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Title:
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Resolution approving and authorizing the execution of a Loan Agreement with MHDC South Park Properties, L.P., a California limited partnership, in an amount not to exceed $28,312,966 for a minimum term of 55 years for a portion of the loan amount and a minimum term of 40 years for another portion of the loan amount based on the requirements of the funding sources, to finance the acquisition and rehabilitation of a 108-unit affordable multifamily rental housing project for low income households, consisting of three structures located at 22, 102, and 104-106 South Park Street; and adopting findings that the Loan Agreement is consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1.
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