|
Title:
|
Resolution approving and authorizing the Director of the Mayor’s Office of Housing and Community Development (MOHCD) to execute an Amended and Restated Loan Agreement with Sunnydale Block 3B Housing Partners, L.P., a California limited partnership, for a total loan amount not to exceed $31,506,016 to finance the construction of a 90-unit multifamily rental housing development for low-income households, which will be known as Sunnydale HOPE SF Block 3B (the "Project"); adopting findings that the loan agreement is consistent with the adopted Mitigation Monitoring and Reporting Program under the California Environmental Quality Act, the General Plan, and the eight priority policies of Planning Code, Section 101.1; and authorizing the Director of MOHCD or his or her designee to enter into any amendments or modifications to the Agreement and any other documents or instruments necessary in connection therewith that the Director determines are in the best interest of the City, do not materially increase the obligations or liabilities for the City or materially diminish the benefits of the City, and are necessary or advisable to effectuate the purposes and intent of this Resolution.
|