File #: 230062    Version: 1 Name: Loan Agreement - Sunnydale Block 3B Housing Partners, L.P. - Sunnydale HOPE SF Block 3B - 100% Affordable Housing - Not To Exceed $31,506,016
Type: Resolution Status: Passed
Introduced: 1/24/2023 In control: Clerk of the Board
On agenda: Final action: 2/23/2023
Enactment date: 2/23/2023 Enactment #: 059-23
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.
Sponsors: Mayor, Shamann Walton, Ahsha Safai, Rafael Mandelman
Attachments: 1. Leg Ver1, 2. DRAFT Amended and Restated Loan Agmt, 3. HOPE SF RFQ 101607, 4. HOPE SF NOFA 040208, 5. BOS Ord No. 180-07 072407, 6. BOS Ord No. 18-17 013117, 7. BOS Ord No. 20-17 013107, 8. GPR HOPE SF - Sunnydale - General Plan Findings - Attachment A, 9. Form 126, 10. MOHCD Presentation 020823, 11. BLA Rpt 020823, 12. Cmte Pkt 020823, 13. Board Pkt 021423, 14. Form 126 Final, 15. Leg Final, 16. Executed Loan Agmt 022323
Related files: 070849, 071373, 161164, 161309
Legislation Details
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