https://sanmateocounty.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=4930307&GUID=B3CFB03E-4B74-442E-9FDD-6B179EDF4F08&G=1088EC25-A43A-408F-A57C-73C0A70269ABLegistar15https://sanmateocounty.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=4930307&GUID=B3CFB03E-4B74-442E-9FDD-6B179EDF4F08&G=1088EC25-A43A-408F-A57C-73C0A70269ABB3CFB03E-4B74-442E-9FDD-6B179EDF4F08-2023-04-28-15-35-10Title: Adopt a resolution authorizing the Director of the Department of Housing, or designee, in consultation with County Counsel, to negotiate and execute amendments to existing Deed of Trust and Assignment of Rents, Declaration of Restrictive Covenant, Loan Agreement and Promissory Note (collectively, “Loan Documents”) memorializing a loan to EPA Woodlands Associates, L.P., for the purpose of developing affordable rental housing in Menlo Park in a total amount of $190,000 for a term of fifty-five (55) years from January 7, 1992 to January 7, 2032 to (a) become a residual receipts loan accruing three (3) percent simple interest beginning January 1, 2020, (b) forgive accrued interest in a total amount of $834,862, and (c) extend the maturity of the loan from 2032 to 2075 and the effective term of the Affordability Covenant an additional 55 years from January 1, 2020.Fri, 28 Apr 2023 15:35:10 GMT