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Title:
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Resolution approving and authorizing the Mayor and the Director of the Mayor’s Office of Housing and Community Development (“MOHCD”) to execute a grant agreement with Chinatown SRO's, LLC in the amount of $6,209,204 for a 15 year and 6 month term to provide operating subsidies for a 100% affordable housing project housing extremely low-income households, most of whom are seniors, effective upon approval of this Resolution; approving the form of and authorizing the execution of the grant agreement; granting general authority to City officials to take actions necessary to implement this Resolution, as defined herein; and to authorize the Director of MOHCD to enter into amendments or modifications to the grant agreement that do not materially increase the obligations or liabilities to the City and are necessary to effectuate the purposes of the grant agreement or this Resolution.
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