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File #: 200317    Version: Name: Limited Payment Guaranty - Maceo May Apts, L.P. - 100% Affordable Housing at 401 Avenue of the Palms - Silicon Valley Bank - Not to Exceed $44,615,000 - Raymond James Tax Credit Investment, Inc. - Not to Exceed $2,600,000
Type: Resolution Status: Passed
Introduced: 3/24/2020 In control: Clerk of the Board
On agenda: Final action: 4/24/2020
Enactment date: 4/24/2020 Enactment #: 168-20
Title: 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.
Sponsors: Mayor
Attachments: 1. Leg Ver1, 2. DRAFT Limited Payment Guaranty - Silicon Valley Bank, 3. DRAFT Limited Payment Guaranty - Raymond James Tax Credit Investment, Inc, 4. DRAFT MOHCD TIDA Letter Agreement, 5. MYR Memo 032420, 6. BLA Report 041520, 7. Comm Pkt 041520, 8. Leg Ver2, 9. Form 126 - Silicon Valley Bank, 10. Form 126 - Raymond James Tax Credit Funds, 11. Board Pkt 042120, 12. Leg Final, 13. Form 126 Final Silicon Valley Bank, 14. Form 126 Final Raymond James Tax Credit Funds
Legislation Details
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