AND REGULATORY AGREEMENT FOR COMMUNITY SUPPORT
NETWORK’S DUTTON HOMES - 1548, 1550, AND 1552 DUTTON
AVENUE.
BACKGROUND: Community Support Network’s (CSN) Dutton Homes is
an existing single-family dwelling, and a duplex comprised of eight (8)
beds located at 1548, 1550, and 1552 Dutton Avenue (“Project”). The
Housing Authority has a loan on the property, in the principal amount of
$128,000, maturing on November 26, 2026, and a Regulatory
Agreement securing affordability for the same term. CSN is currently
unable to repay the maturing loan coming due and is requesting to
extend the term by thirty (30) years from November 26, 2026 to
November 26, 2056, and continue operating the Project.
RECOMMENDATION: The Housing and Community Services
Department recommends that the Housing Authority, by resolution,
approve an extension for the maturing loan, in the principal amount of
$128,000, and Regulatory Agreement for Community Support Network’s
Dutton Homes located at 1548, 1550, and 1552 Dutton Avenue, to
extend the term by thirty (30) years from November 26, 2026 to
November 26, 2056.
Attachments:
12.3
REPORT - REPORT - APPROVING SUBORDINATION OF THE
HOUSING AUTHORITY'S LOANS TO A NEW FIRST MORTGAGE
FOR ASTON AVENUE APARTMENTS - 623 ASTON AVENUE.
BACKGROUND: On November 24, 2025, the Housing Authority
conditionally approved the transfer of ownership of Aston Avenue
Apartments, 623 Aston Avenue (Project) from Sonoma Community
Action Network (Sonoma CAN) to Crosscourt Properties and the
assumption of the Housing Authority's Regulatory Agreement, Density
Increase Agreement, and loans, in the in the principal amount of
$558,071, by Crosscourt Properties, including an extension of these
loans from December 31, 2032 to June 2, 2061 to align with the terms
of the Regulatory Agreement. Sale of the property is scheduled to
close by August 1, 2026. Crosscourt Properties will be financing the
purchase with a first mortgage in the approximate amount of $600,000,
and is seeking the Housing Authority’s approval to subordinate its