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File #: 231199    Version: Name: Loan Agreement - Grove Street Development, L.P. - 650 Divisadero Street - 100% Affordable Housing - Not to Exceed $15,000,000
Type: Resolution Status: Passed
Introduced: 11/14/2023 In control: Clerk of the Board
On agenda: Final action: 12/15/2023
Enactment date: 12/15/2023 Enactment #: 581-23
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 650 Divisadero Street (the “Property”), and predevelopment activities for a 100% affordable multifamily rental building, in an aggregate amount not to exceed $15,000,000; approving the form of the loan agreement and ancillary documents; ratifying and approving any action heretofore taken in connection with the property, as defined herein; granting general authority to City officials to take actions necessary to implement this Resolution, as defined herein; and finding that the loan is consistent the General Plan, and the priority policies of Planning Code, Section 101.1.
Sponsors: Mayor, Dean Preston
Attachments: 1. Leg Ver1, 2. DRAFT Loan Agmt, 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. Ntc of Amend to NOFA 053023, 9. PLN GPR 110623, 10. Form 126, 11. MOHCD Presentation 112923, 12. BLA Rpt 112923, 13. Cmte Pkt 112923, 14. Leg Ver2, 15. Board Pkt 120523, 16. Form 126 Final, 17. Leg Final
Legislation Details
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