File #: 240992    Version: 1 Name: Multifamily Housing Revenue Note - 750 Golden Gate Avenue - Not to Exceed $32,132,689
Type: Resolution Status: Passed
Introduced: 10/8/2024 In control: Clerk of the Board
On agenda: Final action: 11/7/2024
Enactment date: 11/7/2024 Enactment #: 552-24
Title: Resolution authorizing the execution and delivery of a multifamily housing revenue note in one or more series in an aggregate principal amount not to exceed $32,132,689 for the purpose of providing financing for the construction of a 55-unit multifamily rental housing project known as “Golden Gate Avenue Phase 1 LIHTC”; approving the form of and authorizing the execution of a funding loan agreement providing the terms and conditions of the loan from the funding lender identified therein to the City and for the execution and delivery of the note; approving the form of and authorizing the execution of a borrower loan agreement providing the terms and conditions of the loan from the City to the borrower; approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants; approving the form of and authorizing the execution of an assignment of deed of trust and related documents; authorizing the collection of certain fees; approving modifications, changes and additions to the documents; ratifying and approving any action heretofore taken in connection with the back-to-back loans, the note and the project; granting general authority to City officials to take actions necessary to implement this Resolution, as defined herein; and related matters, as defined herein.
Sponsors: Mayor, Catherine Stefani, Rafael Mandelman, Dean Preston
Attachments: 1. Leg Ver1, 2. DRAFT Funding Loan Agreement, 3. DRAFT Borrower Loan Agreement, 4. DRAFT Regulatory Agreement, 5. CDLAC Resolution No. 24-161 080624, 6. Dec. of Intent 042224, 7. TEFRA Hearing Minutes Multiple Projects 082824, 8. Proof of Publication Multiple Projects 082824, 9. Form 126, 10. Cmte Pkt 103024, 11. MOHCD Presentation 103024, 12. Board Pkt 110524, 13. Leg Final, 14. Form 126 Final
Legislation Details
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