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File #: 190979    Version: 1 Name: Multifamily Housing Revenue Notes - 242 Hahn Street (Sunnydale Block 6) - Not to Exceed $106,680,000
Type: Resolution Status: New Business
Introduced: 9/24/2019 In control: Budget and Finance Committee
On agenda: Final action:
Enactment date: Enactment #:
Title: Resolution authorizing the execution and delivery of a multifamily housing revenue note (tax-exempt) in an aggregate principal amount not to exceed $76,680,000 and of a multifamily housing revenue note (taxable) in an aggregate principal amount not to exceed $30,000,000 for the purpose of providing financing for the construction of a 167-unit multifamily rental housing project located at 242 Hahn Street (Sunnydale Block 6); approving the form of and authorizing the execution of funding loan agreement providing the terms and conditions of the loans from the funding lender to the City and the execution and delivery of the notes; approving the form of and authorizing the execution of a project loan agreement providing the terms and conditions of the loans 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 notes and the project, as defined herein; granting general authority to City officials to take actions necessary to implement this Resolution as defined herein; and related matters, as defined herein.
Sponsors: Mayor, Shamann Walton
Attachments: 1. Leg Ver1, 2. DRAFT Funding Loan Agmt, 3. DRAFT Project Loan Agmt, 4. DRAFT Regulatory Agmt and Decl of Restrictive Covenants, 5. DRAFT Promissary Note, 6. CDLAC Reso No. 19-106 071919, 7. Form 126, 8. Comm Pkt 100919
Legislation Details
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