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Title:
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Resolution authorizing the Mayor’s Office of Housing and Community Development (“MOHCD”) to execute the Standard Agreements with the California Department of Housing and Community Development (“HCD” or “Department”) under the Affordable Housing and Sustainable Communities Program for a total award of $21,205,299 including $10,850,000 disbursed by HCD as a loan to the Sunnydale Block 3A Housing Partners, L.P. (“Developer”) for a 100% affordable housing project at 1545 Sunnydale Avenue and $10,355,299 to be disbursed as a grant to the City for public transportation improvements near 1545 Sunnydale Avenue, for the period starting on the execution date of the Standard Agreements to November 30, 2042; and authorizing MOHCD to accept and expend the grant of up to $10,355,299 for transportation, streetscape and pedestrian improvements and other transit oriented programming and improvement as approved by HCD.
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