Title:
Title
(Housing Authority / City Council) Lavender Courtyard by Mutual Housing: Approval of Final Tax Exempt Bonds and Loan Documents
End
FileID
File ID: 2020-00902
Location
Location: 1616 F Street, District 4
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Recommendation:
Recommendation
Adopt: 1) a Housing Authority Resolution authorizing the Executive Director or designee to: a) issue, execute, and deliver mortgage revenue bonds of up to $25,000,000 for the financing of the Lavender Courtyard by Mutual Housing (Project); b) execute and deliver necessary documents relating thereto, and c) approve all actions taken by officers and agents of the Housing Authority deemed necessary or advisable to issue and deliver the bonds and 2) a City Council Resolution authorizing Sacramento Housing and Redevelopment Agency (SHRA) to enter into and execute a Loan Agreement comprised of $1,905,525 in HOME Investment Partnerships Program (HOME) funds, and all necessary agreements to finance the Project.
FileName
Contact: Christine Weichert, Assistant Director, (916) 440-1353; Tyrone Roderick Williams, Deputy Executive Director, (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
02-Vicinity Map
03-Project Rendering
04-Residential Project Summary
05-Cash Flow Proforma
06-Maximum Income and Rent Levels
07-Housing Authority Resolution - Final Bond Documents
08-Exhibit A: Public Disclosures Relating to Conduit Revenue Obligations
09-City Council Resolution - HOME Loan Documents
10-Exhibit A: HOME Loan Documents
Description/Analysis
Issue Detail: Lavender Associates, L.P. acquired property at the southeast corner of 16th and F Streets in the historic Mansion Flats neighborhood of downtown Sacramento in July 2015. On March 8, 2016, the City Council authorized SHRA to execute a Loan Commitment for $1,905,525 in Home Investme...
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