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Title:
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Resolution authorizing the Mayor’s Office of Housing and Community Development (“MOHCD”) to execute the Standard Agreements with the California Department of Housing and Community Development (“HCD”) under the Affordable Housing and Sustainable Communities Program for a total award of $47,579,100 including $35,000,000 disbursed by HCD as a loan to Mercy Housing California 109, L.P. for a 100% affordable housing project at 1939 Market Street and $12,579,100 to be disbursed as a grant to the City for public transportation improvements near 1939 Market Street, for the period starting on the execution date of the Standard Agreement through December 10, 2080; and authorizing MOHCD to accept and expend the grant of up to $12,579,100 for transportation, streetscape and pedestrian improvements and other transit oriented programming and improvement as approved by HCD.
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