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File #: 210763    Version: Name: Loan Agreement - 2550 Irving Associates, L.P. - 100% Affordable Housing at 2550 Irving Street - Not to Exceed $14,277,516
Type: Resolution Status: Passed
Introduced: 6/29/2021 In control: Clerk of the Board
On agenda: Final action: 7/30/2021
Enactment date: 7/30/2021 Enactment #: 363-21
Title: Resolution approving and authorizing the Director of the Mayor’s Office of Housing and Community Development with 2550 Irving Associates, L.P. to execute loan documents relating to a loan to provide financing for the acquisition of real property located at 2550 Irving Street, and predevelopment activities for a 100% affordable multifamily rental building, in an aggregate amount not to exceed $14,277,516; approving the form of the loan agreement and ancillary documents; ratifying and approving any action heretofore taken in connection with the property; granting general authority to City officials to take actions necessary to implement this Resolution, as defined herein; and finding that the loan is consistent the General Plan, and the priority policies of Planning Code, Section 101.1.
Sponsors: Mayor, Gordon Mar
Attachments: 1. Leg Ver1, 2. Leg Ver2, 3. DRAFT Loan Agrmt, 4. DRAFT Secured Acq Promissory Note, 5. DRAFT Secured Predevelop Promissory Note, 6. DRAFT Dec of Restrictions & Affordable Housing Covenants, 7. DRAFT Deed of Trust, 8. NOFA 122719, 9. PLN Gen Plan Ref 062121, 10. Form 126, 11. Pres Action Memo 070721, 12. BLA Report 071421, 13. Comm Pkt 071421, 14. Public Correspondence 071621, 15. Board Pkt 072021, 16. Post Pkt Correspondence 072021, 17. Post Pkt Correspondence 072621, 18. Form 126 Final, 19. Leg Final
Legislation Details
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