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File #: 231198    Version: Name: Loan Agreement - 1234 Great Highway LLC - 1234 Great Highway - 100% Affordable Housing - Not to Exceed $24,000,000
Type: Resolution Status: Passed
Introduced: 11/14/2023 In control: Clerk of the Board
On agenda: Final action: 12/11/2023
Enactment date: 12/11/2023 Enactment #: 551-23
Title: Resolution approving and authorizing the Mayor and the Director of the Mayor’s Office of Housing and Community Development to execute loan documents relating to a loan to provide financing for the acquisition of real property located at 1234, 1270, and 1280 Great Highway (the “Property”), and predevelopment activities for a 100% affordable multifamily rental building for seniors, in an aggregate amount not to exceed $24,000,000; approving the form of the loan agreement and ancillary documents; ratifying and approving any action heretofore taken in connection with the property; granting general authority to City officials to take actions necessary to implement this Resolution; as defined herein; and finding that the loan is consistent with the General Plan, and the priority policies of Planning Code, Section 101.1.
Sponsors: Mayor, Joel Engardio
Attachments: 1. Leg Ver1, 2. DRAFT Loan Agreement, 3. DRAFT Declaration of Restrictions, 4. DRAFT Promissory Note - Acquisition, 5. DRAFT Promissory Note - Predevelopment, 6. DRAFT Deed of Trust - Assignment of Rents, 7. NOFA 012723, 8. PLN GPR 110723, 9. Form 126, 10. MOHCD Presentation 112923, 11. BLA Rpt 112923, 12. Cmte Pkt 112923, 13. Pub Correspondence, 14. Leg Ver2, 15. Board Pkt 120523, 16. Leg Final, 17. Form 126 Final
Legislation Details
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