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Title:
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Resolution authorizing the Treasure Island Development Authority (the “Authority”) to execute the Standard Agreements with the California Department of Housing and Community Development (“HCD”) under the Affordable Housing and Sustainable Communities Program for a total award of $45,109,140 including $30,000,000 disbursed by HCD as a loan to IC4.3 Family Housing, LP for a 100% affordable housing project at Treasure Island Parcel IC4.3, and $15,109,140 to be disbursed as a grant to the Authority for public transportation improvements on Treasure Island; approving the Standard Agreements for the period starting on the execution date through March 30, 2046; acknowledging the expenditure deadlines are set forth in the Standard Agreements; and authorizing the Authority to accept and expend the grant of $15,109,140 for transportation, streetscape and pedestrian improvements and other transit-oriented programming and improvements as approved by HCD.
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