MOTION
Moved by Housing Authority Member ____________________________, seconded by Housing Authority Member ___________________________ that the Executive Director, or his designee, is hereby authorized to execute amendments to the existing ground lease, the existing affordable housing agreement, and other such related existing documents/agreements pertaining to Metro Loma Apartments, an affordable rental housing project located at 328 Mira Loma Avenue (“Agreements”), in order to make changes to such Agreements as outlined in the Joint Report to Council and Housing Authority dated August 12, 2025 from the Director of Community Development and to effectuate the transfer to and/or assignment of a new borrower/lessee from Metro Loma, LP to Linc Housing’s newly created entity, Linc 328 Mira Loma LLC. Further, the Executive Director, or his designee, is hereby authorized to execute any and all documents related to said Agreements, including all exhibits and/or attachments to said Agreements that are necessary to effectuate the intent of the Agreements, to effectuate the transfer to and/or assignment of a new borrower/lessee of Metro Loma Apartments, Linc 328 Mira Loma LLC. Said Agreements shall be subject to approval as to form by the City Attorney.
Vote as follows:
Ayes:
Noes:
Absent:
Abstain: