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Title:
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Resolution authorizing the execution and delivery of multifamily housing revenue notes in one or more series in an aggregate principal amount not to exceed $19,000,000 for the purpose of providing financing for the construction of a 68-unit multifamily rental housing project located at 1303 Larkin Street, known as “1303 Larkin Street”; approving the form of and authorizing the execution of a funding loan agreement providing the terms and conditions of the construction loan from the funding lender to the City, and the execution and delivery of the notes; approving the form of and authorizing the execution of a project loan agreement providing the terms and conditions of the construction loan from the City to the borrower; approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants for the project; authorizing the collection of certain fees; approving, for purposes of the Internal Revenue Code of 1986, as amended, the issuance and sale of residential mortgage revenue notes by the City in an aggregate principal amount not to exceed $19,000,000; approving modifications, changes, and additions to the documents; ratifying and approving any action heretofore taken in connection with the funding loan, the project loan, 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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