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File #: 190795    Version: 1 Name: Multifamily Housing Revenue Note - Bernal Gateway 2 LP - Not to Exceed $23,500,000
Type: Resolution Status: Mayors Office
Introduced: 7/16/2019 In control: Board of Supervisors
On agenda: Final action: 9/10/2019
Enactment date: Enactment #:
Title: Resolution authorizing the execution and delivery of a multifamily housing revenue note in one or more series in an aggregate principal amount not to exceed $23,500,000 for the purpose of providing financing for the construction of a 55-unit multifamily rental housing project known as “Bernal Gateway Apartments;” approving the form of and authorizing the execution of a funding loan agreement, providing the terms and conditions of the loan from the funding lender to the City, and the execution and delivery of the note; approving the form of and authorizing the execution of a project loan agreement providing the terms and conditions of the 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 collection of certain fees; approving modifications, changes, and additions to the documents; ratifying and approving any action heretofore taken in connection with the back-to-back loans, the note and the project, as defined herein; and granting general authority to City officials to take actions necessary to implement this Resolution; and related matters, as defined herein.
Sponsors: Mayor, Hillary Ronen
Attachments: 1. Leg Ver1, 2. CDLAC Reso No. 19-016 011619, 3. CDLAC Ltr 062019, 4. DRAFT Assign Deed of Trust and Loan Docs, 5. DRAFT Funding Loan Agrmt, 6. DRAFT Project Loan Agrmt, 7. DRAFT Regulatory Agrmt, 8. TEFRA Proof of Pub 062619, 9. Form 126, 10. Comm Pkt 090419, 11. Board Pkt 091019
Legislation Details
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