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Title:
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Resolution approving and authorizing the Director of the Mayor’s Office of Housing and Community Development to execute an Amended and Restated Loan Agreement with Sunnydale Block 7 Housing Partners, L.P., a California limited partnership, for a total loan amount not to exceed $18,050,000 to finance the construction of a 89-unit multifamily rental housing development for low-income households, which will be known as Sunnydale HOPE SF Block 7; and adopting findings that the loan agreement is consistent with the adopted Mitigation Monitoring and Reporting Program under the California Environmental Quality Act, the General Plan, and the eight priority policies of Planning Code, Section 101.1; and authorizes and delegates to the Director of MOHCD and/or the Director of Property, and their designees, the authority to undertake any actions necessary to protect the City’s financial security in the Property and enforce the affordable housing restrictions.
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