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Title:
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Resolution authorizing the execution and delivery of a multifamily housing revenue note (tax-exempt) in a principal amount not to exceed $21,750,000 and a multifamily housing revenue note (taxable) in an aggregate principal amount not to exceed $20,000,000 for a total not to exceed amount of $41,750,000 for the purpose of providing financing for the construction of a 95-unit multifamily rental housing development known as “967 Mission”; approving the form of and authorizing the execution of a funding loan agreement providing the terms and conditions of the loan from the funding lender identified therein to the City and for the execution and delivery of the notes; approving the form of and authorizing the execution of a borrower loan agreement providing the terms and conditions of the loan from the City to the borrower; approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants; approving the form of and authorizing the execution of an assignment of deed of trust and loan documents; authorizing the collection of certain fees; approving modifications, changes, and additions to the documents; ratifying and approving any action heretofore taken in connection with the back-to-back loans, the notes, and the project; granting general authority to City officials to take actions necessary to implement this Resolution; and related matters, as defined herein.
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