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File #: 200975    Version: 1 Name: Multifamily Housing Revenue Note - 681 Florida Street - Not to Exceed $50,000,000
Type: Resolution Status: Mayors Office
Introduced: 8/25/2020 In control: Budget and Finance Committee
On agenda: Final action: 9/22/2020
Enactment date: Enactment #:
Title: Resolution authorizing the execution and delivery of a multifamily housing revenue note in one or more series in an aggregate principal amount not to exceed $50,000,000 for the purpose of providing financing for the construction of a 130-unit multifamily rental housing project known as “681 Florida Street;” approving the form of and authorizing the execution of a funding loan agreement; providing the terms and conditions of the loan from the funding lender to the City, and the execution and delivery of the note; approving the form of and authorizing the execution of a project loan agreement providing the terms and conditions of the loan 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 note and the project; 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
Attachments: 1. Leg Ver1, 2. DRAFT Regulatory Agrmt, 3. DRAFT Funding Loan Agrmt, 4. DRAFT Project Agrmt, 5. DRAFT Multifamily Housing Revenue Note, 6. Public Disclosures 082120, 7. TEFRA Public Hearing Notice, 8. CDLAC Reso. No. 20-098, 9. Form 126, 10. Comm Pkt 091620, 11. Board Pkt 092220
Legislation Details
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