File #:
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18-1752
Version:
1
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Name:
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Type:
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City Resolution
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Status:
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Passed
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On agenda:
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5/21/2019
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Final action:
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5/21/2019
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Title:
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2) A Resolution (1) Authorizing An Additional Unsecured Predevelopment Loan In The Amount Of $3,532,000 To Midpen Housing Corporation, Or Affiliated Entities, To Support The Development Of Affordable Housing On Parcel A At Brooklyn Basin, And Amend Existing Predevelopment Loans To 0% Interest, (2) Authorizing A Secured Affordable Housing Development Loan In An Amount Not To Exceed $29,775,000, To Midpen Housing Corporation, Or Affiliated Entities, To Support The Development Of 254 Units Of Affordable Housing On Parcel A At Brooklyn Basin, (3) Appropriate $2,003,436.22 In Master Developer Fee Contributions And Interest Earnings And $9,984,957.25 In Net Sales Proceeds From The OHA Purchase Of An Ownership Interest In The Affordable Housing Parcels Into Development Financing Of The Affordable Housing Units For Development Of Both Parcel A And Parcel F, And (4) Making CEQA Findings For This Action
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Attachments:
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1. View Report, 2. 87708 CMS
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Title
2) A Resolution (1) Authorizing An Additional Unsecured Predevelopment Loan In The Amount Of $3,532,000 To Midpen Housing Corporation, Or Affiliated Entities, To Support The Development Of Affordable Housing On Parcel A At Brooklyn Basin, And Amend Existing Predevelopment Loans To 0% Interest, (2) Authorizing A Secured Affordable Housing Development Loan In An Amount Not To Exceed $29,775,000, To Midpen Housing Corporation, Or Affiliated Entities, To Support The Development Of 254 Units Of Affordable Housing On Parcel A At Brooklyn Basin, (3) Appropriate $2,003,436.22 In Master Developer Fee Contributions And Interest Earnings And $9,984,957.25 In Net Sales Proceeds From The OHA Purchase Of An Ownership Interest In The Affordable Housing Parcels Into Development Financing Of The Affordable Housing Units For Development Of Both Parcel A And Parcel F, And (4) Making CEQA Findings For This Action
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