City Council

Item No. 19. 2024-0074 CONSIDER RATIFICATION OF CLOSING\nDOCUMENTS RELATED TO AFFORDABLE HOUSING\nPROJECTS OWNED AND OPERATED BY ENTITIES\nCONTROLLED BY THOMAS SAFRAN AND\nASSOCIATES, REFINANCING AND REHABILITATING\nVILLAGGIO I AND II AND EXTENDING THE\nMATURITY DATES OF THE LOANS, AND THE SIXTH\nAMENDMENT TO THE DISPOSTION AND\nDEVELOPMENT AGREEMENT FOR AVALON\nCOURTYARD, ALL AUTHORIZED PURSUANT TO\nRESOLUTION NO. 22-08-CHA APPROVED BY THE\nHOUSING AUTHORITY BOARD ON JUNE 21, 2022\n(HOUSING AUTHORITY)\nRecommendation: TAKE the following actions:\nRATIFY THE APPROVAL AND EXECUTION OF the following\nagreements entered into by the Housing Authority pursuant to\nResolution No. 22-08-CHA on June 21, 2022:\n1. Villaggio I (owner is Grace Housing Limited Partnership):\na. Third Amendment to Redevelopment Agreement\nb. First Amendment to Regulatory Agreement\nc. HUD Subordination Agreement\nd. Substitution of Trustee and Reconveyance\ne. First Amendment to Regulatory Agreement (CHFA\nDevelopment No. 97-004-S)\n2. Villaggio II (owner is Carson Housing Limited Partnership):\na. Third Amendment to Redevelopment Agreement\nb. First Amendment to Regulatory Agreement\nc. HUD Subordination Agreement\nd. First Amendment to Regulatory Agreement (CHFA\nDevelopment No. 97-015-S)\ne. Substitution of Trustee and Reconveyance\n3. Avalon Courtyard:\na. Sixth Amendment to Disposition and Development Agreement\nAttachments: 1.Resolution No. 22-08-CHA\n2.Villaggio I 3rd Amend. to Redev. Agmt.pdf\n3.Villaggio I_1st Amendment to Regulatory Agreement (with HUD Rider)\n4.Villaggio I_Subordination Agreement.pdf\n5.Villaggio I_Substitution of Trustee and Reconveyance\n6.Villaggio I 1st Amendment to Regulatory Agmnt (No. 97-004-S)\n7.Villaggio II_3rd Amendment to Redevelopment Agreement\n8.Villaggio II_First Amendment to Regulatory Agreement (HUD Rider)\n9. Villaggio II_ HUD Subordination Agreement (HUD-92420M)\n10.Villaggio II_1st Amendment to Regulatory Agreement\n11.Villaggio II_Substitution of Trustee & Reconveyance\n12.Avalon Courtyard 6th Amendment to DDA