File #: 220094    Version: Name: Loan Agreement - CCDC Throughline, L.L.C. - 777 Broadway Street, 1525 Grant Avenue, and 1207 Mason Street - Not to Exceed $26,286,000
Type: Resolution Status: Passed
Introduced: 1/25/2022 In control: Clerk of the Board
On agenda: Final action: 3/28/2022
Enactment date: 3/28/2022 Enactment #: 097-22
Title: Resolution approving and authorizing the execution of a Loan Agreement with CCDC Throughline L.L.C., a California limited liability corporation, in an aggregate total amount not to exceed $26,286,000 for a minimum term of 55 years for a portion of the loan amount and maximum terms of 40 years for other portions of the loan amount based on the requirements of the funding sources, to finance the acquisition and rehabilitation of three existing 100% affordable multifamily rental housing projects for low income households, known as “Throughline Apartments,” consisting of 88 rental units and four commercial spaces in three buildings located at 777 Broadway, 1525 Grant Avenue, and 1207 Mason Street; and adopting findings that the Loan Agreement is consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1.
Sponsors: Mayor, Gordon Mar, Hillary Ronen
Attachments: 1. Leg Ver1, 2. DRAFT Loan Agmt, 3. DRAFT Dev Fee Agmt, 4. DRAFT Secured Promissory Note, 5. DRAFT Deed of Trust, 6. DRAFT Decl of Restrictions, 7. DRAFT Secured Prommisory Note - BMR, 8. DRAFT Secured Prommisory Note - Deferred Loan, 9. DRAFT Secured Prommisory Note - Market Rate Loan, 10. Loan Committee - Gap, PASS, Loan Eval, 11. MOHCD Proforma, 12. Form 126, 13. BLA Rpt 020922, 14. Cmte Pkt 020922, 15. General Plan Referral 021022, 16. BLA Rpt 031622, 17. Cmte Pkt 031622, 18. Leg Ver2, 19. Board Pkt 032222, 20. Form 126 Final, 21. Leg Final
Legislation Details
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