MOTION
Moved by Housing Authority Member ____________________________, seconded by Housing Authority Member ___________________________ that the Executive Director, or his designee, is hereby authorized to terminate the existing Affordable Housing Acquisition Loan Agreement and related documents (“AHA”), including reconveyance of a deed of trust and termination and release of affordability covenants, between the Housing Authority and Verdugo Housing Corporation, all as outlined in the Joint Report to Council and Housing Authority dated December 2, 2025 from the Director of Community Development. Any documents necessary to be executed in connection with termination of the AHA shall be subject to approval as to form by the City Attorney.
Vote as follows:
Ayes:
Noes:
Absent:
Abstain: