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File #: 23-809HA    Version: 1 Name: CHANGE OF BORROWER LEGAL NAME FOR BURBANK AVENUE APARTMENTS LOAN AND PROJECT-BASED VOUCHER COMMITMENTS
Type: HA- Report Status: Agenda Ready
File created: 9/5/2023 In control: Housing Authority
On agenda: 9/25/2023 Final action:
Title: REPORT - MODIFICATION TO HOUSING AUTHORITY RESOLUTION NUMBERS 1694,1704,1707,1731,1743, FOR BURBANK AVENUE APARTMENTS TO CHANGE THE BORROWER ENTITY FROM WATERSTONE RESIDENTIAL, LLC AND WSA BURBANK HOUSING PARTNERS I, LP TO BHDC BURBANK AVE, LLC BY AND THROUGH BURBANK HOUSING DEVELOPMENT CORPORATION AND ALLOW PREDEVELOPMENT AS AN ELIGIBLE USE FOR THE LOCAL AND STATE FUNDS BACKGROUND: Burbank Avenue Apartments (Project) has been awarded four commitments of loan funds totaling $13,184,325 and sixteen (16) Project-Based Vouchers (PBVs). The loan funding and PBV commitments have been awarded to the Project over time and have been awarded to different borrower entities as the ownership structure of the Project has evolved. The borrower entities include Waterstone Residential, LLC, and WSA Burbank Housing Partners I, LP, a partnership with Burbank Housing Development Corporation (BHDC). Now fully funded, the Project has requested to transfer the ownership entity for all commitments to BHDC B...
Sponsors: Housing and Community Services
Indexes: Not a Project
Code sections: 15061(b)(3) - General Rule Exemption, 15378 - Not a Project
Attachments: 1. Staff Report, 2. Attachment 1, 3. Attachment 2, 4. Attachment 3, 5. Attachment 4, 6. Attachment 5, 7. Attachment 6, 8. Attachment 7, 9. Attachment 8, 10. Resolution, 11. Presentation
Related files: 23-807HA, 22-808HA, 21-817HA