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04. April
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2026-04-21 10:00 AM - Commissioners' Agenda
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K - Fully Executed
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Last modified
4/30/2026 9:39:05 AM
Creation date
4/30/2026 9:38:29 AM
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Meeting
Date
4/21/2026
Meeting title
Commissioners' Agenda
Location
Commissioners' Auditorium
Address
205 West 5th Room 109 - Ellensburg
Meeting type
Regular
Meeting document type
Fully Executed Version
Supplemental fields
Item
Request to Approve Amendment 4 - HopeSource-CIP (Teanaway Court/Cle Elum Build)
Order
11
Placement
Consent Agenda
Row ID
143720
Type
Agreement
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a. No tess than five (5) units shal,l, be reserved for househotds who are homeless at the <br />time of occupancy as defined bythe Department of Housing and Urban Devetopment <br />('HUD') at 24 C.F.R. 578.3 for a period of no less than forty (40)years. <br />b. One (1) of the five (5) units set aside for households who are hometess at the time of <br />occupancy shatt be restricted to a househotd with an annuaI househotd income of no <br />more than fifty percent (50%) of the Area Median lncome for Kittitas County as <br />determined by HUD for no less than forty (40) years. <br />4. HopeSource shatt cause an affordabte housing covenant evidencing the Use Restriction to <br />be recorded against the Property for the benef it of the County and in a form approved by the <br />County ("Covenant"). <br />5. HopeSource shatt market and rent the five (5) homeless-designated units through <br />Coordinated Entry referrats, supptemented as needed by direct referrals from locaI agencies <br />and shetters. <br />6. The County funding is conditioned on HopeSource comptying with the Covenant and this <br />Grant Agreement. lf HopeSource faits to compty, HopeSource shatl be required to repaythe <br />county the totaL amount of the award pursuant to the terms of a promissory note. <br />7. HopeSource shatt reloan the proceeds of the County funds to Teanaway Court Associates <br />LLLR the tax credit partnership who owns the fee simpte interest in the Property and of which <br />HopeSource is the managing general partner ("HopeSource Loan"). The HopeSource Loan <br />witl, be evidenced by a promissory note and deed of trust, which HopeSource witl assign to <br />the County as securityforthe Countyfunds. <br />8. Except as specif icatty set forth herein, the Amended Grant Agreement is and remains in futt <br />force and effect and binding on the parties. <br />9. HopeSource acknowtedges that it has the authority to enter into and perform its obtigations <br />under this Fourth Amendment. <br />10. This Fourth Amendment may be executed in one or more facsimiLe or pdf counterparts, each <br />of which shaLl, be deemed the originat, but which together sha[[ constitute one and the same <br />instrument. <br />1 1 . Att other terms of the lnitiat Grant Agreement remain unchanged and in futl force and effect. <br />lN WITNESS WHEREOF, the parties have executed this Fourth Amendment as of the I'atest date <br />written below. <br />Kittitas County Amendment to: lLA, AGS, lnterDept. MOU (8128125l' <br />Page 2 of 3
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