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Title:
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Resolution approving and authorizing the Director of the Mayor’s Office of Housing and Community Development (“MOHCD”) with Hazel Eddy Woolsey LLC to execute documents relating to a loan in an aggregate total amount not to exceed $11,595,214 to finance the acquisition, rehabilitation, and permanent financing of three existing affordable multifamily rental housing projects for low-income households, known as the “Bernal Bundle” consisting of a total of 26 residential rental units and two commercial units in three buildings located at 1652-1654 Eddy Street, 3554-17th Street, and 195 Woolsey Street (collectively, the “Project”); affirming the Planning Department’s determination under the California Environmental Quality Act; adopting findings that the Project and the 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 or his or her designee to execute the loan documents for the Project and make certain modifications to such loan documents, as defined herein, and take certain actions in furtherance of this Resolution, as defined herein.
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