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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 to execute loan documents relating to a loan to provide financing for the acquisition of real property located at 650 Divisadero Street (the “Property”), and predevelopment activities for a 100% affordable multifamily rental building, in an aggregate amount not to exceed $15,000,000; approving the form of the loan agreement and ancillary documents; ratifying and approving any action heretofore taken in connection with the property, as defined herein; granting general authority to City officials to take actions necessary to implement this Resolution, as defined herein; and finding that the loan is consistent the General Plan, and the priority policies of Planning Code, Section 101.1.
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