File #:
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160855
Version:
1
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Name:
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Multifamily Housing Revenue Note - 655, 711-795, and 895 Pacific Avenue - Ping Yuen - Not to Exceed $98,065,000
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Type:
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Resolution
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Status:
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Passed
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On agenda:
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Final action:
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9/14/2016
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Enactment date:
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Enactment #:
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371-16
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Title:
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Resolution authorizing the execution and delivery of a multifamily housing revenue note in an aggregate principal amount not to exceed $98,065,000 for the purpose of providing financing for the acquisition and rehabilitation of a 234-unit multifamily rental housing project located in the City at 655, 711-795, and 895 Pacific Avenue, commonly known as Ping Yuen; approving the form of and authorizing the execution of a funding loan agreement providing the terms and conditions of the note and authorizing the execution and delivery thereof; approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants; approving the forms of and authorizing the execution of certain loan documents; authorizing the collection of certain fees; ratifying and approving any action heretofore taken in connection with the note and the project, as defined herein; granting general authority to City officials to take actions necessary to implement this Resolution, as defined herein; and related matters.
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