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Title:
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Resolution approving and authorizing the execution of a Limited Payment Guaranty for the benefit of Silicon Valley Bank in an amount not to exceed $44,615,000 plus accrued interest and any other costs, and a Limited Payment Guaranty for the benefit of Raymond James Tax Credit Investment, Inc., in an amount not to exceed $2,600,000 if the construction of the 100% affordable, 105-unit multifamily rental housing development (plus one staff unit) for low and moderate income veteran households on Treasure Island (“Maceo May Project”) cannot be completed as a result of injunctive relief to the stop work or other similar notice issued by a court as a result of a current lawsuit.
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