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Title:
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Resolution approving and authorizing the First Amendment to the Loan Agreement between the City, acting by and through the Mayor’s Office of Housing and Community Development (“MOHCD”), and 1234 Great Highway LLC to finance predevelopment costs associated with the development of an approximately 216-unit multifamily residential project affordable to low-income and formerly homeless seniors, including a commercial shell for community serving space (the “Project”) on the property located at 1234, 1270, and 1280 Great Highway in a total amount not to exceed $27,248,500; adopting findings that the Project and proposed transactions are consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1; and authorizing the Director of MOHCD to make certain modifications to the Loan Agreement, as defined herein, and take certain actions in furtherance of this Resolution, as defined herein.
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