Title:
Title
(Housing Authority) Approval of Option Agreement and Loan Commitment for Rental Assistance Demonstration (RAD) Phase 1 Project [Published for 10-Day Review 07/11/2019]
End
FileID
File ID: 2019-00934
Location
Location: Citywide
Recommendation:
Recommendation
Adopt a Housing Authority Resolution: 1) approving an amendment to the Sacramento Housing and Redevelopment Agency (Agency) budget, 2) authorizing execution of an Option Agreement for the Ground Lease and the Purchase and Sale of Improvements (Option Agreement) for RAD Phase 1, 3) authorizing execution of a Loan Commitment which includes a $860,000 Seller Carryback Loan and $1,641,219 Capital Fund loan for the acquisition and rehabilitation of RAD Phase 1 properties in the Oak Park Asset Management Property (AMP) (4921 Folsom Blvd.) and the Meadow Commons AMP (1043 43rd Avenue) under the RAD Phase 1 Project (Loan Commitment), 4) authorizing for the Executive Director, or designee, to execute the Option Agreement, Loan Commitment and related documents, 5) authorizing for the Executive Director, or designee, to perform other actions related to the Project; and 6) approving environmental and other findings.
Contact: Christine Weichert, Assistant Director, (916) 440-1353, Tyrone Roderick Williams, Director of Development, (916) 440-1316, Sacramento Housing and Redevelopment Agency
Body
Presenter: Christine Weichert, Assistant Director, (916) 440-1353, Sacramento Housing and Redevelopment Agency
Attachments:
01-Description/Analysis and Background
02-Vicinity Map of Oak Park (4921 Folsom Boulevard)
03-Vicinity Map of Meadow Commons (1043 43rd Avenue)
04-Vicinity Map of RAD Phase 1 (all six sites)
05-Pictures of RAD Phase 1
06-Project Summary of RAD Phase 1
07-Cash Flow Proforma of RAD Phase 1
08-Maximum Income and Rent Limits of RAD Phase 1
09-Housing Authority Resolution - Option Agreement and Loan Commitment
10-Housing Authority Resolution - Exhibit A - Option Agreement for ...
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