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File #: 210765    Version: 1 Name: Multifamily Housing Revenue Note - Ambassador Ritz Four Percent L.P. - 55 Mason Street and 216 Eddy Street - Not to Exceed $56,039,857
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 #: 365-21
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 $56,039,857 for the purpose of providing financing for the acquisition and rehabilitation of a 187-unit multifamily rental housing project located at 55 Mason Street and 216 Eddy Street, known as “Ambassador Ritz 4%;” approving the form of and authorizing the execution of a funding loan agreement, providing the terms and conditions of the loan from the funding lenders to the City, and the execution and delivery of the note; approving the form of and authorizing the execution of a borrower 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, as defined herein; ratifying and approving any action heretofore taken in connection with the back-to-back loan, 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 Funding Loan Agrmt, 3. DRAFT Borrower Loan Agrmt, 4. DRAFT Regulartory Agrmt & Dec of Restrict Covenants, 5. DRAFT Assignment of Deed of Trust, 6. Public Disclosures 062421, 7. CDLAC Award Ltr 120920, 8. TEFRA Proof of Publication, 9. Ntc of Public Hearing 112420, 10. TEFRA Hearing Minutes 120720, 11. TEFRA Cert of Publication 120720, 12. Form 126, 13. Pres Action Memo 070721, 14. Comm Pkt 071421, 15. Board Pkt 072021, 16. Form 126 Final, 17. Leg Final
Legislation Details
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