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<br />" <br /> <br /> <br />6C <br /> <br />'- <br /> <br />- .. <br /> <br />pLEASANTONo <br /> <br />City Council <br />Staff Report <br /> <br />August 16,2005 <br />Assistant City Manager <br /> <br />SUBJECT <br /> <br />APPROVAL OF DOCUMENTS RELATED TO THE OPERATIONS <br />AND FINANCING OF THE ASSISTED LIVING FACILITY BEING <br />DEVELOPED BY BRIDGE HOUSING CORPORATION <br /> <br />STAFF RECOMMENDATION: <br /> <br />Staff recommends the City Council take the following action: <br /> <br />1. Approve the Ground Lease. <br />2. Approve the Loan Agreement, Promissory Note and the Deed of <br />Trust and Assignments of Rents for the City Loan in the amount of <br />$2,490,000. <br />3. Approve the Regulatory Agreement and Declaration of Restrictive <br />Covenants. <br />4. Approve the California Housing Finance Agency (CaIHF A) Housing <br />Enable by Local Government (HELP) Loan Agreement in the amount <br />of $1 ,500,000 and related documents including the HELP: <br />. Regulatory Agreement and Declaration of Restrictive Covenants <br />. Promissory Note <br />. Loan Agreement <br />. Deed of Trust and Assignment of Rents <br />. Resolution approving the HELP Loan Agreement with CalHF A <br />5. Approve the resolution authorizing the approval of project financing <br />in an amount estimated at $19, 725, 334 and City documents. <br />6. Authorize the City Manager to approve amendments to the <br />agreements consistent with recommendation of the City Attorney. <br /> <br />HOUSING COMMISSION ACTION: <br />Approve staff recommendation. <br /> <br />SR:05:219 <br />Page 1 <br />