projects.
The Coalition has internally restricted cash for funds designated
for scholarships to eligibie participants.
Total Restricted Cash
;' `
_�
$2,319,548 � '
�
'E�,357,672
25,006
3,806,369
'E 24,233
796,524
5,837,463
74.190
� ��
$ 14.:�40.9�,� �
�
11
�y -..
f
THE COACH�LLA VALLEY I�OUSING COALITION
AND AFFILIATES
Notes to Consolidated Financia( Statements
September 30, 20�7
NOTE D. GRANTS AND CONTRACTS RECE[VABLE
The grants and confracfs receivable balance of $6,044,336 is cornprised of the
fa�lowing:
USDA-RD Technica! Assistance �
LISC
County of Ri�e�side — Tierra Bonifa II Mutuaf Self-Help
County of Ri�erside — DPSS
Total Grants and Contracts Recei�abfe
NOTE E. DE1fELQP�R FEES RECEIVABLE
$ 5,130;195
29,372
884,629
140
. � �: .
The CoaEition has devefoper fee recei�ables from nine projecfs, fh�ee of which are in
predeveiopmenf, fi�e compfeted Qrojects, and ane project under de�elopmenf. The
baEance of $'E,273,761 is camprised of the following:
�; ', Fred Young Phase II Associates, L.P. — Vi[Ia Hermosa Apartments II
�° CoacheUa Rehab Associates, L.P. -- Coachella Community Homes
Puebla Nuevo Housing Associates, L.P. — Pueblo Nuevo Apar�ments
Peeris Family Apartments, L.P. — Perris Family Apartments
US VETS March Veterans Ullage Apartments
Paseo de los Heroes III Apartments
Fred Young Phase III —1/��fla Hermosa Apartments Phase 1[f
- Washington Street Apartmenfs
Tota[ De�efoper Fees Recei�able
NOTE F. QTHER RECEIVABLES
$ 309,696
92,216
47,463
126,919
262�500
194,967
60,000
180.000
0
Ofher recei�ables consist primarily of reimbursabfe costs paid by the Coalition on
behalf of single family and mu{ti-farnily projects. ln addition, the Coa[ition has
partnership management fee and ground lease recei�ables from various mu[ti-family
tax credit projects. The balance of $2,433,916 is comprised of the following:
r; -
Self-Helo Proiects
Tierra Bonita — Mutual Seff Help CoacheAa 70
Tierra Bonita -- Mutual Self HeEp Coachelia 71
TieRa Bonita -- Mutual Self Heip Coachella 72
TieRa Bonita — Mufual Self Help Coachella 73
Tierra Bon�ta— Mutua[ Self Help Coache[la 74
Tierra Bonifa — Mutual Self Help Coachella 75
T�erra Bonita — Mutual Self Help Coachella 76
Deser� Hot Springs — Mutual Self DHS 12
Deser� Hot Springs — Mutual Self DHS 13
$ 3,000
33, 500
144,500
'E 05,500
20,000
89,000
101,000
35,000
22, 805
12
THE COACHELLA VALLEY HOUSING COALITION
AND AFF�LIATES
�
Notes to Conso[idated Financial Statements
September 30, 2017
NOTE F. OTFiER RECElVABLES (CONTINUED)
Morningside-- Imperiaf 1
Morningside— Imperiaf 2
Morningside — lmperial 3 .
Morningside — fmperial 4
North Shore 7— Mutua� Self Hefp
North Shore 8— Mutual Self Help
Total Self Hefp Projects Receivable
Partnershin Manaaement Fees
Coyote R�n U Apartments
Oscar Vil�a Romero Apartments
Geel PEace Apartmenfs
Arroyo de Paz I Apartments
Casitas def Valle Apartment
Arroyo de Paz II Apartments
Wolff Waters Apartments
Paseo de los Heroes II Apartmenfs
Brisas de Paz Apartments
VilEa Hermosa Apartments
Coachella Rehab Associates
Pueblo N�evo Housing Associates
Perris Fami�y Apartments Associates
Total Partnership Management Fees Receivable
Manaaement Oversiaht Fees
Fred Young Labor Center Apartments
E� Solano Apartments
Las Mananitas I and [[
Pie De La Cuesta Apartments
Total Management Oversight Fees Receivable
Multi-Familv Proiects-Advances
Coachella Rehab Associates, L.P
Perris Family Apartments, L.P.
March Veterans Vllage, L.P.
57, 5DD
17,063
93,968
79,582
107,322
� � 8.896
1,D2$,636
$ 4fi,fi'E 8
33,000
23,100
1 D7, 500
1 D7,500
76,362
19,25�
'E7,000
71,25D
35,fi08
32,000
44, 000
�43.750
656,939
$ �47,500
88,300
106,520
7.500
249, $2D
— Coachella Communify Homes 9 04,179
4,680
209.965
Total Multifamiiy Projects-Advances
310, 824
T -�
'�
�
. -��
�
93
� __
,� ;
THE COACHELIA VALLEY HOUSING COAi.1TION
AND AFF1LlATES
Notes to Cor�solidated Financiaf Statements
September 30, 201 T
���
'.
� ,
NOTE F
OTHER RECEIVABLES (CONTINUED)
Multifamilv De�elooment — USDA - RD
Las Casas I Apartments
Las Casas 11 Apartments
Pie de la Cuesta Apa�tments
Desert Gardens Apariments
Fred Young Labor Center
Total Multifamify De�elopmenf Recei�ab{e
Other Multifamilv De�elovments
Rancho West� Apartments
Paseo de los Heroes
�� Solano Apartmer�ts
4,224
4,111
18,105
24, 876
21.094
72,410
9'E fi
4, 831
22. d96
27,843
�-�� -.
Total Other Multifamily Deve[opment Recei�able
Tax Creclit Develooments
Coachella Casas ]11 Associates
Mecca Housing Associates
Miles Avenue Housing Associates
Coyote Springs Housir�g Associates
Paseo de los Poetas Associates
Tfaquepaque Apartments, LLC
Cathedral Housing Associates
Las Palmeras Housing Associates
Mecca Famify Housing Associates
Harriso� Street Hous�ng Associates
Tota1 Tax Credit De�elopment Recei�able
Misce�laneous Recei�ables
Other Recei�ables — EmpEoyee benefits
Other Receivables — Facilities reimbursement
Other Receivables -- Miscellaneous
Total Miscellaneous Re�eivables
Total Other Recei�ables
1,148
5,162
1,494
12,887
3,107
2,884
6,965
984
8,944
3.809
47, 384
1,142
8,539
30.379
40.060
$ 2.4;i3.99F�
'E 4
THE COACHELLA VALLEY HOUSING COALITION
AND AFFILIATES
Notes to Consolidated �inancial Statements
September 30, 2097
NOTE G. REAL PROPERTY HELD FOR RESALE
Land acquired for resale is recorded at the [ower of cost orfair value. As of September
30, 2017, The CoacheAa Va[Eey Hausing Coalition has eight proper�ies that a�e
expected to be used in the construction and development of single famiiy homes. The
Coalition purchased fo�ty-fo�r sing[e family houses and has sold fifteen to eligible
families. There is fwenty-nine remaining houses in the lease to own program. Costs
associated with deveiopment of �nimproved land are capitalized. The $91,995',684
balance of this account is comprised of the following properties:
Nuestro Qrgu[lo — Land
Nuestro �rgu[io Subdivision - Land ]mprovements
Don English Way — Land
Don Engiish Way — Land Improvements
Saltan City — Land
Saiton Ci�jr -- Land Improvements
Thermal Villages — Land
Therma� Villages — Land Impro�ements
Morningside — Land
Morningside — Land ]mpro�ements
Deser� Hot Springs 93 -- Land
Deser� Hot Springs 93 — Land Impro►rements
North Shore 7 and 8-- Land
North Shore 7 and 8— Land ]mpro�ements
Imperial Land — Ma�eld
Various Cities -- Lease to Own Program
_�
$ 2,239,846
74�,836
676,020
203,54�
512,407
93,510
1,201,389
128,919
9,209 ,475
75,436
, 'i'85,407
69,099
123,797
134, 890
7, 823
4.405.286
Total Real Prope�ty Held for Resale � 1 �.995_�84
NOTE H. CQNSTRUCTION IN PROGRESS
As of September 30, 2097, the Coalitian is developing seven multi-famify projects. The
costs associated with land acc{uisitian and' de�elopment of these projects are
capitalized_ The $3,793,564 balance of this acco�nt consists of the following:
Paseo de los Heroes III -- Land
Paseo de ios Heroes fE[ -- CIP
Fred Young �abor Phase II — CIP
Washington Street Apar�ments
Thermal Village— CIP
Thermal V[lage� Corrirriercial
�red Young Labor Phase 111-- CfP
Middleton Rd. Oasis — C1P
App�e Va!]ey � CI P
Total Constructian in Progress
350,467
9 , 509,204
1,599,786
121,719
150,859
33, 909
'I2,481
57,$74
37.265
$ 3.793_S64
i
_�
,'��
.�
, -�.
15
THE GOACHELLA VALLEY HOUSkNG COALITION
� �
AND AFF�LIATES
Notes to Consolidated Financial 5tatements
5eptember 30, 2017
NOTE I. NOTES RECEIVABLE
The balance in this account consists of the fo�lowing:
5ecured notes and unsecured notes for 5ummer Breeze
Project. Mortgage ioans for low-income families that purchased
homes at the Summer Breeze Project. The loans were made to
assist families with the down payment and closing costs. The
notes are secured by a deed of trust and are due 30 years from
the closing date. $ 96,470
5ecured CVHC notes for .Cathedra[ City Self Heip 1V � V
Projects, Mortgage loans for low-income families that
purchased homes using the self help method in Gathedral City.
The foans were made to assist families with the down payment
and closing costs. The notes are sec�red by a deed of trust and
are due 15 years from the cfosing date. 60,500
Sec�red 00-CaE-Home-057 notes for Vecino, Nor�h Shore,
f; �, Mexicas, CoachelEa and DHS Self-Help Projects. Mortgage
�� loans for [ow-income families that purchased homes using the
self-heip method at the aforementioned projects. The loans
were made t� assist families with the down payment and closing
costs. The notes carry an �nterest rate of 3% per annum,
secured� by a deed of trust and are due 30 to 38 years from
closing date. 389,565
Secured 03-Cal-Home-039 notes for QHS, Coache[la, Mecca,
Briarbrook, and Brawley Self-Help Projecks and Mortgage Eoans
for {ow-income families that purchased t�omes using the self-
help method at the aforementioned pro}ects. The foans were
made to assist families with tt�e dovm payment and c[osing
costs. The notes carry an interest rate of 3% per annum, are
secured by a deed of trust and are due 3d to 38 years from
closing date. 374,423
Secured CVHC notes for Self He1p Veeino Project. Mortgage
loans for low-income families that purct�ased t�omes using tt�e
self help metl�od at the Vecino f Project. Tt�e [oans were made
to assist families witt� the down payment and closing costs. Tt�e
notes are secured by a deed of trust and are forgi�en at a rate
of one ffth of tt�e loan amount ai�er year ten. 29,110
r�-.
9S
THE COACHEL�A VALLEY HOUSfNG COALIT[ON
AND AFFILIATES
Notes to Consolidated Financia! Statements
September 3D, 2D17
NOTE [. NOTES RECEIVABLE (CONTINUED)
Secured CVHC notes for Briarbrook Self Help Project.
Mortgage Ioans for low-income families that purchased homes
at the Briarbroolc Project. The foans were made to assist
farnilies with the down payment and closing costs. The notes
are secured by a deed of trust and are forgiven at a rate of one
ffth of the loan amount after year ten.
Secured 06--Cal-Home-2'f 2 notes for Coachella, and fVlecca Self
Help Pro�ects. Mortgage � loans for low-income families that
purchased hornes at CoachelEa project. The loans were made
to assist famifies with down payment and closing costs. The
notes carry an interest rate of 3% per annum, are secured by a
deed of trust and are due 33 to 38 years frorn the closing date.
Secured DACE notes for Mexicas Self Help Project. Mortgage
loans for low-income families that purchase homes at the
Mexicas Project. The loans were made to assist famifies with
the down payment and closing costs. The notes are secured
by a deed of trust and are forgEven at a rate of one fifth the loan
amount after year ten. .
Secured D4Cal-Home-077 notes for Coachella, Huerta, de
Mecca and DHS. Mortgage loans for low-income families that
purchased homes using the self-help method at the
aforementioned prvjects. The loans were made to assist
farnilies with the down payment and closing costs. The notes
carry an interest rate of 3% per annum, are secured by deed of
trust and are due 33 to 38 years from c[osing date.
Secured D5-Ca[-Home-149 notes for Huer�a de Mecca.
Mortgage loans for �ow-income families that purchased homes
using the se[f-help method. The loans were made to assist
families with down payment and closing costs. The notes carry
an interest rate of 3% per annum, are secured by deed of trust
and are due 33 to 38 years from closing date.
Secured notes for low income fami�ies that purchased homes
using the self-help method. Loans were made from the Ca]-
Home reuse account. The notes carry an interest rate of 3%
per annum, are secured by deed of trust and are due 33 to 38
years from closing date.
141,000
578,9DD
38,400
360,990
438,407
140,866
�`�,
�
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r
�
- -..
, ��
�7
t:.
'� _ �
THE COACHELLA VALLEY HOUSING COALiTION
AND AFFERIATES
Notes fo Consofidated Financiai Stafemenfs
September 30, 2017
NOTE I. NOTES RECEIVABLE (CONTINUED�
Secured 10-Ca]-Hom�6627 notes for Los Jardines, Belfisima,
Tierra Bonita, and Momingside subdi�ision's. Mortgage foans
for Iaw incame families that purchased homes using the seEf-
help method. The loans were made to assist families with down
payment and closing costs. The notes are secured by a deed
of trust and it carries a simp[e interest rate of 3 percent per
annum on the unpaid principal balance, and are due 33 to 38
years from closing date.
Secured 11-Cal-Home-8077 notes for Sunset S�rings
subdivis�on. Mortgage loans far low-incame families using the
self-help method. The loans were made to assist families with
down payment and closing costs. The notes are secured by a
deed of trust and carry a simpie interest rate of 3% per annum
on the unpaid �rirtciple balance. Notes are due 33 to 38 years
from closing date.
C:" �� 5ecured CVHC notes for families participating in fhe Mutuaf Self
Help Tierra Banita I S�bdirrisian. The laans were made to assist
famifies with unforeseen construction cost o�erruns associated
with the completion of their house. Tne notes are secured by a
deed of trust, carry a simple interest rate of 1% annum on the
unpaid principal balance, and are due 33 to 38 years from
ciosing date.
Totaf Nofes Receivable
NOTE J. �OANS RECEIVABLE — LONG TERM
The Coaiition has four long term note and se�en de�elopment
fee receivables as of September 30, 2017:
Note recei�able from La Quinta Housing Associates LP for
construction costs associated witf� the de�elopment of Woiff
Waters Place apartments. Principai payments are ta be made
from residual receipts, witn tt�e final payment due on December
31, 2065.
�- •
,�
Note receivable from Desert Highlands Associates, LP for
acquisition costs reEated to tne ��rchase of a parcel of land
Eocated in Palm Springs, CA. Land was used to de�elop a 57
unit multi-family hausing development known as Rosa Gardens
Apartments. �aan will be paid from annual residua[ receipts of
the Apartments. Tne loan bears simpfe interest at the rate of
�.75% per annum.
792,700
133,900
722.255
• -:.
$29,717,835
$14,578
18
THE COACHELLA VALLEY HOUS�NG COALITION
AND AFFILIATES
Notes to Consolidated Financial Sfatements
September 30, 209 7
NOTE J. LOANS RECEIVABLE -- LONG TERM (CONTINUED)
Note recei�able from Brisas c!e Paz Associates, L.P. for
construction costs associated with the deveEopment of Brisas
de Paz apartments. Principal payments afe to be made from
residual receipts, and the outstanding principal balance is due
December 31, 2068.
Note recei�ab[e from Pueblo Nuevo Hoc�sing Associates for the
acquisition of�Pueb{o Nue�o Apartments dated April 1, 2013.
Principal payments are to be made from residual receipts, with
the outstandi�g principal bafance clue December 31, 2069.
Deferred cleveloper fees receivable from Arroyo Housing
Associates, L.P. for fees associatec! with the de�elopment of
Arroyo de Paz Apartments. Principa] balance is to be paid from
ann�al residual receipts of the apartments.
�eferred de�eloper fees recei�able from Casitas def Valie
Housing Associates, L.P. for fees associated with the
de�elopment of Casitas del Val[e Apartments. Principal
balance is to be paid from annual residual receipts of the
apartments.
Deferred developer fees recei�able. from Paseo Housing
Associates, L.P. for fees associated with the de�elopment of
Paseo de los Hereos II Apartments. Principal balance is to be
paid from annua� residua[ receipts of the apartments.
Deferred cleveloper fees recei�able from Desert Highlands
Associates, L.P. for fees associated with the de�e{opme�t of
Rosa Garclens Apartments. Principal bafance is to be paid from
ann�al residua� receipts of the apartments.
�eferred developer fees receivable from Brisas c!e Paz
Associates, L.P: for fees associated with the development of
Brisas de Paz Apartments. Principal balance is to,be paic! from
annual receipts of the apartments. .
Deferred de�eloper fees receivable from Fred Young Phase f
Associates, L.P, for fees associated with the de�elopment of
Vi[la Hermosa [ Apartments. Principal balance is to be paid from
annual receipts of the apartments.
,� ��
,
�
1,700, 000
362,940
122,608
� �_�
�
165,209
122,644
9 23,804
91,539
9 03,949
.-- ;
19
� � �,
THE COACHELIA VALLEY HOUSING COALlT{ON
AND A��ILIATES
Notes to Co�solidated Financial Statements
September 30, 2017
NOTE J. LOANS RECEIVABLE — LONG TERM (CONTINUEDI
Deferred de�eloper fees recei�able from Perris �amily
Apartments, L.P. for fees associated with Perris Famify
Apartments. Principal balance is to be paid from annual residual
receipts af the apartments.
Tatal Long Terrn Notes recei�able
NOTE K.lNVESTMENTS
297.623
�
ln�estments in Affiliates
�; �,
, _ _�
In connectian with the Coakition's de�eEopment and management af low income housing
tax credit projects, the Coaf�tion has twenty-four separate affiliated entities. The purpose
of these enti�ies is to serve as the general partners in the limited partnerships and limited
iiabilify companies the Coafition has formed rrv�th other pri�ate in�estors. These affifiates
are required ta make an initial capital contribution.and to ha�e sufficient assets to meet
the net worth requirements for carporations acting as the general partner in the limited
partnerships. The tota! amount in�ested in these parinerships by the Coalition and it's
afFliates as of September 30, 20�7 was $4,947,337.
NOTE L. PROPERTY AND EQUIPMENT,
The follov►�ng is a summary of praperty and eq�ipment at cost less accumuEated
depreciation:
�y , i
�,.
Land
Buildings, impro�ements and fxtures
Fumiture and equ�pment
Tools and construction equipment
Capitalized cost
Less: Accumulated Depreciation
Total Property and Equipment
NOTE M, OTHER LIABILITIES
The balance in this accaunt consists of the following:
Accrued Construction Liabiiify
Self-Help Groups
Other
Tota� Other Liabilities
$ 5,847,539
76,706,220
2,207,652
12,138
993,840
85,767,389
i49.653.846)
�,3fi.'[ 13_543
$ 9,187,791
796, 524
126.205
� ?, 9 � 0,�2D
20
THE COACHELLA VALLEY HOUSENG COALITION
AND AFFlLIATES
Notes fo Conso[idated Financiaf Statements
September 30, 2017
NOTE N. LONG-TERM DEB7
Long-term debt� at September 30, 2017 is�summarized as fo�lows:
Loan Payabfe to State of California Department of Housing and
Community De�elopment dated May 17, 2006. �unds are to be
used fo faci[itate the de�elopment of Self-Help housing in the
City of Mecca Ca. Loan bears no interest and is due on
December 30, 2017.
Loan Payable to Rabobank dafed No�ember 28, 2012. Funds
are to be used to fund affordable housing development
acfi�ities. Loan bears interest at 3.5%, requires q�arterly
payments of accrued interest, and is due No�ember 28, 2017.
Loan Payable to State of California Department of Housing and
Community De�elopment dated December 5, 2007. �unds are
to be used to facilitate the de�elopment of Self-Help housing in
Salton City, Ca, and con�erts to indi�idual subsidies for
participating ]ow-income families upon� occupation of completed
homes.
Note Payable to BBVA ComAass Bank dated May 23, 2008.
Note requires semi-annual interest payments on the
outstanding balance, bears interest at 2%, and is due on May
23, 2018. �
Loan payable to The Congregation of the Sisters of Charity of
the Encarnate Word dated August 23, 2017. Funds are to be
used to facilitate the construction of singie family housing. Loan
bears interest at 1% and is due August 23, 2020.
Loan payable to County of Riverside Housing Opportuni�ies for
Persons With Aids for the purchase of land in Cathedra) City,
where The Coachella Va[ley Housing Coalition constructed 38
units of permanent low income housing. This loan bears no
interes�. Loan is secured by deed of trust on land. Loan is due
on August 9, 2038.
Loan Payable to U.S. Bank Nationa! Association dated ,�uly 9,
2013. Funds are earmarked for the de�elopment of low-income
single and multi-famiiy de�elopment. Loan bears a simple
interest rate of 3%, and the outstanding loan balance plus
accrued interest is due on July 8, 2018.
.�� ���
3, 500, 000
�:1 111'
900,000
t�� ���
282,250
9 ,000, 000
.-`�
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;'
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2�
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�� ,
THE COACHELLA VALLEY HOUSING COAL1T10N
AND AFFILIATES
Notes to Consolidated Financial S#atements
5eptember 30, 20?7
N4TE N
LONG-TERM nEBT fCONTINUED)
Loan payable to the Erich 8� Hannah 5achs �oundation dated
September 4, 2009. Funds are to be used to facilitate the
development of }ow income housing using the self-help method.
Loan bears simple interest af 2.5% per annum and is due
October 22, 2Q19.
Loan payable to Weffs Fargo Bank dated September 9, 2014.
Loan is for creating or preservation of affordable housing
earmarked for low and moderat�income residents in #argeted
rede�elopment areas. Loan bears interest at 2°Jo with accrued
interest due quarterly. Loan is payab[e on 5eptember 9, 2018.
Note payable to Rabobank dated December 13, 2006, secured
by a deed of trust, and payable in mon#hfy installments of $6,496
beginn9ng on January 15, 2�07. Loan bears interest at 5.5% and
rr�atures on December 15, 2031.
�, y` Note payable to the County of Ri�erside Rede�elopment
'-- Agency dated June �, 2a07 to he�p finance the acquisition and
pre-development costs of the Nuestro Qrgullo subdi�ision irt
Mecca, CA. The note bears no interest and is payab�e on the
earliest af the date #he properly is so�d or refinanced, or by an
� event of default by the borrower.
Loan payabfe to the California Endowment in the amo�nt of
$750,000 dated March 10, 20�1 for pre-develapment costs and
GAP ftnancing of fow-income housing prajects. The note bears
a fixed sirnple rate interest of 2%, requires an annua] payment
of $150,000, with the f�nal payment and any unpaid interest due
March 10, 2022. �
Note payable to First Bank dated January 8, 2015 for
$2,�00,000, of which $1,350,000 was outstanding on
September 30, 2017. Note requires montf�[y interest payments
based on the Wafl 5treet Journa! U.S. Prime Rate less 0.5%.
The a�tstanding principal balance rs due January 1, 2020.
�� " ,
1��. _
Las Casas [ Apartments
Mortgage payable to United 5tates Department of Agriculture
Rurai De�eEopme�t, dated October i, 1987 payable in monthly
installments of $4,427. The loa� is secured by the land and
bu�[ding, is payable in 33 years, and bears an interest rate of
1.0%-
300, 000
� , 500,000
755,643
1,500,000
.�� ���
� , 350, 000
97,2D5
22
THE COACHE�LA VA�LEY WQUSING COALITION
AND AFFfLlATES
Notes to Consolidated Financial Statements
September 30, 2017
NOTE N. LONG-TERM DEBT (CONTINUED)
Las Casas 1 Apartments
Mortgage payable to United States Departmenf of Agriculture
Rural Deveiopment, dated October 1, 1987 payabie in monthly
installments of $1,281. The foan is secured by the land and
building, is payab�e in 33 years, and bears an interest.rate of
1.0%.
�oan payable to the United States Department of Agriculture
Rural Development, dated March 5, 2004, payable in monthly
installments of $744. The loan is secured by the [and and
building, is payabfe in 30 years, and bears interest at 1.0%.
Las Casas �� AQartments
Mortgage payable fo United States Department of Agric�ilture
Rural Development, dated October 8, 1991 payable in monthEy
insiallments. of $7,453. The loan is secured by fhe land and
building, is payable in 33 years, and bears an interest rate of
1.0%.
Mortgage payabEe to Uniied States Department of Agriculture
Rural Developmenf, dated October 8, 1991 payable in monthly
installments of $702. The loan is secured by the land and
building, is payable in 33 years, .and bears an inferest rate of
1.0%.
�as Casas II Anartments
Mortgage payable to United States Department of Agriculture
Rural Development, dated March 5, 2004, payable in monthly
installments of $744. The loan is secured by the larid and
building, is payable in 33 years and bears interest at 1.0%.
Pie De La Cuesta Apartments �
Mortgage payable to Un�ted States Department of Agricu]ture
Rurai Development, dated April 17, 1991 payable in monthly
installments of $6,253. The loan is sec�red by the fand and
building, is payable in 33 years, and bears an interest rate of
1.0%.
31,148
156,221
518,465
49,019
156,292
429,614
,
; -1,
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�
�
�4, �
23
�r�__�
THE COACHELLA VALLEY HOUSING COALITION
AND AFFf LEATES
Notes to Consolidated Financial Statements
September 30, 20�7
NOTE N. LONG-TERM DEBT (CONTINUE�}
Pie De La Cuesta Avartments (Continued)
Mortgage payab[e to United States Depar�ment of Agriculture
Rural �evelopment, dated March '{5, 2004 payable in monthfy
instaElments of $447. The loan is secured by the land and
building, is payable in 33 years, and bears an interest rate of
1.0 %.
Mortgage payable to United States Department of Agriculture
Rural ❑e�elopment, dated ApriE 17, 1991 payable in monthly
instaAments of $2,038. This loan is secured by the {and and
building, is payable in 33 years, and bears an interest rate of
�.Q%.
Desert Gardens A�artments
Mortgage payable to United States Department of Agriculture
'"� Rural Development, dated June 7, '{ 996, payabfe in monthly
�' �
�, instal[ments of $'lfi,234. The loan is secured by the land and
building, is payable in 33 years and bears interest at 1.0%.
Mortgage payable to County of Riverside Community
De�eEopment Biock Grant (CDBG) Program, dated December 3,
1996, payable in one payment consistiRg of principai and interest
of $fifi5,000 on October '{, 2029. The loan is secured by the land
and buiiding.
Mortgage payable to 5tate of Califomia Depar�ment of Housing
and Community Development, dated January 6, 1997, payable
in one payment consisting of principal and interest of
$'l,9D8,OOD on No�ember 30, 2053. The ioan is secured by the
land and building is payable in 55 years and bears an interest
rate of 3.0%_ �
Fred Youna Labor Center
Mortgage payable to The United States Department of
Agricu[ture Rural Development, dated January '{989, payable in
monthly installments of $7,463_ The loan is secured by the land
and bu�lding, is payable in 33 years and bears interest at
1.0°/v
Mortgage payable to United States Department of Agriculture
�`-�� Rural Development, dated January '{ 989, payable En monthly
;, instal[ments of $5,858. Loan is secured by the land and building,
��� is payable in 33 years and bears interest at �.0%.
93,732
'� 43, 979
2,329,690
vOD,000
7za,aoo
371,224
268,286
24
THE COACHELLA VALLEY HOUSING COALITION
AND AFFILIATES
Notes to Consolidated �inancial Statements
September 30, 2017
NOTE N. LONG-TERM DEBT (CONTINUED)
Fred Youna Labor Center (Continued}
Mortgage payable to United States Depar#ment of Agriculture
Rural De�elopment, dated May 2008, payabfe in monthly
installments of $2,977. Loa� is secured by the land and building,
is payable in 33 years, and bears an interest rate of
T.a��o.
Mortgage payable to United States Department of Agricu�ture
Rural De�elopment, dated October 2002, payable in monthly
installments of $2,977. Loan is secured by the land a�d'building,
is payable in 33 years, and bears an interest rate of
1.0%.
Paseo De Los Heroes
Promissory note dated, December 19, 2003 payable to the
Rural Community Assistance Corporation. The nofe is payabfe
in monthly instalfinents of $5,653 and is d�e on February 1,
2029. The note is secured by the deed of tr�st and bears
interest at 1.0%.
Promissory �ote dated, August 2, 2004, payable to Citibank
{West). The note bears no interest requires no mbnthly
payments, and is due on August 2, 2019. Nate is secured by the
deed of trust.
Las Casas III
Note Payable to the State of California Department of Housing
and Community De�eEopment dated Jan�ary 5, 1993. Note in
the original amount $1,587,575 bears interest at 3% annually.
The outstanding bafance includes interest payable of
$1,11 T,829. The note, plus accrued interest, is due in January
2047. �
Nueva Vista
The f[rst note is held by the State of Cafifornia Department of
Housing and Commu�ity de�elopment (93-FHDP-OT4) in the
original amount of $1,348,188 on No�ember 15, 1995. The nate
bears inkerest at 3% per annum due March 31, 2035. lnterest
only, is d�e to the exfent of available net cash flow, as defined' in
the loan agreement, coliateralized by the �a[ue of the real estate.
I�terest of $882,803 has been accrued as of September 30,
2014. �
745,378
588,436
731,611
235,000
2,699,404
2,230,991
��`•
,
�
. `;
�
,�- ,
%,
25
�,,--�
THE COACHELLA VALLEY HOUSING COALETION
AND AFFILIATES
Notes to Consolidated Financial Statements
Septemher 30, 2017
�'
NOT� N
LONG-TERM DEBT �CONT[NUEDI
1,012,493
326,873
7,834,279
�' - `
La Hacienda
The first and only note is held by the County of Rive�side in the
original amount of $1,012,493 on December 20, 1994. The note
bears interest at 0% per annum and is due May 2024. Payment
of principal deferred unt�l May 2024,
Covote Run
Note payable to Berkadia Commercial Mor�gage dated
September 1, 9993. Note is secured by the property, requires
monthly payments of $5,37A�, bears a simple interest rate of
4.5%, and matures on August �, 2023.
Note payable to State of California Rental Housing Construction
Program for $4,538,602. Note is sec�red by the property, bears
a interest rate of 3.0% {simple) per annum, and req�ires interest
onfy payments based on residual cash receipts. The
outstanding principal and accrued interest of $3,295,677 is due
an .luly 1, 2043.
Paseo de los Poetas
First note payahle to Couniy of Riverside dated May 21, 1996.
The note requires no month[y payments, bears interest at 0%,
and matures an May 21, 2026.
Second note payable ta Chase Bank dated November 95, 1998.
Note bears interest of 8.3°,6, requires rr�onthly payments af
$1,233, and matures on November 15, 2028. Note is secured
by real properky.
Third note payable to Chase Bank dated November 15, 1998.
Note requires no monthly payments, bears interest at 0%, and
matures on Navember 15, 2028.
Tlaauepaque
First mortgage note �ayabfe to Pactfic Life BanEc dated
September 30, 9 994. Note bears interest of 5.48%, requires
monthly payments o� $4,149, and matures on October 1, 2024.
Note is secured by the propert}r.
543, 000
107,445
�o�,00a
299 ,705
26
THE COACHELLA VALLEY HOUSING COALITION
AND AFFILIATES
Notes to Consolidated Financial Staterrients
September 30, 2D17
NOTE N, LONG-T�RNi D�BT (CONTINUED�
Tlaaueoaaue (Continued)
Second note payable to the State of Caiifornia Department of
Housing and Community De�elopment Rental Housing
Construction Program for $2,D52,764 dated September 22,
1992. Note bears interest at 3% simple interest with the interest
portion payabie from excess cash generated from operations.
The outstanding principle and accrued interest of�$1,483,570 is
d�e June 10, 2049. Note is secured by the property.
Casa San Mia�el de Allende
�oan payable to the County of Ri�erside dated January 5, 1998.
�oan bears no interest, requires no monthfy payments, and the
outstanding ba�ance is due January 5, 2038. Note is secured by
first deed of trust.
Loan payable to the City of Cathedral City dated Jufy 31, 1997.
Loan bears no interest, requires no monthly payments and the
outstanding principal baEance is due July 31, 2037. Note is
secured by a second deed of tr�st.
Loan payable to the City of Cathedral City dated July 23, � 998.
Loan bears no interest, requires no monthly payments, and the
o�tstanding principal balance is due ,]u[y 23, 2038. Note is
secured by a deed of trust.
Note payable to Hemet Federal Sa�ings Bank. Note bears no
interest and requires continuing compliance reguirement of
pro�iding low income housing.
Note payable to the County of Ri�erSide. Note bears no interest
and requires continuing compliance requirements of Pro�iding
low income housing.
Las Palmeras
First note payable to Bank of America dated Juiy 1, 2009. Note
bears interest at 8.25%, requires monthly payments of $4,415,
and matures on April 1, 202fi. Note is secured by the property.
Second note payable to the County of Ri►rerside dated April 4,
1999. Note bears zero interest, requires no monthfy payments,
and matures on March 31, 2039. Note is secured by the •
property.
, . -.
��
3,536,334
550,OOD
f. `.
�
500,000
26, 800
175,5DD
214,789
331,572
850,OOD �
.�
27
��� _
.�
Sepfember 30, 2017
Las Palmeras {Continued)
THE COACHELLA VALLEY HOUSWG COAL[TION
AND AFFILIATES
Notes to Consolidated Financial Statemenfs
NOTE N. LONG-TERM DEBT (CONTINUEDI
Third note payable to Bank of America dafed January '[9, 2000.
Note bears zero interest, requires no monthEy paymenfs, and is
due January 19, 2031. Note is secured by rea! prope�ty.
Fourth note payable to California Housing Finance Authority
dated August 20, 2001. Note bears zero interest, requires no
monthly payments, and matures on August 20, 2056.
393,728
� 83,923
Chapuiteqec
� � - �,
Note payable to United States Depar�ment of Agriculture Rural
De�elopment for $500,000 dated January 30, 2003, payable in
monthly installments of $�,061. The foan is secured by the land
and building, matures on January 30, 2033, and bears an
interest rate of i.0%.
Note payabfe to County of Ri�erside dated July 9, 2001. The
note requ�res no monthfy payments, bears interest at 0%, and
matures on July 1, 2056.
Note payable to Cafifomia Housing Finance Authorify dated May
�, 2003. Note bears zero interest, requires no monthly payments,
and matures on May �, 2058.
463,383
:�� ���
105,951
Fuente de Paz
��
Note payable to California departrnent of Housing & Comm�nity
De�elopment for $500,000 dated June �2, 2001. The note bears
interest at 3% per annum and matures June 12, 203i. Principal
payment and accrued interest of $130,069 is deferred and
requires interest only payments based on residua! receipts.
Note payable to Hemet Federal Sa�ing Bank Affordab{e
Housing Program {AHP) dated March 6, 2009. The note bears
interest at 0% and matures on March 6, 203'[.
Note payab[e to Cali#ornia Housing Finance Authority dated May
i, 2002. Note bears zero interest, requires no monthly payments,
and matures on May 1, 2057.
630,069
� 85,000
124, 359
28
THE COACHELLA VALLEY HOUSING COALITION
AND AFFILIATES
Notes to Consolidated Financial Statements
September 30, 2017
NOTE N. LONG-TERM DEBT (CONTINUED)
F�ente de Paz (Continued)
GrantlLien agreement payabfe to United States Department of
AgricuEture Rural Development Section 516 dated September
27, 2000. The lien requires no interest or principaf payments.
Total Long-Term Debt
Less: Unamortized Debt Issuar�ce Costs
Less: Current Portion of Long-Term Debt
Tota[ Long Term Debt
7aa.00a
45,355,711
(46,2Q9)
(3.627.151)
� 41.682,�
Long-term debt repayments due in each oF the next five fiscal years are:
2018
2019
2Q2Q
2Q21
2a22
Thereafter
NOTE O. DEFERRED REVENUE-LONG TERM
Lor�g-term deferred revenue consists of the following:
Deferred notes — sing�e family ho�sing
Deferred developer fees
Total Long-Term Deferred Revenue
NOTE P. TEMPORARILY RESTRICTED NET ASSETS
$ 3,514,731
1. Q27.368
$ 4.542.099
Temporarify restricted net assets at September 3Q, 2Q17 were available for the
following purposes:
USDA — RD Technica! Assistance Grant — Self Help
CA DHCD — CalHome Grant Subsidy Loans — Single Family
CA DHCD — CalHome Reuse Grant Subsidy Loans -- Single Fami[y
USDA -- RD Fred Young Rehabilitation
Rural LISC
Community Services Program Grants
Housing Counseling Program Grants
Riverside Co�nty EDA
Neighborworks America
Total Temporarily Restricted Net Assets
$ 3,627,151
4,7.70,563
5, 522,152
1, 007,299
875,937
29.552.609
$ 45.355 711
$ 5,117,4Q4
180,048
217,199
2,242,929
18, 875
103,136
5,000
563,191
75.000
: :
' ��
>�
i' '
�
��'7
�-,; - ,;
7HE COACHELLA VALLEY HOU5ING COALIT��N
AND AFFILIATES
Notes to Consolidate� Financial Statements
September 30, 2017
TEMPORARILY RESTRIC7ED NET ASSE7S
NOTE P
Net assets were released irom donor restrictions by incurring expenses satisfying the
p�rpose or time restriction specified by the donor as foflows:
USDA — RD 7echnical Assistance Grant — Self Help
CA DHCD -- CalHome Grant Subsidy Loans — Single Family
Commun9ty Services Program Grants
Housing Counseli�g Program Grants
Neighborworks America
Rural �1SC
7otal Refeased from Temporarify Restricted Net Assets
NOTE Q. PERMANENTLY RESTRICTED NET ASSETS
Permanen�ly Restricted Net Assets consist of capitaE grants received from
Neighborworks America to in�est in perpetuity capital grant funds which are used to
support affordable housing derreiopment and other actirrities related to housing
�;�� ` projects. As of September 30, 2017, these grants harre been in�ested as follows:
Capitaf Grants — Sing[e and Muitifamily Development $ 896.504
� 896 5d4
During the year ended September 30, 2017 Neighbonrvar[cs America authorized the
Coafition to use a portion of the permanentfy restricted net assets to subsidize certain
housing projects, and commun�ty services programs. The funds released were as
follows:
Capital Grant Con�ersian 2D�7
��
� �
Total Released from Permanently Restricted Net Assets
NOTE R. EQUITY TRANSFER
$ � ,134,313
39, 9 50
39, 799
5, 000
27, 895
74.900
� 1.321.Q�7
$ 384.2�6
$ 384,21�
During the year ending September 30, 2D17, the Coafition acquired two multi-family
low income housing projects limited partner interest:
Limited partner interest the CaEifomia Limited Partnership Mecca Housing Assaciates,
L.P. which owns and operates the Chapu[tepec Apartments. The Coalition has
secured 100% �nteresi in this entity. The partnership was created to pro�ide affordab(e
housing under the Low fncome Housing Tax Credit Program (LIHTC}. 7he �imited
partner's �nterest was transferrecf to the Coalition without any consideration. This
transfer of ownership resulted in a combined net equity transfer af $1,116,620. The
folfowing is tf�e fair �alue of the assets and liabi[ities acquired by the Coalition on the
date of transfer, January 1, 2017:
��
THE COACHE�LA VA�LEY HOUSiNG COAL1710N
AND AFFI�IATES
Notes to Consolidated Financial Statements
September 30, 20'{7
NOTE R.. EQUITY TRANSFER (CONTINUEDI
Working Capital
Cash Reserve
Accounts Recei�ab{e
Deposits & Prepaids
Long-Term Assets
Accounts Payable
Accrued Liabilities
Security Deposits
Deferred Re�en�e
Long-Term �iabilities
Equity Transfer
$ 58,209
44'1,786
9,282
23,266
9,995,640
(9,274}
('{2,500}
(� 4,'! 06)
(3, 936)
(1.37� .747)
1.116.620
Limited partner interest the Ca[i�ornia limited Partnership Harrison Street Ho�sing
Associates, L.P. which owns and operates the Fuente de Paz Apa�tments. The
Coalition has secured 100% interest in this entify. The partnership was created to
pro�ide affordable ho�sing under the Low �ncome Housing Tax Credit Program
(Lf HTC). The fimited pa�tne�s interest was transferred to the Coalition without any
considerat�on. This transfer of ownership resulted in a combined net equity transfer of
$895,018. 7he following is the fair �alue of the assets and fiabilities acquired by the
Coa[ition on the date of transfer, Ju[y 9, 2017:
WorEcing Capital
Cash Reserve
Accounts Recei�able
Deposits & Prepaids
Security Deposits
Long-Term. Assets
Accounts Payab�e
Accrued Liab�lities
Securify Deposits
Deferred Re�enue
Long-Term Liabilities
Equity Transfer
Tota[ Equity Transfer
$ 53,689
363,512
2,347
4,010
17,024
2,165,277
(16,216}
(39,918}
(16,611}
�(2,417}
('1.635.679)
895.018
$ 2.011,63fi
No adjustments were �equired to the accounting policies of the partnerships to conform
to GAAP. 7he consolidation of the partnerships into the Coalition's financial
statements eliminates $39,689 of recei�ables and liabilities and $24,500 of re�enues
and expenses, which are included in the amounts of intra-entity transactions
eliminated on the consolidated financial statements.
,'- 1
�
,' �
�
1
3�
�f" �
, �.
THE COACHELLA VALLEY HOUSiNG COALITION
AND AFFILfATES
Notes to Consolidated Financial Statements
September 30, 20'I7
NOTE S. GRANTS
For the year ended September 30, 2D17, NeighborWorlcs America awarded the
Coalition $378,333 in expendable grants. In addition, the Coalition recei�ed grants
and loans from �arious federal agencies that were used to support the Coalition's
programs. All of the federal grants expended by the Coalition for the year ended
Sepfember 30, 2D97 are listed on the Schedule of Expenditures of Federal Awards.
NOT� T. FIDELITY COVERAGE
The Coafition has fdelity bond co�erage insurance in the amount of $3,000,000 and
is in compliance with the insurance requirements of NeighborWorks America and the
U.S. Department of Agricuiture Rural De�elopment.
� --,
,
NOTE U. CASH RISK CONCENTRATEON
The Coalition maintains checking and savings accounts for operations with se�eral
financial instifutions. The Federa[ Deposit Insurance Corporation (FDIC) insures
deposits up fo $250,DD0. At September 30, 2017, the Coalition's uninsured cash
balance totaled $'I'I,726,875.
NOTE V. RET[REM�NT PLAN AND TRUST
On May �, 2D�5, the coalition adopted a 4D�(k) profrt sharing plan. Each e[igible
empfoyee may elect to participate through a salary reduction agreement, and each
e�igible employee receives a 3% empioyer contr�bution plus an additional .05%-2%
contribution based on years of service. For fhe year ended September 30, 2D'I7,
employer cantribution expense to this pfan was $95,333.
NOT� W. COMMITMENTS AND CONTINGENCIES
Limited Partnership OperatinQ Deficif G�arantees
The Coa[ition, as the sponsar agency for its low income housing tax credit projects,
has fhe responsibility to caver a certain amaunt of fhe operating deficits incurred by
any of the limited partnerships in which the Coa[ition's affiliates are involved. As a
result, the Coafition has signed operating deficit guarantee agreements wifh two of its
affiliates involved in these pro�ects. The maximum amounts the Coa�ition is obiigated
to advance under these agreements are as folEows:
a) Brisas De Paz Associates, LP in the maximum amounf of $2D4,OOD fo cover
operating deficit and debf service for up to five years after achievement of
breakeven operafions.
� -1
b) Fred Young Phase I Associates, LP in the maxim�m amount of $500,000 to cover
operating defcit and debt service for up to three years after achievemenf of
breake�en aperations.
32
THE COACHELLA VALLEY HOUSING COALITION
AND AFFiLIATES � �•� �� `
Notes to Consolidated Financial Statements �.
September 30, 2097
NOTE W. COMMITMENTS AND CONTINGENCIES (CONTINUEDI
Federal and State Grants
The Coaiition receirres grants and loa� guarantees to operate its �arious programs:
The administration and use of fu�ds under these programs are subject to the rules and
regulations set forth by the grantor agencies.
Proaram Fundinq
Continuing program funding is contingent upon a�ailability of funds from federal, state
and county sources and project perFormance. The funds are awarded upon receipt
and approval of program applications.
NOTE X. PRIOR YEAR SUMMARIZED INFORMATION
The financial stateme�ts incfude certain prior year summarized comparati�e
information in total but not by net assets class. Such information does not include
s�fficienf detail to constitute a prese�tation in conformity with generally accepted
accounting principles. Accordingly, such information should be read in conjunction ,°�
with the Organizations' financial statements for the year ended September 30, 2016, ., `
from which the summarized information was derirred. �—
NOTE Y. ADOPTION OF ASU 20� 5-03
For the year ended September 30, 2017, fhe Coa�ition adopted ASU 2015-03. This
new accounting sta�dard requires prepaid loan issuance costs to be reported as a
reduction of the long-term. debt liabifity reported on the sfatement of financiaf position.
ASU 20�5-03 also requires the application of this new standard on a retrospective
basis. The net effect of fhis change on the 2016 financiaf statements resulfed in �
decrease of fotal assets and long-term debt liability of $47,7�7.
NOTE Z. SUPPLEMEN7AL DISCLOSURE OF CASH FLOW 1NFORMATION
For fhe year ended September 30, 20� 7, interesf expense paid by the coalition tota�ed
$311,1�3.
NOTE AA. SUBSEQUENT EVENTS
�or the year e�ded September 30, 2017, the Coalition has e�aluated subsequent
e�ents for potenfiaf recognition and disclosure through February 7, 2018, the dafe of
financia[ statement issuance.
,--�
}
33
�1% � '•"�
� �
��\ i
SUPPLEMENTARY FINANCIAL f NFOR[1�ATION
�,� � .
,*
34
THE COACHELLA VA�LEY HOLlS[NG COALITION
AND AFFILIATES
Combining Statement of Financial Posifion
Sepfember 30, 2097
CLIRRENT ASSETS
Cash
Grants Receirdble
beveloper Fees Receivable
Other Rer2ivables
Real ?roperty HeJd for Aesaie
Prepaids
�epo9iis
TOTALGURRENTASSETS
MON�CURRENT AS5ET5
ResLicted Cash
Notes Rereivahle
Construction in Progress - MF
Long Term Investments - R�iliafes
Long Term Receivables- MF
Pmperty, Plant and Equipment - Net
TOTAL NON�URREHT ASSETS
TOTALASSETS
LIABILIT[E5 AN� NET ASSETS:
CURRENT LIABILlTIES
Accounts ?ayable
Arrlued Liahilifies
Current porlion long-term debF
�eposits Payable
Other Liabilities
�eferred Revenue
T6TAL GURRENT LIAB[LITIES
NON�Cl1RREHT LIABIL]T1E5
Long Term �ebt
�efered Revenue - Long Term Notes
Total Nan�urrent Lla6ilities
TpTAL LIABIL[TIE5 .
C6MMITMENTS AND GOHTIIlGEi1qE5:
HET ASSETS
UnreslricSed
7emporaridy restricled
Permanently Restocied
TOTAL N ET ASSPTS
'70TAL LIABIL[TIES AND NET ASSETS
Caachella
Va]ley hIIULT[FAMILY PROJECTS
Housing LAS CRSRS LAS CASAS p]E p� LA
Goalitian [ I[ Gl1E5TA
5 12,778,782 5 126,703 $ 122,637 3 99,082 S
8�044�33('' - - -
1,273,7fi9 - - -
3,259,406 4,224 4,911 9B,1Q5
i1,995,684 - _ _
1,411 8,279 i2,418 'IB,47Z
1i,313 37,078 5A,43i 5�,416
35,364,693 t76,284 993,597 186,075
6,857,336 469,349 536,383 364,460
a2s�,aes - - -
3,793,564 - - -
6�S6,BU3 - - -
33,964,871 - _ _
2,092,779 827,372 1,S1D,603 3,368,BQ2
57,202,939 i,396,691 2,076,986 4,733,262
; 9Z,567,632 S 1,572,975 ; 2,270,583 $ .i,919,337 $
S 535,100 $ 70,096 S 13,510 S 14,264 $
267,535 3,044 4,Sfi6 10,928
2,786,990 74,584 89,553 88,185
31,912 30,953 44,179 40,759
2,1i0,520 - _ _
167,8Q0 • - -
916,tB4 17,185 20,310 'i8,00'!
6,016,037 135,072 182,118 183,537'
1i,096,620 249,990 624,'I43 569,140
4�512.099 - - -
15,63B,71B 209,890 624,143 589,140
27,654,756 345.062 806,267 752,277
UE5ERT
GARDEHS
131,329
24,876
15,455
7U.46fi
242,126
587,274
3,073,08i
3,66p,355
3,902,-081
21,709
4,595
171,508
55,276
1U,878
263,968 .
3,378,182
3,378,182
3,G42,95p
67,493,580 1,227,913 '�,464,322 1,167,060 264,331
8.522,782 - _ - -
896�544 - - - -
70,912,876 1,227,813 1,4fi4,322 1,167,Ofi0 260,331
$ 82,667,632 S 9,572,975 S 2,27�,683 # Z,419,337 S 3,902,481
���
.�
, �i
� �
! `�' �
��
35
�- �
�� ���
FREp YDUNG RANCHO PASED dE EL
LABORCEHTER 4NEST LOSF[EROES SOV4H0 TOTAL
Schedule 1
G
S 168,513 $ 9B4,362 S 185,85� i fi4,233 S 14,657,491
- - - - 6,R44,336
- - ' - 1,273,761
21,OA4 99fi 4,83f 72,096 3,359,659
- - - - 11,995.fiB4
26,773 24,714 1,740 1,976 1�2,�38
106.a06 t18,975 15,200 1��70 �77,155
322,386 1,124,967 20fi�621 1�5,775 37,426,524
362,112 94�,635 350,354 G2,683 50,534,555
- - - - 4r297�486
- - - - 3,783,564
' - - - A,256�9R1
' - - - 33,904,971
2,a57,051 1254.157 � 1,819,788 9,333,122 15.866,715
2$98,163 2,196,752 2,77Q142 ta95,805 74,65[,095
�
S 3,141,549 $ J,32S,718 s 2,976,7fi3 S 1,499,3AO $ i12,574,618
$ 14,538 5 79,fi45 i 59,965 S 10,570 S 668a97
55,4d6 9,5[� 3,859 $9,81i 4�9,427
217,563 - 6U,799 - 3,503,18A
79,553 66,739 6,2Ua 11,731 386,504
- - - - Z710,32U
• - - - 167,800
i,930 19,14b 9,551 1,906 20T,177
363,036 144,059 92,474 153,518 7,493,013
5,761,755 - 905,812 • 18,545,642
- - - - 4,542,04y
1.761,755 - 865,812 - 2;,087.741
2,124,781 741.0.53 998�86 i73,118 3U,5BU,754
t,016,758 3,f78,666 7,378,477 1,3�6,462 72,5T4,579
- - - - 9,522,762
- - - - 89fi,504
1,016,758 3,17B,fi66 1,378,477 S,3B6,�62 6t,9B3,Bfi5
� 3,14i,549 S 3,32S,7f9 S 2,376,763 S 1,499,580 ;�12,574�619
�7
a
36
m
THE COACHELCA VALLEY HOUSING COALETION
AND AFFILIATES
Combining Statement of Acti�ities
Year Ended September 30, 2097
UHRESIRICTEb NET�A56ET5
Suppart
REnlal intome
Cartvnereial inwme
Interesl inmme
Granls E mnVaras
�evefoperfees
Mukifamily prujecl inmme
SeIF-Help projacu inrame
Gain on IrneslmenLs - AKGalee
Other Revenue
Nd Atsels releesed fiom festrictiqq
Restri�lions sa55fied 6y puovision at scrvi<xs-yrants
Restrictions sa5sfied tr�r pmvision otswirisrap'rta1 grants
To1a] UmesVicSzd Revenue and Net Nsets
Released from Reshidions
E�rtses
Personnel
Contrar�ual
SuppGes
Travel
CammunicaGan
Mainienanrr. and operating
Space Cns1S
Other wsts
Intaest E�msr
AAullifanvy projecis
Self Help profects
�pitaf e�ndihires
Oermeaation
Tatal E�ense�
EYCEss (�EFlCITJ OF REVEli]lE OVER E1fPEN5E5
OTFIER CNANGES
GA[N ON FORGIVENESS OF DE9T
IHCREASE (DECRFJ�SEi [N UNRE57R1CTEO NET f�SSETS
TEMPORARILY RESTRICTEp NEf ASSEfS
Federal, SSate, andlocal granls
NelAssets released-d�sencumbered-grants
Nel Asseis �e3eased - eame6 grants
INCREASE (�EtREtSEJ [H TEMPORAH[LY
RESiW CTE� NET ASSETS
PERhtAP1ENTLY RESTAICTED HET A99ET5
Conlri6Wions
ReSeese from Regtrin[pits - GrdnLa
{NCREASE {DECRFASE) IN PEHI.SANENTLY
RESTR4CTER HET ASSEfS
IHCREAuE �DECREASEj 1N p[ET /155ET5
NET.4SSET9 AT 9EG[HNING OF YEAR
Equ3fy innslers
NEi ASSETS A7 END OF PERIDD
Coachdla
Valky MULTIFAMILY AR0.[ECTS
Housin0 LAS CASAS L45 CA5A5 PIE OE LA �ESERi
Caalition I I1 Cl1ESTA GAR�PN5
S 450,237 S 499,089 S 5fi6,B96 S 510,654 S 715,370
- 2a,483 '38,665 16,9B9 22,755
67,33i 1,935 $,367 1,894 3,10fi
2,N6,B44 - - . '
1,037,990 - - - • -
530,998 - _ _ _
807,639 - . ' . _
3t,013 - - ., - -
47�79 6,�00 - 6,000 6,125
5,083,575 4]6,507 6D7,92B 535,542 7q7,33G
7,371,057 - ' - '
98S,2i6 - - ' '
6,788,844 43fi,567 607,928 533,$42 ' 747,53fi
3,i6fi,643 94,6fi7 i42,061 97,384 126,294
676,373 ' S0,274 75,580 65,239 79,183
fi4,056 3,83� �,697 5,797 5,931
102,372 ' ' ' '
�0,389 2,578 3,746 3,3f� 3,727
- 49,567 53,1i2 88,34fi 78,792
11S,7B5 69,825 126,077 88,553 736,108
436,400 76,681 24,507 2B4OOB 24,731
205,528 3,249 7,775 7,204 2�,224
is�.6as • - - -
7,075,808 - - - �
2a,000 �3,557 116,130 75,497 7�,858
28,757 83,771 147,198 129,SZ5 175,859
6,976,116 4i7,84p 697,487 SS0,076 729,6p7
662.72b - 19.667 - (89,553J (54,334) - 17,929
{1.8G6j ' ' ' '
666,662 18,667 (89,553) {54,534) 17,929
5,931.188 - ' ' -
(3,687,4l16)
(1,321,05� ' . - ' -
922.731 ' ' ' "
(364�16j ' ' ' '
(384�16) - • ' '
1,78B,7T7 18,6fi7 (89,553) (54,53�) 17,929
69,509,999 1,2a9,2�6 1,553,875 7,224�,594 242,1-02
203,5Q0 - _ _ _
� 70,912,876 S 7,227,91] y 1,46<,322 S 1�161,G60 s 280,731
p. .
.}
�
�
�
� �/
37
r.= -
r'
FREO YOUNG RANGHO PASEO �E EL
LABORCEHTER WE57 LOSHEROES S6LAH0 'fpYpt
$ 1,066,523 f 1,t0i,8B6 S 406,92[I S 193,687 S 5,420,287
27,315 26,973 9.193 1.463 7f�,916
1,i31 7,624 2.439 64 � gZ.491
' ' ' - 2,716,S4d
' - - - i,037.910
- - - - 530,998
- - - - 807,659
- - - - 31,013
6,744 652 - 87t 74,171
1,102,313 1,137,135 �iB,552 196,OB5 16,26i,169
- - - - i,321,057
- - - - 584,216
1,tU2.3t3 1,137,ty5 418.Si2 196.065 11,970,443
232,455 193,955 116,724 51,189 �1,?1t,577
10B,B55 157,400 68.9&5 2D.70.i 1,299,791
1l,681 7,577 4,996 �,975 140,576
" ' - - t02,3T2
6,431 3,623 1354 2,592 fiB,694
- 136,187 t61,65fi 55.797 45,497 7�5,SZ4
ri 229,794 11i,929 57,148 51,751 BB3,271
, 61,873 54,255 i6,�71 10,C52 672,691
2i1,B76 - 7,643 - 276.499
- - - - 197.409
- - - - 1.075,808
tfi0,�192 85,284 3.993 1,261 580,8Bi
56,46i 63,485 2d4,859 65,666 995,773
t,086,095 838,884 574,975 25S�BB 11,31Z362
1fi,21B 299,257 {156,423) (55203) - 558,080
• - • - (�,essf
16,218 298.25i (456.4Z3} ($5�0� fi5fi,214
- - - - 5,931,188
�3.��.,�
- - - - (1,321.057j
- - - - azz.�t
- - - - (3e�,�ts�
- - - - r.�eazie�
16,218 288,251 (i56.423j (55�{13) i.194,729
1,000,54Q 1,081.415 1,534.900 1.441,665 80.795,636
- f260,OD� - - 3,590
s 9,076,768 S �,'1T9,666 S 1,J78,4T7 S 1,J86,4b2 S 91,993,865
�` `
h
'1
Schedufe 2
38
THE COACHELLFI VALLEY HOUSING COALITION
AND A��ILIATES
Combining Statement of Cash Flows
Year Ended September 30, 20'!7
CASH FLOW FROF! OPERA7ING AQTMTIES
I�uease (Deuease} in net esSeLs
Adjustrfienfs fo reeontile iorlease in net assets
to ne[ msh (used in) operaliog sctivities
Uep�et�aGon and amortizalion
Gein on forgiveness ai debt
Lass (Gain} on ErnresLnertts
Bad de6t eq�ense
jIHCREASE] OECREASE IH OPERATING ASSETS
Grania and mntract receivabfes
pevelaper fees rece�vable
Oiharreceive6Ses
Lsnd held for rnsale
Prepaid expend�fures
�eposiLa
Luans receiva6les
lang term tiafes receh261es
IHCREASE j�ECREAS� IN OPERATING LIAHILITIES
Accounts payahle
Accrued expenditures
Securily deposiis paya6le
Othrs lia6ilities
Loans paya6le
�eierred Revenue
NET CASH {lfSE� IN) OAERATIHG ACTMTIES
CA5H FLOWS FROIA iNVES7ING ACTIVITIES
PaymenLslTransfers la rrslrieled �eserve
Yroceeds fram resiricted reseJve - Rep}arement 8 Oper.
Aroceeds and Paymenia la Tax & Ins�aance Reserve
ProceedslTransfers to Operafing Ssvings
IrnresLnent in aifiliates
Capital Improvemer� - MF
lang Term Receiva6ies - MF
PurcF�ese af fixed assets
Dispositinn of InvesUnero[s
N ET CASH PROVIdED mY INVE5ITNG ACT]ViiIES
CASH FL.OW FROG FIHANC[NG ACiM71ES
Prindpsl paymenls on inortgage
Eemed irRrJrst mserve
Proceeds (rom long term drbi
PaymenLs aflong term debt
Transfrss of long iertn de6t - ARfiates
Ueferted revenue- Lang 7erm Notes
Equity T�ans#er .
NETCASl1 PROVI�E� FR06! FINANClNGAGi11lITIES
NET INCREASE [OECREAS� IN CASN qH6 CASH EQllIVpLENTS
6EG]NHING BALA?7CE OF CASN AND Cp5}I EQplVALENTS
EN�ING BAL4NCE CASH ANG CASl1 EQUIVALEHTS
Coacha[la
Valley M 11T1FAMILY PROJHCTS
Housing LAS CASAS L45 Cq5A5 PIE 0$ L.q DESERT
Coalition I 13 CUESTA GAROEHS
5 1.199,377 S iB,667 S (89,553j S (54,534j S 17,929
26,751 83,77'I 147,14fi
{955,218) . .
33b,394 - -
{�64,098� 2,710 (249J
1,789,728 - -
B,d73 (494J (740)
(8,430f 41B {1,778)
{646,789} - -
375,647
za,�ss
(91,850)
(ffiQ,46�
167,800
5Q,256
1,268,857
(5,879)
30
(5,574)
�rzf
93,277
IS,�i
36B
'1,855
�s,�s1�
45,875
647,107
z,�a2
(l68,528}
SOS,fi06
{2,882J
387,00.5
{47,500}
43,357
67
(4,076}
{70,200)
116,130
(866J
45,124
129,fl25 175,959
6,375 77B
1,668 (280)
(2,318) (1,5q1j
(1.119J
7,6i7
2,217
(3,591)
86,940
752
133
t,3G1
�,orz�
992,019
���9�f
75,497
��.�61
17,�21
(l9,2Q0)
74,958
551
(3,69t)
�a,asx) pa,�ai} �ss,o�s� {s�,ssa� �no.ssoy
- (1,798} (2,034} (1,744} (2,840)
3ao,aoo - - - -
(1�200�00�) • - - -
(495,2623 ' ' - -
203,500 - - - -
(1,226,214] (/5,979) (101,049) (99,399) (173,420)
429,648 13,222 (1U,056} 3,769 14,908
12,349,134 193,489 132,687 95,319 116,421
S i2,778,782 S i�6,703 S 12�637 � 99,082 S 737,379
39
-' •
, %
�
r
�
�\,
, �
Scheclule 3
�; _
�. ;
FFi�YOCAJG RAf1CFfl PAS�UE H.
LABORC@lf8i WEST L0.5FBi0E5 SOLAFA T07AL
S 1fi,218 S 298�51 S(156,42� S(i52D3) S 1,t94,T29
56�461 63ZS5 24a,859 C�S,fi66 A95�773
- - - - (855218}
- - - - 3i6,394
4,582 (895j (1.703) (4,Sd9j (257,049}
- - - - ����
4,426 (1,054) 126 (3B� 11,318
(3�&6) (fi31j - (1a+`7 (18,331)
- - - - i�.�
(t,e,z} (z,�w�) �o�7s �s,es,� �s7,s�e
6,865 (Z3B1) 4T2 7,495 40,758
3,535 1,287 - 1�5 {6,984)
' � - - - - {B2Q,�071
r' ' - - - - ]67,800
" (6,631) (11.B73J 1.30t (Z5) 2(1�12
79,778 343,t07 99,908 11,136 2299,097
�so.aoo-� (�aa,e7s} �zs,��s} (�o�ooy ts�,7��
160,d62 B$�R4 3,94i 1Zl'i1 560.88�
(2,954} 1,Zfi0 297 890 (2.271�
- - - - 2,702
- - - - crss,szar
- - - - sae,so6
- - - - I��8�1
107,128 (54,512j (25.42� (8�49} 460�
(216,427} ' (66,199) - Q4���0�
(�zym ia,2a31 {i,�es� (al ;�5,e5�)
- - - - �aa,oao
- - - - i�zao,000l
- - - • (4��
- czoo,000y - a,soo
�z��,��� (2aa�l (62,ssa� (r�} �.�sa,m�
t2a,et�) a4,si2 ia,aaz zrza sza,5�
' 183,324 896.050 t7d,967 fi1,509 t4,132,892
�� � ; , 168,5t3 ; 969,362 S t�5,8S4 i W�233 S tl,657,191
, .
� �
Schedule 4
7HE COACHELLA VALLEY HOUSING COALI710N
AND A��ILIA7ES
Grant Made By
7he UnEted States Department of Agricultu�e
Rural De�elopment
Self-Help Technical Assistance
USDA-RD 14-1fi
Statement of Re�enues and Expenditures
For the Period October 1, 2416 through May 31, 2Q17
REVEN�JE
Re�enues
7otal Revenues
EXPEND[7�JRES
Personnel
Supplies
Eq�ipment
Contractual
Travel
Space Cosis
Oi�er Costs
Total Direci Expenditures
Total Indirect Expendit�ares
7otai Expenditures
EXCESS OF REVEN�J�S OVER
EXPENpITUR�S
Non-Federal .
Granfee
Federal Participation
$ 1,134,314 $ -
1,134,314 - �
735,442
1 i ,097
27,050
25,341
5,155
52, 967
857,052
277, 262
1,134,314
$
$ -
,
7otal
Q�estioned
Total Costs
$'E,i34,314 $ -
1,134,314 -
735,442
11,097
27,050
25, 341
5, � 55
52, 9B7
857,052
277, 262
i,134,314
$ - $ -
��
,- -�
.
L.
�
�- "-,
i �
.�
4'I
%_ :,:
�'
� � _
> �
�„_ _
�
THE COACHELLA VA�LEY HOUSING COAL1T10N
AND AFFILfATES
Grant Made By
The United Sfafes Depa�finenf of Agriculture
Rural Deveiopment
Se1f-Help Technical Assistance
USDA-RD 17-19
Sfafemenf of Revenues and Expendifures
For fhe Period fV1ay 5, 2o97 through September 30, 2017
REVENUE
Re�enues
Tota] Revenues
EXPENdITURES
Persanne�
Suppties
Equipment
Contractual
Trawel
Space Costs
Qther Costs
Tota1 Direck Expenditures
Total fndirecf �xpenditures
Tota! Expenditures
EXGESS OF REVENUES OVER
EXP�NDITURES
Non-Federa]
Grantee
Federal Participation
$ 888,596 $ -
888,596 -
569,808
9,179
25, 325
19,891
5,952
43,624
673,779
214,817
88$,596
$ - $ -
Schedule 4-1
Total
� Questianed
Total Costs
$ 888,596 $ -
888,596 -
569, 808
9, 9 79
25,325
19,891
5,952
43,624
673,779
214,817
888, 596
�
- $
42
THE COACHELLA VALLEY HOUSING COALITION
AND A��ILIATES
Grant Made By
The United States Depar�ment of Agric�it�re
Rural Development
Self-Help Technical Assistance
USDA-RD 14161 USDA-RD 17-'I9
Statement of Reven�es and Expenditures
�or fhe Period October 'I, 20'I6 thro�gh September 30, 2017
REVENUE
Revenues
Total Re�enGes
EXPENDfTVRES
Personnel
Supplies
Equipment
Contractual
Travel
Space Costs
Other Cosfs
Total Direct Expenditures
Total Indirec� Expenditures
Totai Expenditures
E7CCESS OF REVENUES OVER
EXPENDITURES
Non-Federal,
G ra ntee
Federaf Participation
$ 2, 022, 910 $ -
2,022,910 -
1, 305,250
20,276
52, 375
45;232
11.'I 07
96,591
1,53�,83'I
492,479
2,022,910
$. - $
Sched�le 4-2
Toial
Questioned
Total Costs
$ 2,022,910 $ ,
2,022,910 -
1,305,250
2�,276
52, 375
45,232
1�,107
96,591
1,530,831
�492, 079
2.022, 910
_ $
- $ -
�' ��'.
�
� �
�
.— -�
_ ,�
43
r,� :,
,
�," .
�` -
; �.
THE COACHELLA VALLEY HOUSING CDALI710N
AND AFF[LIATES
Grant Made By
The United States Department of Agriculture
Rura[ Deveiopment
Self-Help Technical AssEstance
US�A-RD 1416
Statemenf of Re�enues a�d Expenditures
For the Period J�ly 16, 2014 through May 31, 2017
REVENUE
Re�enues
7otal Revenues
EXPEN�I7URES
Personnel
S�pplies
Equipment
Contractual
7ravel
Space Costs
Oiher Costs
Total Direct �xpendit�res
Tota1 Indirect Expenditt�res �
Total Expenditures
EXCESS OF REVENUES OVER
EXPENDI7URES
Non-Federal
.. Grantee
Federal Participation
$ 6,006,000 $ -
6,006,000 -
3,904,051
78,473
102,606
104,577
40,172
316,770
4,546,649
1,459,351
6, 006,000
� � �
Schedule 4-3
7oial •
Q�estioned
7otal Costs
$ 6,006,000 $ -
6,006,000 -
3,904,051
78,473
102, 606
104,577
40,172
346,77Q
4, 546,649
1,459,351
6,006,D00
- $ - $ -
� ',
THE COACHEtLA VAttEY HOUSING COALITION
AND A��ILIATES
Grant Made By
NeighborWorks America
20'I7 Expendable Grant Funds
Statement af Revenues and Expenditures
For the Periad October �, 2016 through September 3a, 2a17
REVENUE
Revenues
Toial Revenues
EXPENDITL�RES
Personnel
Supplies
�quipmenE
Contractual
TraveE
Space Costs
Other Costs
TotaE Direct Expenditures
7otal Indirect Expendiiures
7otal'Expendit�res
EXCESS OF REV��IUES OVER
DCPENDITURES
FederaE
$ 165,DD0
�s�,00a
119,826
119,826
�45,17�4
165,oaa
�fon-Federai
Grantee
Participation
$ -
Tota]
$ 165,aao
165,QQD
119,826
119,szs
45,174
165,000
$ - $ - � -
Schedule 5
Total
Questioned
Costs
$ -
� -
r �
�
'� `�.
�
•- '��
i
��
45
Sched�Ie 5-1
��
, ;
�' _
.'
� _
r ,
A
THE COACHELL4 VALLEY HOUSING COAL1TlON
AND AFF�LIATES
Gran� Made By
NeighborWorks America
. Housing Counseling
Stafemen4 of Re�enues and Ex�enditures
Forthe Period October 1, 2016 �hrough Se�fember 3D, 2D17
REVENUE
Revenues
Tota1 Revenues
EXPENalTIJRES
Personne�
Supplies
Equipment
Contractual
7ravel
5pace Costs
Other Costs
Total Direct Expenditures
Total lndirect Expenditures
7otal Expenditures
EXCESS OF REVENUES OVER
EXPENDITURES
Non-Federal
Grantee
Federal _ Participation
$ 18,921 $ -
18,921 -
11,947
598
793
1,159
Z4,417
4,5Q4
18,921
$
- $
7oial
$ 18,92i
48,921
i 1,947
596
713
'i ,159
14,417
4,504
1 e, 921
� -
Total
Questioned
Cosfs
� -
$ � -
I �
THE COACHELLA VALLEY HOUSlNG COALITION
AND AFFILIATES
Grant Made By
NaigF�borlNorks Amafica
Capita{ Grant Conversion 20'i7 �
Statement of Revenues and Expenditures
For the Pariod Octobar �, 20� 6 tF�rougF� September 30, 2017
REVENUE
Revanues
Tota1 Revanues
�CP�NDfTURES
Personnel
Supplies
Equipmeni .
Contractuaf
Travel
Space Costs
Other Costs
Total Direct Expenditures
Tota! Indirect ��enditures
Total E�enditures
EXCESS OF REVENUES OVER
EXPE1JDfTURES
Federal
$ 384,216
384,296
1 DD,000
64,216
22D,Od0
3&4,216
384,216
$ - , $
Total
$ 384,216
384,216
1 DD,000
64,216
22D,000
3&4,216
384,2'I6
$ -
Schedule 5-2
7otal
Questioned
Costs
$ -
$ -
�
�
�� �,
��
� -�
. _'�
Nor��ederal
Grantee
Participation
$ -
47
Schedule 5-3
� �.
, �
,
�.'
� �
, .
�:
� i
l, ^y//
THE COACHELLA VALLEY HOUSING COALITION
AND AFFIL[ATES
Grant Made By
NeighborWorks America
Capital Gra�t 2017 - Expendable
Statement of Revenues and Expenditures
For the Period October 1, 2016 through September 30, 2017
RE1/�NUE
Revenues
Tota1 Revenues
F�CPENDffURES
Personnef
Supplies
Equipment
ContractuaE
Travel
SPace Costs
Other Cosfs
Total Direct F�enditures
Total Indirect E�endiFures
Total E�enditures
EXCESS OF REVENUES OVER
E7CPENpffURES
Nor�Federal
Grantee
Federaf Participation
$ 213,333 $ -
213,333 -
45,210
168,123
213,333
213, 333
$
$
�otai
$ 213,333
213, 333
45,210
� 68,123
213,333
213,333
� -
Totaf
Questioned
Costs
$ -
$ -
48
Schedule 5�
THE COACHEL�A VALLEY HOUSING COALETION
AND AFFILIATES
Grant Made By
NeighborWorks America
Technical Assistance
Stafernenf of Re�en�es and Expenclifures
�or the Period October 1, 2016 thro�gh Septernber 30, 2017
REVENUE
Re�enues
Total Re�enues
EXPENDITURES
Personnel
Supplies
Equipment
Cantractual
Tra�el
Space Costs
Other Costs
Tota[ Direct Expenditures
Totaf lndirect Expenditures
Total Expend�tures
EXCESS O� REVE�VUES OVER
EXPENDITURES
Non-Federal
Grantee
Federal Participation
$ 8,974 $ -
8, 974 -
8,233 -
741 -
8,974 -
8,974 -
$ - $ -
Total
Ques6aned
Total Cosis
�
$' 8,974 $ -
8,974 -
` 8,233 -
74� -
8,974 -
$,974 -
$ - $ -
� "�
�.
� �
��
'- �,
49
Schedule 6
��' � THE COACHELLA VALLEY HOUSING COALITION
`-__ r
AND AFFILIATES �
Consalidated Schedu�e af Functional Expenses
Year Ended September 30, 2097
f ��/ '
�?
;�Y YI
SalafiCs
Fringe BenefiLs
TnhalSalades 6 Benefi+s
Conlrac4ial
Svpplies
Tnvet
Commun3ratinns
I�aiohnanri and Optrating
$pare LQSis
7nining and Edumtion
lnsumnce
Reproduction
Equipment MaiM 8 Lsasmg
Other cosls
Gommunay8ervicerPrograms 8 Suppf�es
Imemst Expense
�IuM�amiypmjeus
Single Fam1y LTO
Single Famfly Projects
Capi�l Expendi4�res
Total Flpenses 6afart Valuation
AdjusimeM � DCprecietion
Oep�ecation
Total Expuises
V ^d Supporting
Single �ev�Wpment 61u1ti Comr�unity Asse! ToGI d Generef
Fsimlv SingYFam�7y FamTy Service bynagement Progeam SeNfCrs
S 5,702,t12 S 60,a37 S 4f0,265 5 161�87 S 725,081 S 1,979,776 S 439,910 S
9tl,9T3 75.950 17�864 57,31Q Sfi.096 5T9.373 778.444
1.d6G.0&i 85,i77 513,069 2�,591 287,767 2.649A99 SSB.354
54,171 31,Sfi1 , 4�170 348�3$ 19,877 SQ2,262 774,311
711,T2U 5,531 5,715 3,579 1.968 3T.066 26,992
�7.OM 1�,1<2 75,7Td 5,241 8.142 87,y95 15,627
15,09g 4,7E6 5,946 . 3,780 2,551 35,65A 8,775
13,105 3,GG1 8,672 i,T95 9,Si1 30,384 83,401
3.225 i.179 1,797 859 1.Bfi5 1i,265 10,996
55,370 18,904 - �,6Rt 79�11 48,097 24,53�
2,698 449 552 795 756 q,652 2,348
8,191 1�48 6,ti1 Z406 4,477 21,15� 8,534
29,675 4,79i 13,2tfi 6,703 76,756 68,994 706,675
' ' - Sl,97fi - 84,976 -
10,779 5,009 fi,lt3 i 610 764,9+I1 787,632 77,696
' ' 1i5,691 . 41,715 797,609 -
' - - • 719,T10 749,T7f1 -
38r`� eB7.59B - - - 99G�OBB -
36.�0 20.090
Aflo�da6le
CYHC Housinp
Tatal Pralrs4
�419,086 S 1,49i,799 3
7�7.757 434.501
3,166,&13 1,936 303
676,573 g70,131
81,058 80,BOfi
102,3T2 . '
A0,389 59�00
- 7,537,�.17
1S1,7B5 1,444,345
22�67 q,499
1�627 19J,496
6,998 • '
31,fi68 -
769,870 395,88�
8Y,916 -
7P5,526 13],a7
737,609 �3i,D93)
7�9,T20 -
92fi,QB6 -
20.G00 i!?,eR
Cansdidatr�
Tota1
3�820,885
1.7ffi 261
5.063.756
1,575,00T
1M,861
1U2,3i1
99,589
1,537,ii7
1,556,13Q
76,760
316,775
6,496
39�668
565,75p
8Z97fi
611,7i5
166,595
]d9,Tt➢
5�088
597.87!
1,767,576 7,9W,577 Si�,6?6 77�,617 7N,559 5,067,5TT 1,fl29,789 fi,097,365 7,414,343 13,577,759
- 1,2�3 1,243 27,508 28.751 2,1B0�9A 2219.015
S 1,7W�16 S 1?�,117 S 8i1,52f S 77S,6S7 S 711aS9 S S,06E,B70 S 7,057,2s5 S s,�x8,116 � 9b61,cb7 S t5,780,aW
��
THE COACHELLA VALLEY HOU5ING COALITION
AND AFFILfATES
5ched�le of Expendifures of Federaf Awards
For The Year Ended 5eptember 30, 2017
F'ederal GranYor/Pass-thro�gh
Grantor/Proqram Tiile
U.S. �eoartment of Aariculture
Rurai Self-Help Housing Technical Assistance
Rural Rentai Assistance Payments - Desert Gardens
Rural Rental Assistance Payments - C.as Casas 1
Rural Rentai Assistance Payments - Las Casas 11
Rural Rental Assistance�payments - Pie de la Cuesta
Ruraf Rental Assista�ce payments - Fred Young Labo� Camp
Agency or
Passthrough
nEumber
N/A
PE/A
N/A
NIA
N/A
NIA
Federal
CF�A
Number
Farm Labor Housing Loa�s and Grants (Note C) - Rehab Loans
Rural Rental Housing Loans (Note C) - Mor�qage Laans
Total U.S. Department of Agriculture
U.S. Deot. of Housina and Urban Deve�ooment
Housing Opportunities for Persons with Aids (Note C)
Aass-through from the Local Initiati�es
Support Corporation
Section 4 Capacity Building for Community
De�elopment and Affordable Housing
Pass-through from the Lorra[ Initiatives
Support Corporafion
Section 4 Capacity 8uilding for Community
�evelopment and Affordable Housing
Pass-through from the Local Initiatives
Support Corporation
Section 4 Capacity Building for Community
Deve]opment and Affordable Housing ,
Pass-through from the Local Initiati�es
Suppart Corporation
Sectiors 4 Capacity Building for Commu�ity
Deve[opment and Affordable Housing
Pass-through from the Lorral fnitiatives
Support Corporation
5ection 4 Capacity Building for Community
�evelopment and Affordable Housing
Aass-through from the County of Riverside
Community Deveiopment 81ack Grant
Pass-through from the Counry of Riverside
Community Deve[opment B1ock Gra�t
Tota[ U.S. �epartment of Housing and Urban �e�e[opment
i 0.420
10.427
t 6.427
1 p.427
1 p.427
10.427
N/A 10.405
N/A 1Q.415
t�i/A 14.241
41182-p055 14.252
41182-0057 14.252
4i182-0058 14.252
41'I82-0059 14.252
41 � 82-0060 14.252
4.197.'!6 14.2�8
4.'[98.16 14.218
5chedu�e 7
Exnenditures
$ 2,022,946
358,32�
132, 649
140, 697
� 62, 033
295,469
1,089,ifi9
406,1 fi5
5,572,44-4
9,090,68$
,�`�
�
.� ��
,� �
� ��
282,250
�
2a,000
3Q,000
9, 700
15,200
6, 600
81,500
16, 000
8,780
24,780
388,53Q '
; 1
e ,-
��
r-� �� THE COACHELLA VALL�Y HOUSING COALiTION
__ AND AFFIL[ATES
SchedUle of Expend�tures of Federal Awards
For The Year Ended September 30, 20'f 7
�' '
�,' `�
Federal Grantor/Pass-through
GrantorlProgram Titie
U.S. Deoartment of Health and Human Services
Pass-through from the Community Aciion
Partnership of Riverside Caunty
ARRA-Community Services Block Grant
7otal U.S. Departrnent of Health and Human Services
Lf.S. Deoartment af Treasury
Pass-through from NeighborWo�ics America
Expandable Grant
PaSs-through from NeighborWorks America
Housing Caunseling Grant
Pass-through from NeighborWorksAmeriq
Capital Granf Canversion
Pass-through from NeighborWarks AmeriCa
Technical Assistance Grant
Totai U.S. OepartmenE of Treasury
Tota! Expenditures of Federal Awards
Agency or Federal
Passfhroagh CFDA
Humber Number
CAP-i 5-030 93.710
N!A 2�.00D
N/A 2�,OD0
N/A 21.D00
H/A 21.000
Sched�Ie 7-1
Expenditures
1,656
'[,656
378,333
78,921
384,276
8,974
790,444
�+ 10,271,318
52
THE COACHELLA VALLEY HOUSING COALITION
AND AFFILIATES
Schedule of Expenditures of Federal Awards
For the Year Ended September 3D, 2D17
Notes To Schedule of Expenditures of Federal Awards
NOT� A- Basis of Presentation
Schedule 7-2
The accompany�ng Scl�edu�e of �xpenditures of �ede�a[ Awards (the Schedufe)
incfudes the federa� grant acti�ity of The Coachella Valley Housing Coalition under
programs of the federal go�ernment for the year ended September 3D, 2D16. The
information in this schedule is presented in accordance with the requirements of Title
2 U,S. Code of Federal ReQulafrons Part 200, Unifarm Adminisfrafive Requifemenfs,
Cost Principles, and Audit 14equirements for Federa! Awards �Uniform Guidance}.
Because tl�e Schedule presents onEy a selected portion of the operation of 7he
Coachelka Valley Housing Coalition, Inc., it is not intended to and does not present the
financiaf positian, cl�anges in net assets, or cash flows of TI�e Coachella Valley
Housing Coal�tion.
NOT� B- Summary of Siqnificant Accountina Policies
(1} Expenditures reporied on tl�e Schedule are reporied on tl�e accrual basis of
accounting, Such expendit�res are recognized following the cost princip[es
contained in the Uniform Guidance, wherein certain types of expendit�res are not
ailowable or are limited as to reimbursement.
�2) TI�e Coachella Valfey Housing Coalition, Inc. has elected not to �se tl�e 10 percent
de minimis indirect cost rate as alEowed undef the Uniform Guidance.
NOTE C- Loans from Federal Aaencies
TI�e following is a list of federaf loans the Coalition has outstanding as of September
30, 2017:
Federal Aaencv
USDA
Rural Renta� HQusing Loans
Las Casas Apartmen#s
Las Casas Apartments
PRe de [a Cuesta Apartmenfs
Pie de la Cuesta Apartments
L.as Casas II Apartments
L.as Casas ll Aparhnents
Desert Gardens Aparhnenis
Fred Young Lahor Center
Fred YQung Labor Center
�red Young LabQr Center
Fred Young Labar Cenfer
CFDA
10.415
10.415
1 D.a15
1 D.Q15
10.415
9 0.415
10.415
10.475
10.41 S
1 D.415
'f 0.415
O�tstanding 6alance
at September 30, 2017
97,205
31,148
a29,614
143,979
518,4fi5
49,019
2,329,690
371,224
268,286
588,436
745,378
5,572,444
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THE C4ACHELLA VALLEY H�USING COALITfON
�'� �`� AND AFFILIATES,
�
Co�soCidating Statement of Financial Position
September 30, 2017
C�RNEYfASSEi9
�N
GisNs AeceMa6k
Oe+dcp�erFeet Re�i�e6k
tH�es Re�i�ahle -5�vysnr
lMeieQ Rarekade - Spoicp
OlherRuxivyhEes
Re31 Pmperiy Fidd 1v Heale
Repatls
UepovG
7orhLeupREwrAs%ts
HONCIfRRpIT Is4E7S
Resuid¢d �A
F7oia fL�haMe
CAfEl111f4011111 PIOOICS • IAF
Real pmPely held for Resale • Lmp Tmn
lmg Tem In�smr�-14Hdears� Paime�s
Lmg Teim Recri�mbles-LIF
�qP�M� PIaR md FiN�PmeiE - Nd
TOTAL RDHCURflEHf ASSFTS
� TOTALAS5E78
•'.Y [.1A�LfT1ESANGllEflLL'ET9:
CLRRE7rt L1A@ILffIE6
Aa�nde Payehla
tm�d LlahRilres
Gmert W�6ankvgdemi deM
Oeposi� Payatle
Olherlie6�rtiec
l�Pa�ahle
Defened Fe�ern�e
TOiALC�RHEIR WBILTIES
Hoa�ur�ewrwsiunes
� r� o�m
pekrpdReverxe-LMTe`m N�s
TeW Lo�q.i'+m de6e
T47ALUA0ILIIIfS
COM►CTMEIITO FNo CON7iNGENd65:
?IETA83ET5
lAvshided
ienpu�dyreso-ld�a
amrene,ey iem;dea
TOTFL NEf ASSET9
TOiAL WB1L1T1E5 AN9 NET i455E7S
� � 'S
�
Caac�eW �ayo�e Sprinps Il�a 641es Aveou6 Aletta Ifovc�p faad�W YdkY CoacAeVa Ya9ry
f�a0�ln� Ap+�pnntyl� Ho�aiap,6K HWSIOQ�in� Assoeule�,lna FWiainpLyain6� HevsinpCos6tion
CPiCk1L1 C�m �oyc�e Spriips Ikm Vlm�cnq 1Gks Aw¢ue Pa+�a de Ca�hedrd Haushq Lu P+1me�
IOTILL Afsenme� FP� h�asatm Assodmef Hauain0 Assooaief lae Aoelos Aaaial�� lb�inp 14asosiales
f 11,�T,a97 3 - S - S - S - S • S • S -
461i.338 - . , _ - ' '
7,773,767 - . , _ . _ .
- 760.�0 37��1 77AW 78.000 ��000 - .
- - ��1 • - tfq�37 . _
3,�54� . . , , _ ,
17,�S�G6< - . , . . ' '
f7�ltB ' ' • - - ' '
m.�ss . . . . - - -
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t0.531.55fi - . . . . - -
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3.7gi� - . . . . _ . _
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S3.9WP71 - . ' • - ' '
15.Bfi6715 ' ' ' • ' • '
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S 6t+8,1�77 S - f - S - _ - _ - S • S -
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asa,,�ae - • - - • - -
3e6So� - ' ' - ' • -
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161� ' ' ' ' • • -
207�17T ' - - ' - ' '
7,�93013 - • - • • ' '
76.565L� ' ' ' ' ' ' '
/,512JB9 ' ' ' • ' • '
RID7.711 . .- _ — - . - ' '
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r�,57a�7e �Aoo �ss,�a 325A� 7enm a�4o� <s,�rs -
asz�a . � . - - - -
69sSa - - • . . - -
819�1.865 �.Q70 fi�69/ ]7&.176 78A� 278�086 14�375 -
S 1��6i1,c1e f x�oAw i 55s,se1 S au,ns s TdA� b soeAe� S �ea7a S -
r
••
LIIRRE1tTA55Ef5
��
Grams Re�i�raLle
�evebper Faes Rerei+ahle
Not� Re�i�atde-Spanmi
6dercsl ReceHatk=Sparcur
Olher Re�ivahles
Reaf Piopeny Heb iu Resale
Papaids,
�e�'ts
TOTAf.CBRRENTIL55ET5
MOIE�VRRENT0.55ET5
AesLided ��
HWes ReceaaMe
ComLud'mn h� Pmm�es� • AIF
Aeal Property heH for Resale-Inng Seim
lnngTeim Im�eslmanls-NRale; Partiasli�s
lnngTeim Rec�ivahks-MF
Pmperty, Plsm ard Eq�pment-Hel
TOiAL N6AtIIRREIIT ASSETS
70iALA55ET5
LU�BILITIESAY� NET ASSETS;
CIIRREBT LUIBRIiIES
A�u�ds Paya6le ,
ncc�uea uabSses
Cure� pa�tion 6ngae�m deM
aeposBsPayaNe
Other Lia6Zlies
Coar� Pdyahle
6ele�dRe+�enue
TOTAL ClIRREYT LIABM]ES
MOIf�lfRRENT LlABILTf1�5
lnrgTerm Uebt
�efe�rd Revenue -lat Temi Holes
�Told Lang-Teim de6!
T07AL LIABiIJfIES
COM6![fdIFMTS AYG C611T1iGENGES:
NEfA55Ef5
U+reslnc�ed
iemporanlyiedrided �
Peimenen7/ resUided
TDTAL lf ET ASSEfS
TOTALl1A91LIf1E5AypNECA55EC5 �
THE COACHELLA VALLEY HOUSING COALITION
AND AFFiLIA7ES
Consolidating Statement of.Financial Position (Continued)�
September 30, 20�7
u�s AveeQe
Cou3e0rYoIIey Cwthdf�Y�lley HtusinpL�e. Cc�chedY�ey f�acMpnYa�ey twehelhY�Oey Cwche]StVs�ey
NoaiinQf�litian Naosc�pC�+6tion WeslemAi+erside UunHoucing�ru. HousinpCoaLfoa HaasinpCdWion Housingtmfmon $ausingfaafmoq
N�rtisoa Sheet ale�sa Fam�f Xousinp Acsai�es Yill+s HoLLsu�g Yei6au NousinQ Cas�a� del4�ib Huiend� SunxtAfloida5k Artayo Houfinp
Asocuiq Hovsins�4sseciates GulPlxa lssofuSes lusoeiates Housinglssxi�tes 8ousinglssaci�tes pux'vles
S - S - S - S - 3 - S - 5 - S -
- - - • 459,796 P&7,175 511�9fi -
%--�
�
• • - - _ • - • • `<
• - - - 4S5,I96 287,f7S 5fl�9fi -
S - S •� • S • S 15l,796 S 3i7,R6 t 511,196 S • �
- s - s - s - s - s • s
- S • S' - S
�7
- �59,i56 287,175
- d59,756 2Ai,175
• i L�@,I56 S l97,115 ;
-s -
511Z96 -
511�96 -
511�l6 S -
•- \
I
� �i
THE COACHELLA VALLEY HOUSlNG COAL1ilON
� � ��, AND AFFILIAiES
e r,
Consoiidating Statement of Financial Pasition {Continued)
September 30, 2017
Cwchell+YaAey CwehelhWAey Ca�dvmYalLy
HeusingCaolilion HausbqCaafiFien HeusmqCoaLfiors
DeseR�C4hhndiLlL T1�9ueP�que (soleUv�erl I���+l I���S
Wuh�yy�y Carh.yy�➢ey T6qv.;..*;�^ 6masdeP�LlL HausNqNa Fie.dYounp CYNCCemmuniy PuehLNoew
HoueiqCa�don HousbQCaai@an HovsmpCa�p. YrnNcuso�p.lnc �SokMcm4eQ PhueILLC Ho�aLLC ApWrcnhLLC
lapuin�Hdalnp PueaWusu�p �euM1Hqh4rtdi BritudePu hquep�9ue PiedYacgPha.l rn�dwG�Reloh P�IoNuevo
luea[t7k5 Auociales Hew�qlutactes Ats�ctila 1WNrcnh�llC !aacirte� Asre�es Aaseei�s
cuw��+�us�rs
r�, s - s - s • s - s - s • s • s -
pe� Rere�a6le - - - . . . - -
�e�ebperFeeaReeirdhle - ' -
Nole3E�va6r•Spo�am - ' ' ' � �
IR�e�4Rere�ahE-Sporisor - - ' " ' � _
qherRecei�d6ks • ' - - - ' '
Aral PmPdH HeJd Wr Resale - - - ' - - ' _
PreAads . - - - - " � _ .
�� • - - - - -
miALclIaAENT155E15 - - ' " _ . .
NOH�IIRRENT155ET5 _
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SDTALNONCl1RNENTILSSE'IS 79i9� 119,dG! 1�57�36 S19�T! • lA�,� . to
T6TAL155Ef5 S 49Ty37 S ��� : �A�6 S 6i9�7S S • S 7,099,T88 S • S �0
W1811J[1R FN� NET ASSEfS:
CIIRREHTUABILmFS
apmu� PayaCk 3 • S - S
Aw�ed Lia4ileks - '
Gmertpir�npr�-IeimdeM - '
��� �� • '
MerL'a4�es - '
lm�a Paya6ie • '
Aefrmd Re�eme • -
SDTALC�RRENTLIABIL]II@S ' '
NDNCI7AFlETlT WlBN[16
LugTdm�e16 - •
Oelered Rewue-In�dTeimNo�o - '
Te1�iLortpdnmde6t • '
TOFALWBIL111R ' '
COElMR1�N15 AN� C6HTINGEIICIES:
NET tiSSETS
Um.�ddeA 197A� ti9,4Q
iemporadyrestrided - "
Pemaivdlyratri�ed - '
TOTALHE[ASSETS 797$JO 7�.�
TOTALLIABiLI11E5►HONEi135ET5 S m}�o s ��,� s
�/ A
�� �
- 3 - S - S • E - 3 •
1,�,7� 579�A
1As� �AT�
,as�s s sn,rrs s
- 1,999�TBB
. fA��18A
• S 1p49,788 S
�
�
��
GUAREXTASSETS
Gsh
Gra� Receira6le
DevelopuFees Aeoe}Ja6h
Noles Recriva6k-Spucm
lnlerest Recaiva6le � Spoma
ONerHecertabks �
Rrd PrnpertyHeld fd Pesale
Piepaids
Skpus�s
Torkcuw�exrustzs
NOHlIlRFEHfhSSE15
Aes4ictedCa�
1ldes RrriraSle
Camndim A Progiea • IIF
Aeal Rop¢rty hsk! fuRcmle -Lwy 7em�
Lwy Teim lirvr�mz�4 •AP,�qks. Pa�h�e+',�
Lwy Temi Heceira6W -lIF
PmPeeY, Plan ard Fquipmurt • Ne�
TOTAL xON�11RREHT 1L:SETS
TOTALlSSEfS
LIA61Lf11ES AF70 HEf ASSETS:
CIINAENT LIABILRiES
Aeoo Ws Payahle
Amued liah3fie
�i� paion 1�qaz�m deM
�epos� Payahk
Gk.rL'a6ififes
���n�
�ekiredRe�rlua
TC17AL CIIRREH7 CIIBRf TIES
HON�lIRHEHT LIFBILf11E5
lnnQTmn �ehl
�efered Reuen� -lmdTem� N7�
To�1 LnnpTnm dehl
TOTALLIA6Rl�ES
C6Mi�fIdEHTS ANU COH71NGOlC�S:
NEl ASSE75
uMsmaee
Temporanlyrtshided
RmurcrAfy Rshitled
TOTALNETASSETS
TpTpL LIABIIlTIE$ ANp NET ASSE75
THE COACHELLA VALLEY HOUSING COALITION
AND AFFILIATES
Consolidating Statement of Financial Position (Continued)
September 30, 20i7
�.���
�
c�na�v�r
Houaorp CbaWon lhneed P�u
(6aIelWrte] I.��TedPuhiv l.un�dPai4�er Ccarhe9a LJmiledPuSier
Pnri�Fmn� fcaJiell�V�llry Corhlv Cusslhlnc LinihdPaNr� lim@edP�Mv TLiquq�queHousmp,4n LI�Aiava
Apahnrstsll.0 HousApCa�Sron, tnssl4l� LL7esAuenue 'Ilaqucp�queHousingCoiµ Couehellahs�sIl€,Ina (So�AlemEtQ Housmp[oe.
Pe�Famflr CorJelhCss�uW Mnx�Heuseg liousinp CoyefeSpnngs PasmhLesPoeW Tl�quepa�vt Ca9+edrdHwsng
�Paffi�hh�. �YOC�71l3 I�t�Cult3 flsbtialvS iIp316neM1llASSOCi71W illSOCIaYW 1�piAmedILS,U.0 AuCC1a�i5
- S 2E2,3fii S S9y210 S /4T99 f 24fi,713 S Td,2A S iAB.9i3 f 176�96
• 1,14E 5,1� 1,191 12867 9,107 2,681 6y65
- 13,7f0 SJL10 11,5ii �,5A5 9,128 20575 Bsi$
• �,7¢i 57.76i 72,116 fiL,B� 41,17! IOa9{ 9.7r2
- ��IIS 1NSi5 7fi.4N 9�,OIS 95�ABP 21;703 7D$8t8 ,
- 715�.9 7➢1�12 2�fi,fi9 W1,5p�F 149,8A9 71�711 1�,710
' - - • 3�C5i51 . ' '
t,s1s - - . aos�st - - -
- 867.1� iZ70$96 196� �,TS5�9 Sp5B,7lT 9�717.712 1.4718(0
1A7fi 1XI7,7M i,47Z10B tAU,97 fi,'W!'$� 9,2�,fi3G 3177AZ3 t�'77�0 '; / ��
t8f5 S 1,31l,669 S t,6li,]Td ! 1,170,461 S 6,41;6N � t,7b1,5[6 S 3,/83.tI6 S �A�76B �
f:
. _
6,174 f
1�fi
��'
707�]
A773
S57.T19
7,892.Sa9
�
�
2,37� 1
7,P1S
N,59�
as,iio
733
t43X.ii
2,725,471
7�2i,I11
2�i1,701
7,315 S
907
12,M1
ix+,ssa
579
79A,�
i,aizav
,,mza�
1,15F,3?3
,a�s n,sss+� �•�+s� s�,�i
1p16 f1',�25,�9j (b10,i11S G�,PS2)
1A�s ! 7,Sfl,6� S 1b5r}n S f,t30,IG1 7
S
razee i
51,346
ffi,663
m,mj
27 9�
28Z2[6
s,wr�s+
e,�or,�s�
8,669,�T7
t,eea s
661
�
9}51
z.�5zr
155
253,8�
r�,im
r�,is�
B9T,996
4s76 s
�a�s
35�
I0�1
�
�+Rf
3,797,8�
��
3S76�i
z�
t?55
9676
tsa�
3bli
24yTt
7,7y� lii
s,r�5,�
1,Jfi,Rt
R���1 a��sm r�n +a++
(7.176,&59} 37f$31 [ffi� 49H
fi,H7,674 S 1,AW,516 S 9,163,576 S 1.7I5,7�
� �\
0. i
��
59
THE COACHELIA VALLEY HOUSING COALITION
�� �-`�f AND AFFILIATES
� ,
Consofidating Statement of FinanciaE Position (Continued}
September 30, 20i7
Cl1RRENT a5SET5
Cash
Grems ReceivablE
Deueloper Fees Receiva6le
Nates ReceNable - Sponsor
Interesl Recehrahle - Sponsor
OiherRece'rvaSSes
Real Pmpe�ty Held ior Resale
PrepaEds
DeposiLs
T6TALCURRENTASSETS
NQN�UiiRENT ASSETS
Reztrieled Cash
Notes Reeenrable
Constn�dian in Progress - MF
Real Proper�r held for Resale - Long Te�m
Lang Teim Investments-�Aates, ParNerships
__ LongTermReceivabfes-Arr
Propedy, Pfant a�d EquipmenL- Het
�', '
� T67ALN6N�URREN7ASSETS
TOTAL ASSETS
LWB0..IilES AN� NEC ASSEiS:
CURiiENT LU4BILTilES
Arconnts Paya6fe
Acuued LiaBiGtieS
Curcent poNon bngierm debt
Deposits Pays6le
Olher Liabilities
Lnans Paya6le
Deferred Revenue
rora� cuaR�r uas�unes
NON�CURREN7 LlA81LETIES
Long Term DebS
Oefered Revenue - LnM Te�n Nates
TolalLong-Term deht
TOTAL LL4BILRTES
C0INMITMENTS J4ND CONTINGENC�ES:
NET AS5ET5
Unrestri�ted
' Temporarilyrestricied
Permanenllyr 2stricted
TDTAL NET ASSETS
TOTAL LIASILCf1E5 ANo HET ASSEfS
�� �
�, i�
L3mited PaN�er
Coachella Commanity
Homes, Inc.
Palmeras Nousing
Assooidtes
S 131,673 5
994 � .
nzra
43�83
�sa,ise
601 �45
9,431,939
4�013,?34
S �,2s1,�ee S
S 2,560 S
i,412
27.174
41,780
93,7g4
s�oz
�ss,asz
1,724,64Z
�,aa.oaz
7,9�5,394
2,337,994
2,337,994
S 4,2]7,388 =
Limited Partner
Ilfeco Novsing, inc.
Lle� FamilyNausinQ
i�SS�CliiLS
T3,364 5
8,944 .
4,127
16,322
�o�.m
45{,648
t,B6Z�33
2,3�6,301
2,424,478 S
2z93 S
969
3,9T!
15�25
9,3T!
4,693
��
1,363,218
�.�ss�ia
f,399,752
1,024,326
1,U24,3�6
2,4Zt,078 s
• �
L.imited Partner
5lecca Nousing, Inc.
Harrison Strext
ASSOGIai@5
d3,953 $
3,SU9
7,55a
16,A61
»,rr�
369,508
2,�14,189
2,483,697
z,655A7o ;
7A,167 S
652
16,048
30,312
535
75,71q
1,539,428
1,839,d28
5,7�5,142
B4U,328
84�,aza
2,656,470 S
LJmiled Partner
& A�Ilatxs'
Eliminatloas Totaf
- S i6,056,868
- 6,044,336
- 1.273,7fit
�885,004) -
{730,717J -
(973.12� 2.433,91&
- N,995.684
- ?59.627
- 744,S6B
(2,588,844} 38,805,7fii
- t4,340.925
[�OQ251j 4,297.4&6
- 3,793,564
{6�56,8�3J 4,417,337
(2B2,259J 33,622,721
- �6,973.543
(6.845,304} 97,115,576
(9,4]4,148� $ 135,927,117
(973,12�
(973,327}
{2,204�18)
(1,2D4,218)
(3,1f7,345j
S 795,655
459�T1
3,fi27,151.
640,334
2,11D,520
157,eao
244,820
B4O50,558
41,682,351
4,342,099
46,2�4,450
54,275,008
(6,256.8�3j 7Z.2Z7,44]
- 8.Sa,782
- 896,504
(6.256,803} 81,&46,329
(9,434,74Bj � t35,921,117
11NR6TRIE7mHEf ASSETS
Suppat
ReNd hcmib
Cnmme�oal:come -
I�se�est Irc�ne
G2� & L�lrads
�e�doPv Fas
I.YLtifamTy Rojerl hmme
SeH+1dp Piojeds Ircome
Gao� on impsimexs- bNJmlee
Pauwnlip Ala�agem�o Fe�
Olhea Re�erue
Nei Asvats Jeased M1om Rey�riGun
RestiiCiore �alisfrd hy Rmision R Senta-GraNs
Reslnct6n e�isGed ty Pm�ti�n �fienic�lal Greny
Tmal Ilncaiaed Re.ene a�d 1k1 Asse�s
Released Imm pntiirSims
E�e�es
Pasoia�e!
Cnroaelual
Siqpies
Tra ]
Cnmmu�vslim
6�Me�urce ad Ope�aM1nB
5perp Cmis
o¢hv u�s
Inve� Ezper�e
N�ifmnJyProjrrls
Self Help Prqvls
Capnal 6yendilvres
DeGr�lmn
Adminislreti�e Fms-C1MC
Lo!a on Inueslmuils-lonBed PaNr�sfiWs
TMeI E+y �.s
E7fCE55 �pEfIUTjOF REVENIIES OYERfIPEN5E5
LO55 pM pfdOR YEFRGfUX79
NONOPERA7ING REYENIIE.FORGAIFJIESSOF 1A1J1
INCREA9E (GEGRF.A,�E� [N IlNRESTAICTED NET 7SSET5
7ENPORFIELY RESiHICTEO HiT ASSEfS
Federel, SIe1�an41aaIC2Ns
Net Ass¢� re6eeed-piseie�n6aed-GraAs
I�t kssels 2leaced . Fanxd Cav�
]kCREASE�DECIiFASEjIN7ENPaRhRILY
RESTpC7EC kE715SEfS
pERYAHBIITLY RESTR1CfE6 NET �SSETS
ConlntNiva
Rekase from Rry�qo�,aHs
INCREASE(�ECRFASE�]N PERWIµENTLY
RFSTRICTEG NET ASSEfS
INCRFa9E (OCiqEJ�SE] kN NEf �196E[5
kETlSSETSAT8EG1N711tla OFYE�R
Adjustinenl W Hd Asset
FquhyTnnden I f�ntrihutien�
Priar Period Fdjurnenls
NET 1LSSE[5 AT EN60f PEkW D
THE COACHELLA VALLEY HOUSING COALITION
AND AFFILIATES
Consolidating Stateme�t of Activities
For the Year Ended September 30, 2017
Yiles Arenue Flecca
Cnaehell� f�yol.Sprinps 14cca ]businp;hs. Heusin�,l�, �Cad��aVapey CaachrAaY�iey
C�sacQ4lnc Ap�Men6,lna HeusinqLr 6GIaAyenue paseode HousinpCafiEim jlou�mpCaaSmua
r+^�—^, hsa m tnpne Spri+Rs Ilera Nousiny Housinp Loa peens CathedrJd Housinp Las P�4�em
TOT�L llssxisles l�p�tiAuuo�ale� Naoriari Assmiate� Auuo�ale� Asseeiele� HeusingAuad+tu
S i<m�7 3 - i - S - S - b - f - S -
,na,s • - - - - - -
82191 - 7,313 - - 5�7G0 - '
�17fi$M ' ' ' _ ' ' '
1�¢l7�70 ' - ' ' - ' '
510899 ' ' ' ' • ' '
9lilbi9 ' ' ' ' " ' '
31P13 - • ' - ' ' -
- 2t971 10,900 16,923 Sfi,B73� 15.900 74� �7,790
71.171 - - . _ .
14�5=�7 iL97T 1�`313 18�7] 7fi.927 2G,7CA 74� �i,760
i�fA57 ' ' ' " ' ' "
381215 ' ' ' ' ^ -
71,91q�17 7�BT7 35,313 76�9 16,513 30,700 74� �,750
4�IS7! - ' ' ' '
1,�4.79s ' ' ' " "
970576 - • ' ' '
i� - . .. ' -
68.631 ' ' ' ' '
T15,41 ' ' ' ' •
ea3ri • - - - -
629BI - ' ' ' -
Pdc99 - ' . ' '
797bG9 ' ' ' ' '
1�Q75.BOB - . _ _ .
SBOEBI ' ' ' ' '
a�.7Td " ' ' ' "
' 7297T 1q0[L 16gL3 �6.9i3 75p00
' - • 9� 70 . d9!
77,372,362 �ffTT 140(1p 17,a72 7s,Og7 75,892'
�� ' 751i3 �90BI j70) �.BOB
�i,B68] ' ' ' ' '
65G�7� ' 75,313 (9R91 (70� 1809
5531.!ffi - • - • '
j3.6ifl.�OPI . ' ' . •
U.47.457� ' .' '
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(3892161 ' ' ' '
G�]76} ' " ' '
7�i8i.7S - 75,353 {809� l%�1 4�
60�795�ifi 7SI1.0�0 9711}77i 377,7a5 76,670 2[L1�78
3SLO ' _ ' - •
i d1a73AL5 S XDp06 3 773,564 S 77iA�f S 7a,W0 S YOApB6 �
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7
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m -
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49�3d1 .
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t/
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IAVRES7P1C7ED NET.l0.5Ef5
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Rertalln,a�
Canvr+erd�f ircarte
keaesl lrame
Gra� d fo�hacls
Oeuehpei kes
ku6damiyfiqcdYr�rre
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/r � � 6�pGes
f i � Tfd.l�
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sefl Hr1p Projetls
tepad E�per�ues
pepreralion
Admimta6R kes.dMC
I�5 011 LM1LiIiIE� • Ibfll[QPM�JfMpS
To�l E�Se�
E71CF55 (OEFICIF] DF REYEhN�1FE OVEA E1�EFL.6
Lo9! ONPWOfl5ENt6RANI5
170110PEAA711A RfYeNIlE •FORGNE?lEA4 OF IOAH
I�:Jiul5E�L1ECREASEj 6711NRE51WC7ED UtT�l55E7S
iF]IPORAWLYRE47110CTFL I�T+�SSE75
Fedem4 &la�e,and Inc�(,Ymh
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kelAsse� mta:ed • Eaned G�eils
WCRE45E (GECqE19� �i TFLPOHIJULY
AES119C1iD NET AiSE75
PERIIANENILY RFS11nC7FD NE7 ASSF15
CnimiLulnns
Pekaee hwn Res4duisl' rb
IHLREASE �ECRFASq al PERYANBiILY
RE57pJCT� N�TA45Ef5
dERE1��E�QBREASEJ DI HET ASSE[5
1hT �SSElS AT6EGLiIlIMO OFYFAR
M'uenvSm Nel ►jte[
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Prioc PaHtl MpsCne�
i '
_ NETASSFfSATFJNOFpEqOD
7HE COACHELLA VALLEY HOUSING COALITIQN
AND AFF1LfATES �
Consolidafing Sfafemenf of Acti�ities (Confinued)
For the Year Ended September 30, 20� 7
ITiln Awuq
CorJelaVaAry Cnrhl�Vi9eY �41� Cuxi�eLiVrAey CaahJlaYa6y Ca�d�eLiYiBey raad�aVa&y
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Haram�s?sd IleaFardy w+e6�pAr�oar� wL.lm�eaq verfle„wuvrq wit.,ddv,n. H,6cid.a�m�eiAM,rS+EI. ,�.opw�suy
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S •; - s . S . S . S - S - 7
itPoo �x.soo ... A�O: - , it� 16�a ioeop si,000 hAm
f7,OL 72500 17A10 I}f�l 10,Om I�,I� 1R,E00 ri,m0
s2A07 77y.L t�6 i;�A 74� S�PW 12.ppp 27,ppp
t2,tt� E2.500 73,7� 17�11 1C�0 70.� I7Jm0 IIJY10
. ' . s i$ � -
[iii�11 17,i7p 19,7➢0 177�11 76p65 10,0.�5 i;933 21,Om
' ' ' ' R51 f�l fel -
' ' " ' {i� �} (�1 •
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.t
62
' i� (�i
• 1�y51 287�iB
- 1 167,A6 S 7C7,715 S
�,
511.Yi5
611,xl6 1
I�HRESSRICIE� HEY A65EI8
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fmmiu�tien
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EiCF55{0&IQI� OFIiEVFH11E504ER EIPOiSE!
1055 ONPRIORYFAq GRAN76
HOIIOPEA+ViL4G RfYEIR�- FOAGNENE37 OF IDAN
INCREl�SE (GECRFASEj pl UNRElfRIClm HFf 15lEIS
ro�aow,w�Y r�snuthn �r Ass�ra
Fede2{ SWqeidladGrari6
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Nel p€sels ie4ased. Emned Gr�6
INI`AEASE(OE�.RIEASE� IHTELP6RIIRRY
RES7RICfFDIhilSSEiE
PER�LINBALY RBTRILTE'� NEi ASSEf3
[aN�@NorR
Rdnre hamPa�itl'ra¢�Grarrts
INCREI3E��ECREASE�UIPERYAWENILY
RE57RI�ipNETJSSE73
v�seSOECAc�sq w p�rusers
�r us�s u e�uu�uc oFv�
AdjYshnErtWHdAcul
Fq� iry Trmdcrs 1 faMnbuti e n'
Priu PeriM I�dryslnr�
k� A�SEfS AT FNG OF PERI00
THE COACHELLA VALLEY HOl1SING COALITfON
AND AFFILIATES f- -���
�
Cor�solidating Statement of Acti�ities (Continued) �
For the Year Ended September 30, 20�7
e�kn,veo�y r�a�v.�y o��+v,or,�
No�oiiq�ilpion� FlotainpLW5Eon Iku�'vpCa.66mi
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7HE COACHELLA VALLEY HOUSlNG COAL1T10N
AND AFFILCATES
Consolidating 5tatement of Acti�ities (Continued)
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THE COACHELLA VALLEY HOUSING COALITEON
AND AFF1L[ATES
Consolidating Statement of Acti�ities (Continued}
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LHiH'i7WCT� PE7 ASSETS
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;'
THE COACHELEA VALLEY HOUSING COALITION
AND AFFfLfATES
Consolidating Statement of Cash Flows
For the Year Ended Sepiember 30, 2017
Ysn A�enue IAecea CaacreCa VaOvl'
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66
THE COACHELLA VALLEY HOUSING COAL1T10N
AND AFFILIATES r� �
Conso�idating Statement of Cash Flows (Continued) �
For the Year Ended September 30, 2017
Yika Awm�
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67
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, ,
TH� COACHELI..A VALLEY HOUS[NG COALITION
AND AFFELIATES
Consolidating Statemant of Cash Flows (Continued}
For the Year Ended September 30, 2017
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Long Tem� Re�hc bl¢a-#.F
Pu�ase offanA a4aem
Dlspasl0an otma.d aase�s
f4T tASH PIm41� BYIMlESi60GACENPi�
G45H ROW �iqM FbWJCa1GACIMT�S
Arindpal paymenh on mortdaye
Enmed in�ereatrasene
Proreeds fram long �emi Cebt
Repa�.nar� (transten]dlurg tem,CeM-W61ia�w
Dehrme Rnenue -LongTeim N�s
Reins�temenlolp�lorryear 6elances
EquilyTranskrs
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m�rahpsea�]op��mg tb'ss
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l+�w9�tion a} pe0e� i7uesl
lno (G.iny on Irnooneia
Nonopem5ng Rexnue- la�n Fmpiwb`•
flid�em[ipensc
{INCRFASE] UECNFA6E pl OPERA7ING 1LSSER
a�.��.�d mw,a ��m�.
Ocveloper�ec irahahle
C�r�Nabks .
Leldlefd kr ruele
Re�id e¢e�unn .
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lc�mnniwhla
Loro)twmmW receintln
INCRFl,SE (pECRE�,E}IN OPERATIHD LUBWIIE9
A�Inb Payahle
�wde�,�ea,�.
&arly de� PaYeb6
OAuE�h7lies
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Roreeds trom rcuA�ed naerve- Re�la�nd6 (�er.
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lab kH Wr ReesL.lug hmi
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larg Tem� Reminhle-NF
pu�ase al A+M nse6
Ois�ei[unol Iked ¢ue�s
NETGASFfPR0V1�7J BYIXYESTING ACIMfIES
cuK ruw�rsov Flwarn�a umrt�s
rrtnaad aar��m ��q+ye
Eemed tikreY reserve
Poxed� Com 6ng lomdehl
fkpeymnH (trmlen) ol6iq �ermdeM-AfiA tea
�lened flnemie -lmg T�N�a
Fe��le�rck uf P+�' Y� Eihn[a
EquiryTranYeR
METCFSH PR641GE➢ FHOIt FINANGNG ACfIVmEs
NETINCREASE¢Y9-HEASE�W f15HF�10G5N6CLNFI.FN15
aEGNWNG 8l�LWCE OF CASFI ANO fiSHECUNi{,png
EIAiNfiBiIAMCEGSH �M�GLSHEdRYALEMTS
TH� COACHE�LA VALLEY HOUSiNG COAL1T10N
AND AFFILfATES
Consoli�ating Statement of Cash Flows (Continue�)
For the Year Ended September 30, 2017
fa�drLa Va�y
Fknilq Cealition
�Sd.Wnmer� LhMWPs6�er liniMdPanrrt lla4AYwea Lhn3edP�tm
Rm�ismly CewledYa�y Loads9a toshE� C�hedPa�bw L4nMedYan� 7lquepaqueF6u�6y,NC YO�sA�enuc
Ap.n�,e,uc Hmoqm:u6n f�...w.�nc w�.�qca n,q�e.p.qkw�.4�pw,p. m�d.n.c.u:���c ls��euemnn� 11��hqk
Pmi� Fan�y Ca.de'.4Casa� 0 Nara Housuq YAerAwou m�ele SryLge Asaeo de Ln Peebs ilqoepaqu f�emal wmiip
Fp•NnunaLP. Atred.4a Au¢Wn Ho�rsl�•••�� AwNnentsAasedvin A�:odalu 1WrineiE��LLC i....ya.
f�l �ub.�e61 l�Rml IUS1�i (i�e,17s1 (av,1751 l�a1n 4�A�51
- 1117� B.HS �1.665 901,T75 7<,766 727,772 109�tl
- 7M S75 - 7.74` 90B 7LI
79 - • - - ' ' '
• +A+9 n�l +6�� �.us (s.my � a,ry
• c+� a�� nas� r+� r�vn c+a� n•a
- na�l ,se r�r u,s,sy • m9i lffii
• fa+q f.ao f,n4 0.ie� mm �
- �w xet im� . �ta f+�9
- [3W �471 165 1,579 . ��
' �Hp6ti (17R4�1 1&/ ' ' (41i.Uf
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_ � ca�al c�ai �,�ze�% QTm
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- ��u e�i t�css [,�.�1
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• 4.678 fd�f16 . - fi1�5�
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- P�n s,� ,aA�
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f - 1 7c7ya i tu��o 7 �E,7lo 1
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NS�1
�S fi17J
THE COACHELLA VALLEY HDUSING COAL1TlON
�-p� �, AND AFFILIATES
, �
�� Consolidating Stafement of Cash Flows (Continued)
For the Year Ended 5eptember 30, 2D17
L"eni[ed Paro�r
�- ,.
�� .
i�
Arnord�tion af prepaid inrcest Sp5 jpZ
Gaathclla Cemnunefy LonRed Paitrur LimiteO PaMer
Homes, Ir�c, Mxta Flo�esing, Ine, ' Mecw Housing,lnc, Limned Path�er
Las P��ras Ffousing Mecca Famly Housug Martison 5lreet 6 Afl7iat�
Ascociama Ascociates Associa�es Eliminatio� 7ota1
CASH FLOW FROM OPEWl71NG ACT1NTiES
Inwease (Oenease} in nel aeeels 09,771
a r (ez�9+) (s+,sso� ¢E,317) �z,ere)
AEj�s4nen4 [o �econu7e lnnease En nef asseti
ro net rash (used in) operating a�r�Gec _ . _ , _
�epreciaGan e�pense 773,US6 737�55 51,089 . 2�18,7t5
Lvss (Geiny on imestmenm
Ho�npereting Rev�ue-LoanForgheoess
Bad DeL1 Erpe�se
(IHCREASE) UECREASE IN OPER0.T]NG ASSETS
Grents and cbiMect receivables
Devdoperlees receHatde
OSherreceiva6les
Land held for resale
Repeid e�pendgrres ,
o�o��
Laarrs receira6Ses
Lon9 �� notes rcceMedes
INCREASE �pECAEASEj IT! OPERAT[NG LIABILITl6
Accoun� peyeble
Aco�cd emendi6�res
Securlry depusin peyehle
09�er I'ia6flifies
Lae� payalNe
6eferted Rbvmue
NtT GASH (USFD INJ OPERA71N0 ACTlVIT1E5
CASH FLOYYS FFjOM IHVE"a17NG ACTMTIES
Paymen�alTrerrslere ta resvicted rese�ve
Procee0a Gam restr3cied reserve -kepalrxmml 6 Oper.
aroceeds end Paymems to Tat d Irrs�rence Reserve
PsaceedstTrercsFeB N Operedng Savinps
Lend held for Resie - Long Term
imes�ementln alflfates
CapM1al lmprovements - ASF
L�g Trrm ReceNa6les - MF
Pu�tse of fixed esse2s
�SspasitiaM1 of Tved asse�
HET GASN PRONDEU SYINVESiIN6 ACTNlfIE$
CASH FLAW FpG61 FINAl3G�N6 ACTYVRIES
Pnncipal peymeMs on mortgage
Eame7lnleRsireseNe
Proceede homlong rerm de6t
Repaymen4 (tremfers) of loRgtesm debt-PfiGetra
DeknM Rerenue • Long THm Notes
ReFnsptem'nt oTptlaYear balances
Ep�iy 7rensfen
NET GASX PAOYI�EO FROM FINAHCIN6 AGi1VR1E5
NET INGREP,SE (UECREASE) I[e GASH AN� CA+H EGlfl1lALENT^
BEGINNIN� BALANCE OF CASH AHU CASIi EquNALEHTS
E(fO1NG 6AlAHCE C0.SH AND CASH EOH71/ALEHfS
S
4,955
[769)
nxrol
{541)
3I3
80{
72.791
1,T]i
21,925
{77,868}
R.ia77
�0�9��
Q�.<�)
a+.+a.�
(a.54f)
1`r�2t7
Tj7,677 i
�O
(E,944)
I9.1��}
(16,322)
2�95
964
15�25
8�75
4,593
37�17
{N8,1 B&}
{a,eso�
�1,&64.39Z)
(2,318,44a)
{2,�f3j
1,371,7�7
965.373
2,351,707
73A81
73,491 S
�3 809)
p,sso)
(76,46i)
ss.no
652
�s o�e
30,St2
535
14�95
{36�,450}
(5,058)
¢,74A,1�S}
(2,483,697)
7,439,128
8a3,927
2,461,355
43,953
/3y53 S _`
- 3,7i5
- QB,31tJ
28,3i7 28,311
' �%5�18]
- 336.994
' i257.763J
- 4,783,2i6
- �tz400�
- {56,084)
- [6l9.7Q97
- �os.s2s
- 13,OS7 '
- 28.784
- @fi2.995)
- 167,900
- 44�54
- 2,275�47
- Q23,695)
- �73,407
- [26,{31 j
- 2 702
- (T68,52s�
- 508,606
' (3.967 667)
- (1,575,398)
- (861,712)
- (t5,65t}
- 3,596,947
- (Y200,004j
- {485�62)
- 1,629.300
- 2,953,476
- 503,679
- 15,553�89
• 76,056,968
,�ti
�
REPORT T(J MANAGEMENT
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�ENT°AUDITOR'S. REPOfZT ON� INTERNAL �CONTR�L OVER -�'�
,.,. . .. . .. < ... . . - .:
�ORTI.NG,AND.ON COMPLlANCE AND::OTHER:MATTERS.BASED._ - . :° �,, ._�; '
�:QF �INANCIAL S�ATEMENTS.PERFORIVIED<1N ACCORDANCE � --� � � _ �
'� WITH� GOVERNMENT AUDITlNG STANDA�RDS.:•: : . � - . � . _
. .. . �' _ -
:tors-« � . - _ ��.. .. = -
_r, < .
. . ... : .. -
Ho�sing Coslition�; Inc, . _ .'�. `� � � =- � � � � � � � �
..�, _,�:
._., „
accordar�ce-wiih��the` auditing stanciarcis generally.; acceptecl�'in. fhe United _ �-
ic1 the. standardslapplicable-=to� fnancia!~ audits confain�d in Goveriamerrt. .. �'. : -_
.:. ;,.... .. - . ... . . .
;su_'ed tiy:.fhe,_Cornptroller:General� of tH'e United:States, the consol�datetl ��� T-_. •:
if,.The;:Coache[Ea'Valley"Housing Coalition,� Inc. (a ��on�iro�t organization) . .
oi�izprise`:�hs�_consolidated"staterrients of financia[ '�osition as of Septei�riber -
::- . - :- • � _ ,.
�ted::consolidated•s#atements of acti�ities.and,;cash fl.ovvs for tF�e.year.:..then � . ��� . .-•� .-.m
. , ,� . : � :.- � �.
�-notes io the`�cansolidafed financial stafemen�s, and �iave issued�dur repart ,
iy �, 2038. We cortducf�d our audit'in accordance with auditing:standards _
. . .: _ .. .. :- � ..
r;ihe Unitedm5tates of°America anci the s�andards.,applicable..to fi�ancial -
�overr�ment�Audrfrng.Standan�s`isstted Eiy ttie,�omptrollei'�General of �fie ,- - ��
�irianciaj;�statemen�s-of ti�e aff�fiates, were not'�audited in� accordance: v,iith' -
Sfandards:and'acco�c�iriglythis:report does rtot include reporting or� iriterna! __ -
�`�epo�#�ng or� instar�ces af reportable noncornplianCe�,associatec� w�th ihe
F , �- . f ,!- ' ' `?.., .1� � .E'�
iai =Re� `ortin� � .. . : . - -
��Fi�riaric .P. ..9."` <,�"
- :�: � - ::r � _ . _ - _ -
- iidated financial statemerits:°;we'�c.onsidered�TFie;::.'�� - -
�mirig our �aud'it'of tFie: coriso ,.., .
sing Coal�fian,=lnc's�iriternal confro! cs�erfinancial repa"rting'�internal controi)�, ,� < <
. . ... . : _- . _, . ... _
. . . ., : . ... . .
�t:;procetlures�#hat� a�'e_ app�opriate in tF�e. circumstances for`the purpose`�of ', '�
�i� on :the �-consolidafed � finaricia] statements; . but not ,for;�t�ie pu�pase,:of.;�.�"" .
r� on t1ie��effecti►ieness of; The Coachella VaEley Housing�,Coalitron, tnc:':s_ ``�=�,�
rdingly,�we do��not'ex��ess an opinion on`:the effectt�eness of The Coachella T �
ion, Ir�c:'s inteTnal controL� , � , ' • "� ,
.:;.. - . � ... � � • ,- �-�
.; ,; <,�„_ _, , : . _ �:,.
a[}cvntrol �exists wheri �the`'design; or operatEon• of �a;control does.,rio.t.aflow '
. . ,._ _: �. :: .: . . ,, ,. : ..
iloyees,��n,.the°:normal:_course,�of�,perform�ng��theif;�assigned� functions,' t�` � _,.
�d cor�eet, �misstatements'�"on a -�imely basis: "A rriaferial"`weakness �s a , �
',.:.: - . T. � .� , a __ _ __, f _ _ _ _
�i�at[ori` of:defcienc�es;:fiintemal. confro[, suc}i that tf�ere is.a� reas�nable :
;raal�'iYiisstatement�of�fhe�ent�ty's�fnanc�alkstatemehts-will not.b�„preve�i�ed;:;-�„'�;:�.;:.;'- �
rected an a timely,;basis.'�'�A srgnifrcarif;;defrciency�-is a deficier�cy,, or a,� �
�nci�s„in internal control�that is less seve�e�tlian a materiat weakraess ,yet , {_ �
nerit atientiori:iiy_,those cfiarged w"i�h-gove�nance'. ,
,, � ; ; ;, , : ;� . .:. .' ; : , � ' :
f '
iiiternal cbnfroi was..for the.l�m�ted, p�irpose desaribed �in the f rst paragrapfi ; °=
' )-.xu f• 3 ,
as not desigraed to� idenfify a11 deficiericies iri� internal;:coritrol _fha� mrghf be
,-
-�orsig�if�canf.defciericies "�Gi�en-.tli��se'limita#iohs;�c[u�mgour,audit�wetl�d' F =
:� : _ - . . .
s�encles� in� iriferRal�confrol..t}iat.we•.consider�to be material Weakriesses= F
_
�" '�:. :' - ��been identifecl:� `,`.s�,..`.,,
.akr�esse`s may;ezist.tliat;�ia�e.not . „
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°.`:` : :`;; ,�As='` art .of...obt��nf�i ` r�asor�a�le• assiiratica;: about °_whetner;:. ., .�: .:. ...��. � � ..��. � .
� ,: _ � P,. .. . . . . , . 9:... . . . . The. Cc�ach�ila Vall�y ,Housing " `��' : :�
, . .;. ... . . . ... .. . . _ _ _, .. .. .. . . _ . .�
� ,� ;� ;.. Coal�tia�;;: lna:'s.'.:cor�soiida�ed::.financiat:.�statemen�s:'�re free fram �,mat�rial. misstatemer�k,; �re •
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. •:�;:;': ';' pe�foiin::tests af �its.com liance with�.cer'tain � rovisio'ns:.o�� iaws t�e �'ulatiion's : can�ract`s . �nd. rar�t=: ::- .
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� , -., • nce_, :witH� •i►uhich `coutd.:'have a dire�t;�'and`>;:rr�at�ria!°: �effec�� an :��e:.::.::.
- , . .agreements ;noncornplEa... ,. .: • :- .....,. ... .
;. . . ... . . :. . _. � : ... .;, , :, , . . .... . . . , . •
.�: � determina�ion�af finar�cia(�statemen# amounts �H4wever, prvvidmg an'�opinion on c:ampGance wifh.:�>> `��
�
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�.:. : those�pr�vtsions was not an:objectEve af:nur_audit,;and�accord�ttgly; ;we:;do;snot expr�ss:su�i any�•;:: �: .
. . _. . .
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�°. ,;opinion: 'i'he:rest�lt���f�our.�esis;;disclosed=��io instances af rioiica�npliance ar:aii�er:rria�ters.=fhat
,.. , .
. . . . _. _ . . . .. .. . . .
: � - - ��a�e rec�'wred,�to;lis repo�ted�.unde� Goverrtmenf°Auditiiig,Standardsr:� . � -
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.. �' Reporf on� internat�;�ontrol.Oder Comp{iance.;. . ..'� � �. � . . ` . , � ,� : - - � . . � - -
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. . . . , . . . . ... _ ._ . . .
�.' :�maintaining:effective-in#emal.cortiml:o�er-compliaiics.vtiri�h the�types of,compEiance;requirements ` -
�.refe�red'to"above.;;.(n�:planning ;and perfarming our•audi�-`af: compfia�ce;`�w�".�consiifer�d The ' � - � �
- Coache�la Valley Ho�asing;_Coaii6on,:inc.'s:intemal:cantrol:.over�compliance;�w�ih:.the:types of
� �:req�i�ements..tt�a#� could, �ta�e a �direct:ar�d•:matei�al,.effect �ori��,each• majo�. federa(:�pTogram�,ta
� , � .:deferrnine_,the a�iditing.procedures #hat�ar�_'appropriate;ln;the•�ircumstarices for�rit'he purpose` of- � �
^ ntemal.�control over..corriRlia ce iR acco.rda ce witl� iFie.0 form Guld ��� b�tii:test�and �report��on �', �.-_�
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;, . ._. R . . . � .. , ., . .. . _ . . . _ .. , u,t;not fo�r #t�ie �urpose�.. ;• _ � . � .
, , of,expressing; an .opinion on the� effectiveiiess��af.iritemal; crmtrol: ov�i�. catnpJiar�ce: ��i4ccordingty, ;•� ��
: we do not. express:an;opmion on khe eifectiveri�ss-of-Tfze:.C.aachella:Ilalley:Housing' Coaiition, �
. ' ' Ir�c.'s interr�al control over compliance.,: ..; . = . . , • . ; . � . . ' � - ' • . . ' . � . � � _
� ,' ��A,de�rcierrcylrr in[emalcontrol,overcoinpliance��exista�wiien�t�ie,design.o�;opera�ori of`.a`control, •� . �
.', ,. over comptiance does r�ot allow,,managem:ent.o[ emp��yees; ir� tha,:rtiormal:�cour5e o# pei�orming ;
.. ..� .:theit:.ass.igned';�f�netion5,�.:to : prevent,::;or:�detect ai�d:,-cdrrect, :;nonrbmpliance.::with a.:,tyPe:, of. ;�:�.� . :: . .
.. . . . . .. .
. ..
``.coinpliance:requirement:of`a f�deral�p;ragrairi on:a:t€melyE3asis:�;:A:material,�weakrxess�in;inierna/ . � �
.. . . .. . . .�., .
,.�conirol:over. campJra�c.e;i5,a'�eficiency;;or:combination of.�defic�encies,::in:.intemal control�:over�. ' �-� '
• '�compliance,_such tf�at:there�is�a.reasbnable�poss9bilitythatrriateiiaf noricompiiance�witFi�a type of�� � -
, � coinpliance'req�irement,of a�.federal �rogram.will not�be:preve�rifed; or�detected�and _co�e�c�ted, on � ��• - �'
a•timely.,basis. A.signi�tcant de�'ciencyirr irifernel cori[rol over �amplianc�,is a defcc�ency;.�;or a, . •
combinatian' of °deficiencies;: �r� ir+terria� ,control .aver' corripliance ,'w�th, a, type : of �compiianca . .� - �
. . . . .. , , - -
. . requirerr��nt af:a.federal:pror�ram tt�at is less=;sevare�.#fian a material�vireaknass:in:internai;control• `' �-
.. . . . .. .. :.. : . .
•� �:�:.:�aver.c�mpiiance,.yet�'impartant:eno�gh:to.�rierit.atteiitioriby;fhnse^cFiarge�`v�riifi��goverriance:` � -. • - �. .
,. . . . . .,.�.... . ., . . , . . . . . . . . . -
'-:Otir`corisid�ratiori�of:inf�ma�:cont�at.over:cor� # a� � ` �
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._ _ . rice`was�for�tl�e�limifetl,purpas'
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.. .. ,. .:�: -
�.:first:paragraph:of�#his=seciiari;and:was nat;desi ned io`ider�'. ' , . ... �. .. �:> . . � �=; �
• g t�y all,cleficier�cies in„i�temai;control:;:.. : �
� . ,nver.cofnplisnce that.mrg�t:bs:rriat�rial weakriesses or;sigrtificari�deftciencies .Wg.d�d rrot�id�ntify,.:. : �: : . '
. . .. . . . . ...
. . ._,.. .. ..
� ariy..;deficlerlcies in�.iritem�t contral.orie��compliance'.thatwe_cansider�ko.be:mater�al�wea��issses. • � �
•, � ' However;,.materiaGweaknesses mayexist_.fha# iiave �not�h'een: iden�fied: '� . ' . . � � .. � . = � ' ': � . . . .
' ., � ; Purpose, of this�Re�ort_� . .: : ..�.. : , �. . , `.. ... .. ..� . . . . . ,., � ' . " - . . .. . ,. .. . _ .
.. . : .
. . .... : -
. , .., . . .. . . - -
:. � _ . �_.. . .., . . ... .
Tlie'p�rpasa�of'this�report on intema� control-over.compliance�is�5olely':�to desctibs,the sca�e of� .
aur.��iesfl�g of. intemaf r,ontrok over� compiiance`and ��ie���es�f�:-of_�•ihat='testir�g_;�6ased_ an;: fhe .:-.
.�recj�iir.ements.the Uriiform Gvidar�ce: Accoidingly;�this report,is;i�ot suitaEils:for any. o#�er pur�iose: �' .-
.� - ......'r �,.. .. �� �;...� .....�... _.� . •- . ., ..., ... .. . • : '.:
, •. .� .. • ..,• �-.. . . .,. .. . ..
. Pa1m�Dese�t'- Calif mia . . � . . . �.�� ` • : . . ' ' • .� ' . . ' , � � . ... ... . . � . .. . .
� , . _ � � ._ .. . . . . , � . - -
, �February>T.2018 � � . � .. . _' - � . . � . � ; . ...- . . , � . , -�� ' _ � .
. ' . , .. - � , , .. . ,. . � .,� � .. . . . . . • - , �,
� . . � . . ' : . . - . ; . ' � . -:. .. �. . _ ; . , „ ; . , _, . , . .... .� � .:�� .., � . .' . . —�
� .. : _ . . . _ .--7� : . .. . .. ' .,• ...�... . ,..� .
THE COACHELLA VALLEY HOUSING COALITION
��-� AND AFF�LIATES
Schecfule of Findings and Questioned Costs
Year Ended September 30, 2017
Section i- Summary of Auditor's Results
FinanciaE Statements
Type of auditor's report issued: Unqual�ed
fnternal control o►rer financial reporting:
Material weakness{es) identfied? Yes X No
Significant deficiencies identified
not cor�sidered to be materiaE weaknesses? Yes X No
Noncompliance material to financial statements noted? Yes X No
Federal Awards ,
InternaE control over major programs: �
Materia! weakness(es) identified? Yes X No
Significant deficier�cies ident�ed
not considered to he material weaknesses? Yes X No
C� �~ l' ;�
Y Type of audit report issuecf on cam�liance for
Majar Qrograms: Unqual�ed
Any audit findings disclosed that are required to be
report in accordance witt� Uniform Guidance,
Sectior� 200.516(a)? Yes X No
ldentification of Major Programs:
10.405 Farm Labor Housing Laans snd Grants
40.420 Seif-Help Technical Assistance
10.415 Rura! Rental Housing Loans
10.�427 Rural Rental Assistance Payments
Dollar thres�old used to d�stinguish be�irveen
Type A and Type B Programs: $750,QOQ
Auditee q�talified as low-risk auditee? X Yes No
Section Il - Financial Statements Findings
None
Section EEI - FederaE Awards Findings and Questioned Costs
Nor�e •
�-�
_ �
- �_ ,,.
76
Contract No. C36510
EXHIBIT A
City of Palm Desert
Request for Proposals for Self-Help Affordable Housing Development