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Title:
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Resolution authorizing the execution and delivery of multifamily housing revenue notes in one or more series in an aggregate principal amount not to exceed $76,000,000 for the purpose of providing financing for the construction of an 85-unit multifamily rental housing project located at 160 Freelon Street, known as “160 Freelon”; approving the form of and authorizing the execution of a funding loan agreement providing the terms and conditions of the construction loan from the construction funding lender identified therein to the City and for the execution and delivery of the construction note; approving the form of and authorizing the execution of a borrower loan agreement providing the terms and conditions of the construction loan from the City to 160 Freelon Housing Partners, L.P. (the borrower); approving the form of and authorizing the execution of an amended and restated funding loan agreement providing the terms and conditions of the permanent loan from the permanent funding lender to the City and for the execution and delivery of the permanent note; approving the form of and authorizing the execution of an amended and restated borrower loan agreement providing the terms and conditions of the permanent loan from the City to the borrower; approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants; authorizing the execution of an assignment of deed of trust and related documents; authorizing the collection of certain fees; approving, for purposes of the Internal Revenue Code of 1986, as amended, the execution and delivery of federally tax-exempt residential mortgage revenue notes by the City in an aggregate principal amount not to exceed $48,900,000; approving modifications, changes and additions to the documents; ratifying and approving any action heretofore taken in connection with the back-to-back loans, the notes and the project; granting general authority to City officials to take actions necessary to implement this Resolution, as defined herein; and related matters, as defined herein.
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