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6.3G <br />Page 13 <br />organization that matches non-profit groups with insurance industry investment capital <br />as a way to stimulate neighborhood revitalization. <br />Construction financing for both the residential and retail was provided by Mid-Peninsula <br />Bank as an unsecured line of credit <br />Cotma Ridge <br />85 Reiner Street <br />Colma, CA <br />Management Company: Mid-Peninsula Housing Management Corporation <br />Services Partners: County of San Mateo Mental Health Services, Caminar <br />1996-present <br />In 1991, Mid-Pen started working with San Mateo County to develop a community for <br />20 low-income mentally-ill persons who were able to live independently. <br />The site is located in the Colma and is near services, public transportation, shopping and <br />other local amenities. The site is a block from the Colma BART station and was zoned <br />to allow the density required for the project under the BART Station Specific Area Plan. <br />Caminar/CLC, in partnership with the County of San Mateo County Mental Health <br />Department, provides quality comprehensive services to all residents. <br />To provide a security assurance to surrounding neighbors, especially the Holy Angels <br />Elementary School, applicants are very carefully screened. In its eleven years of <br />operations, Colma Ridge has never been associated with any negative incidents. Over <br />the course of many community meetings, the County Board of Supervisors maintained <br />its support for the project, which has proved to be a good neighbor in the community. <br />Development Cost & Financi <br />Applications were made to the County for funds to cover the costs of the project not <br />covered by the HUD capital advance of $1,983,400. The County loaned funds from <br />both CDBG ($439,090) and the County Mental Health Acquisition Fund ($227,000}. <br />The original loan of $666,090 from the County was increased to $949,052 to pay for <br />environmental remediation. <br />There are Regulatory and Use Agreements with HUD as wel! as a Project Rental <br />Assistance Contract (PRAC}. The latter is like Section 8 rental assistance and states <br />that HUD will cover the operating costs, which do not include any interest, since no <br />loan repayments are to be made. <br />7 <br />