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File #: 200219    Version: Name: Loan Agreement - 22, 102, and 104-106 South Park Street - Not to Exceed $28,312,966
Type: Resolution Status: Passed
Introduced: 2/25/2020 In control: Clerk of the Board
On agenda: Final action: 3/27/2020
Enactment date: 3/27/2020 Enactment #: 115-20
Title: Resolution approving and authorizing the execution of a Loan Agreement with MHDC South Park Properties, L.P., a California limited partnership, in an amount not to exceed $28,312,966 for a minimum term of 55 years for a portion of the loan amount and a minimum term of 40 years for another portion of the loan amount based on the requirements of the funding sources, to finance the acquisition and rehabilitation of a 108-unit affordable multifamily rental housing project for low income households, consisting of three structures located at 22, 102, and 104-106 South Park Street; 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
Attachments: 1. Leg Ver1, 2. DRAFT Amended and Restated Loan Agrmt, 3. DRAFT Dec of Restrictions, 4. DRAFT Deed of Trust, Rents, Security Agrmt, and Fixture Filing, 5. DRAFT Amended and Restated Promissory Note, 6. DRAFT Secured Promissory Note, 7. PLN GPR 020520, 8. BLA Report 031120, 9. Comm Pkt 031120, 10. Form 126, 11. Leg Ver2, 12. Board Pkt 031720, 13. Form 126 Final, 14. Leg Final
Legislation Details
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