...Title
Actions Related to the Fairways at San Antonio Located at 305 San Antonio Court.
...Recommendations
(a) Adopt a resolution:
(1) Consenting to the transfer of ownership, resyndication, and rehabilitation of Fairways at San Antonio from San José Family Housing Partners, L.P. to Fairways Apartments, L.P., both affiliates of Affirmed Housing Group, Inc.;
(2) Accepting full repayment of a City of San José loan from Family Housing Partners, L.P.;
(3) Authorizing repayment proceeds of $14,290,497 to be issued as a new loan to Fairways Apartments, L.P.; and
(4) Authorizing the Housing Director, or his designee, to negotiate and execute loan documents, any amendments thereto, and all other documents related to the transfer of ownership, resyndication, and rehabilitation of Fairways at San Antonio.
(b) Adopt the following Appropriation Ordinance and Funding Source Resolution amendments in the Low and Moderate Income Housing Asset Fund:
(1) Increase the estimate for Revenue from the Use of Money/Property by $14,290,497; and
(2) Increase the Housing Loans and Grants appropriation to the Housing Department by $14,290,497.
CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no physical changes to the environment; and Categorically Exempt, File No. ER24-246 (Exemption for Housing Rehabilitation Projects), CEQA Guidelines Section 15301, Existing Facilities. Council District 5. (Housing/City Manager)