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Title:
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Resolution approving for purposes of the Internal Revenue Codes of 1986, as amended, authorizing the execution and delivery of a multifamily housing revenue note in one or more series in an aggregate principal amount not to exceed $53,305,000 for the purpose of providing financing for the construction of a 89-unit (including one manager unit) multifamily rental housing project located at 65 Santos Street, known as “Sunnydale HOPE SF Block 7”; 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 to the City, and 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 Sunnydale Block 7 Housing Partners, L.P. (the “Borrower”); approving the form of and authorizing the execution of an amended and restated funding loan agreement which amends and restates the funding loan agreement on and after conversion; approving the form of and authorizing the execution of an amended and restated borrower loan agreement which amends and restates the borrower loan agreement on and after conversion; approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants; 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; and related matters, as defined herein.
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