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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 Agreement with the California Department of Housing and Community Development (“HCD”) under the Affordable Housing and Sustainable Communities Program for a total award of $29,585,486 including $19,610,404 disbursed by HCD as a loan to the Balboa Lee Avenue, L.P. for a 100% affordable housing project at 11 Frida Kahlo, also identified as Balboa Reservoir Building E, and $9,975,082 to be disbursed as a grant to the City for public transportation improvements near 11 Frida Kahlo, for the period starting on the execution date of the Standard Agreements through November 30, 2042; and authorizing MOHCD to accept and expend the grant of up to $9,975,082 for transportation, streetscape and pedestrian improvements and other transit oriented programming and improvement as approved by HCD.
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