Title:
Title
(Housing Authority) Approval of Final Rental Assistance Demonstration (RAD) and Loan Documents, and Ground Lease for the RAD Phase 1 Project
End
FileID
File ID: 2019-01288
Location
Location: 4921 Folsom Boulevard and 1043 43rd Avenue, Districts 3 and 5
Recommendation:
Recommendation
Adopt a Housing Authority Resolution for the RAD Phase 1 Project authorizing the Executive Director, or designee, to a) enter into and execute all necessary documents, agreements and certificates, including, but not limited to the RAD Documents, Acquisition Documents, Seller Carryback Loan Documents, Construction-Permanent Loan Documents, Ground Lease Loan Documents, the Governmental Note, Pledge Obligations, Assignment/Subordination Documents, Administrative Services Agreement, Property Management Agreement, Assignment of Services Contracts, Option/ROFR Documents, and any and all other documents necessary for the Housing Authority of the City of Sacramento (Housing Authority) to convert the Project through the RAD Program, convey the leasehold interest in the Land and fee interest in the Improvements, consummate and subordinate the Seller Carryback Loan, the Construction-Permanent Loan, and the Ground Lease Loan, and otherwise reasonably assist the Partnership in securing the financing for the Project; b) perform actions necessary to convert the Project through the RAD Program, including, but not limited to amending the Housing Authority budget for financing the Project; and c) approving environmental and related findings.
Contact: Christine Weichert, Assistant Director, (916) 440-1353, Tyrone Roderick Williams, Director of Development, (916) 440-1316, LaTanna Jones, Assistant Director, (916) 440-1334, Sacramento Housing and Redevelopment Agency
Body
Presenter: None
Attachments:
01-Description/Analysis
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...
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