Title:
Title
(City Council / Housing Authority) Capitol Park Hotel - Approval of Loan Funds and Final Loan Documents [Published for 10-Day Review 11/05/2020]
End
FileID
File ID: 2020-01242
Location
Location: 1117, 1121, 1125, 1127, 1129 and 1131 9th Street; District 4
End
Recommendation:
Recommendation
Adopt: 1) a City Council Resolution authorizing the Sacramento Housing and Redevelopment Agency (SHRA) to a) enter into and execute a $10,100,000 Acquisition, Construction and Permanent Loan Agreement comprised of $3,200,000 in HOME Investment Partnerships Program (HOME) funds, $1,700,000 in Community Development Block Grant (CDBG) funds, $1,100,000 in Housing Opportunities for Persons with AIDS (HOPWA) funds, $1,800,000 in Housing Trust Funds (HTF), and $2,300,000 in Mixed Income Housing Funds (MIHF) with Mercy Housing California, or related entity (Developer) for the Capitol Park Hotel affordable, permanent supportive and workforce housing development (Project); b) execute all necessary documents associated with this action; c) amend the SHRA budget; and d) make related findings; and 2) a Housing Authority Resolution authorizing the Executive Director, or designee, to a) enter into and execute a $3,200,000 Acquisition, Construction and Permanent Loan Agreement comprised of Housing Authority Successor Agency (HASA) funds with the Developer for the Project; b) execute all necessary documents associated with this action; c) release a deed of trust and regulatory agreement related to an existing Housing Authority loan; d) amend the Housing Authority budget; and e) make related findings.
FileName
Contact: Christine Weichert, Assistant Director, (916) 440-1353; Tyrone Roderick Williams, Director of Development, (916) 440-1316, Sacramento Housing and Redevelopment Agency
Body
Presenter: Anne Nicholls, Management Analyst, (916) 440-1353, Sacramento Housing and Redevelopment Agency
Attachments:
01-Description/Analysis
02-Vicinity Map
03-Picture ...
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