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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 $45,721,399 including $33,000,000 disbursed by HCD as a loan to the Balboa Gateway, L.P. (“Developer”) for a 100% affordable housing project at 11 Frida Kahlo Way and $12,721,399 to be disbursed as a grant to the City for public transportation improvements near 11 Frida Kahlo Way, for the period starting on the execution date of the Standard Agreements through November 30, 2043; authorizing MOHCD to accept and expend the grant of up to $12,721,399 for transportation, streetscape and pedestrian improvements and other transit oriented programming and improvement as approved by HCD.
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