Title
87 East Evelyn Avenue Lease, Disposition, Development, and Loan Agreement
Recommended Action
1. Approve negotiated lease, disposition, development, and loan agreement terms between the City and the developer, Affirmed Housing, for the development of 87 East Evelyn Avenue.
2. Authorize the City Manager or designee to negotiate and execute the Lease, Disposition, Development, and Loan Agreement (LDDLA) with Affirmed Housing for the development of affordable housing at 87 East Evelyn Avenue, and related documents necessary for City financing for the development.
3. Appropriate $8 million in Housing Impact funds for the Affirmed Housing 268-unit affordable housing development located at 87 East Evelyn Avenue. (Five votes required)