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Title:
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Hearing to consider the proposal of the Mayor's Office of Housing and Community Development (acting on behalf of the Office of Community Investment and Infrastructure) to enter into an Air Rights Lease, for a term of 75 years commencing upon Board approval, for the purpose of developing housing for very low-income families, located at 280 Beale Street, with Mercy Housing California 62, LP, a California limited partnership, pursuant to the provisions of California Health and Safety Code, Section 33433, Community Redevelopment Law and a Resolution authorizing the issuance and delivery of multifamily housing revenue bonds in an aggregate principal amount not to exceed $15,000,000 for the purpose of providing financing for the acquisition and construction of a 70-unit multifamily rental housing project known as Transbay/Block 6 Project; approving the form of and authorizing the execution of a trust indenture providing the terms and conditions of the bonds; approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants; approving the form of and authorizing the execution of a loan agreement; authorizing the collection of certain fees; ratifying and approving any action heretofore taken in connection with the bonds and the project; granting general authority to City officials to take actions necessary to implement this Resolution; and related matters.
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