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File #: 191300    Version: 1 Name: Loan Agreement - Maceo May Apts, L.P. - 100% Affordable Housing at 401 Avenue of the Palms - Not to Exceed $24,255,000
Type: Resolution Status: Passed
Introduced: 12/17/2019 In control: Clerk of the Board
On agenda: Final action: 1/24/2020
Enactment date: 1/24/2020 Enactment #: 029-20
Title: Resolution approving and authorizing the execution of a Loan Agreement with Maceo May Apts, L.P., a California limited partnership, in an amount not to exceed $24,255,000 for a minimum term of 57 years, to finance the construction of a 100% affordable, 105-unit multifamily rental housing development (plus one staff unit) for low and moderate income veteran households (“Maceo Project”) at 401 Avenue of the Palms; and adopting findings that the Loan Agreement is consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1.
Sponsors: Mayor, Matt Haney
Attachments: 1. Leg Ver1, 2. DRAFT Loan Agmt, 3. DRAFT Declaration of Restrictions, 4. DRAFT Deed of Trust, Assnmt of Rents, 5. DRAFT Option to Lease, 6. DRAFT Secured Promissory Note, 7. Housing Plan - Exhibit E, 8. Form 126, 9. BLA Report 010820, 10. Comm Pkt 010820, 11. Board Pkt 011420, 12. Leg Final, 13. Form 126 Final
Legislation Details
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