City Council

16. TMP-1944 RESOLUTION NO. SHA 2023-047 - AUTHORIZING MODIFIED\nPROJECT GAP LOAN FINANCING WITH NATIONAL CORE AND THE\nPREPARATION OF AN UPDATED LOAN AGREEMENT FOR THE\nVILLA SERENA II PHASE 2 AFFORDABLE HOUSING COMMUNITY\nRecommendation: ADOPT resolution approving modified project gap loan financing with National CORE\nand the preparation of a draft updated loan agreement for the Villa Serena II Phase 2\naffordable housing development to document the same, which updated agreement would\nbe brought back to the City Council in its capacity as the Successor Housing Agency\nfor its consideration and action at a future date.\nAttachments: Villa Serena II Phase 2 Request for Additional Funding\nVilla Serena II Phase 2 Project Proforma\nTMP-1944 - Affordable Housing - Villa Serena II - Resolution - 25 July 2023