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18-024CI
| 1 | 1. | Gallery 421 | CI-Agenda Item | Recommendation to
1. Approve a loan prepayment from Lyon West Gateway, LLC in the amount of $850,000 as part of the sale of Gallery 421 Apartments;
2. Approve a Termination of the Affordable Housing Loan Agreement;
3. Authorize the President to negotiate a Modification to the Deed of Trust, Fixture Filing, Assignment of Rents and Security Agreement;
4. Authorize the President to negotiate a First Amendment to the Affordable Housing Regulatory Agreement;
5. Authorize the President to negotiate an Assignment, Assumption, Consent and Release Agreement including an assignment of all loan documents remaining in effect after conveyance of the property; and
6. Authorize the President to execute any and all documents necessary to receive the prepayment and complete the sale and transfer of the Property. | approve recommendation | Pass |
Action details
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Not available
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