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Page 1 of 2 <br />Public Health Office “Study Session Staff Report”, 12/23/2024 <br />KITTITAS COUNTY <br />BOARD OF COUNTY COMMISSIONERS <br />STAFF REPORT FOR <br />STUDY SESSION <br /> <br />Public Health Office <br /> <br />STUDY SESSION DATE: 4/21/2026 <br /> <br />TOPIC: Teanaway Amendment #4 <br /> <br />ACTION REQUESTED: Approval <br /> <br />LEAD STAFF: Chelsey Loeffers <br /> <br />RECOMMENDATION: <br />Kittitas County Public Health Department recommends approval of the documents created by <br />Pacific Law Group to move forward with an amendment for the Teanaway Project via <br />Hopesource. <br /> <br />BRIEFING SUMMARY: <br />• New agreement amendment includes changes to the total amount of units and the area <br />median income (AMI) used for the project and extends the term of the agreement. <br />• Additional documents were included by Pacific Law Group to the amendment and they <br />include the following: <br />o Covenant, which governs the use of the property to specific units, AMI, and <br />timeframe of the covenant. <br />o Deed of Trust and Promissory Note including reloan language, which enforces <br />repayment along with evidence to pay a monetary obligation to the county. <br />Reloan terminology allows Hopesource to forward funding to Teanaway Court <br />Associates LLLP. <br />o Priority and Subordination Agreement, which manages the repayment order of <br />multiple potential liens on the property. <br /> <br />BACKGROUND: <br />In 2021, Kittitas County executed an agreement for services with Hopesource. This is the fourth <br />amendment to that agreement as the project as changed with funding sources Hopesource used to <br />finalize the project. Project initially had more units and lower AMI requirements, but due to <br />funding and the need for sustainability with a changing affordable housing market, Hopesource <br />requested changes to the total number of units and an increase to AMI. <br /> <br /> <br />