Resolution authorizing the execution and delivery of a multifamily housing revenue note in one or more series in an aggregate principal amount not to exceed $49,454,000 for the purpose of providing financing for the construction of a 72-unit multifamily rental housing project known as “Potrero Block X,” located in the City at 1101 Connecticut Street; approving the form of and authorizing the execution of a funding loan agreement providing the terms and conditions of the loan from the funding lender to the City and the execution and delivery of the note; approving the form of and authorizing the execution of a borrower loan agreement providing the terms and conditions of the loan from the City to the borrower; approving the form of and authorizing the execution of a regulatory agreement and declaration of restrictive covenants; authorizing the collection of certain fees; approving modifications, changes and additions to the documents; ratifying and approving any action heretofore taken in connection with the back-to-back loans, the note and the project; granting general authority to City officials to take actions necessary to implement this Resolution; and related matters, as defined herein.

Committee

Clerk of the Board

Introduced

November 1, 2016

Passed

December 9, 2016

Enacted

December 9, 2016

Enactment no.

499-16