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File #: 19-821HA    Version: 1 Name: BHDC Extension of Loan Terms
Type: HA- Report Status: Agenda Ready
File created: 11/25/2019 In control: Housing Authority
On agenda: 12/16/2019 Final action: 12/16/2019
Title: REPORT - BURBANK HOUSING DEVELOPMENT CORPORATION REQUEST FOR EXTENSION OF HOUSING AUTHORITY LOAN TERMS AND APPLICABLE REGULATORY AGREEMENTS FOR CYPRESS RIDGE, GROSMAN APARTMENTS, JAY’S PLACE, PANAS PLACE, AND WEST OAKS AND SUBORDINATION OF THE HOUSING AUTHORITY’S LOANS TO REFINANCED SENIOR MORTGAGES BACKGROUND: The Housing Authority has provided loans to Burbank Housing Development Corporation (BHDC) for five affordable housing properties in the total principal amount of $6,330,966 representing a total of 295 units affordable to extremely low-, very low- and low-income households. Cypress Ridge, Grosman Apartments, and Jay’s Place are being refinanced through Berkadia Group; Panas Place and West Oaks are being refinanced through California Housing Finance Agency (CalHFA). The first mortgages for all five properties are being refinanced to (1) make repairs to each property; (2) repay a portion of the unsecured loan approved by the Housing Authority via Resolution No. 1669 on Novembe...
Sponsors: Housing Authority
Indexes: Not a Project
Code sections: 15378 - Not a Project
Attachments: 1. Staff Report, 2. Staff Report Revised - Uploaded 12-12-19, 3. Attachment 1 - Cypress Ridge Exec Summary, 4. Attachment 2 - Grosman Exec Summary, 5. Attachment 3 - Jays Place Exec Summary, 6. Attachment 4 - Panas Place Exec Summary, 7. Attachment 5 - West Oaks Exec Summary, 8. Attachment 6 - Gouin SR Letter, 9. Attachment 7 - Amorosa Exec Summary- Uploaded 12-12-19, 10. Resolution - Cypress Ridge, 11. Resolution - Grosman Apts, 12. Resolution - Jay's Place, 13. Resolution - Panas Place, 14. Resolution - West Oaks, 15. Presentation
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
12/16/20191 Housing Authority to waive reading of the text and adoptPass Action details Meeting details Video Video
12/16/20191 Housing Authority to waive reading of the text and adoptPass Action details Meeting details Video Video
12/16/20191 Housing Authority to waive reading of the text and adoptPass Action details Meeting details Video Video
12/16/20191 Housing Authority to waive reading of the text and adoptPass Action details Meeting details Video Video
12/16/20191 Housing Authority to waive reading of the text and adoptPass Action details Meeting details Video Video