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Title:
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Resolution approving the execution of a First Amendment to the Senior Operating Subsidy Grant Agreement (“Grant Agreement”) with Chinatown SROs L.L.C., a California limited liability company, to increase the grant amount by $572,765 for a new total grant amount not to exceed $6,781,969 to fully fund the 15 year and six months term of July 1, 2024, through June 30, 2039, with rent subsidy for 35 extremely low income seniors at 1005 Powell Street, a 64-unit 100% affordable multifamily rental housing development (“Project”); and authorizing the Mayor and the Director of Mayor’s Office of Housing and Community Development to execute the Grant Agreement, make certain modifications, and take certain actions in furtherance of this Resolution, as defined herein.
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