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Title:
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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.
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