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Title:
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Resolution approving and authorizing the execution of a Loan Agreement with Maceo May Apts, L.P., a California limited partnership, in an amount not to exceed $24,255,000 for a minimum term of 57 years, to finance the construction of a 100% affordable, 105-unit multifamily rental housing development (plus one staff unit) for low and moderate income veteran households (“Maceo Project”) at 401 Avenue of the Palms; 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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