MOTION
Moved by Housing Authority Member ____________________________, seconded by Housing Authority Member ___________________________ that the Executive Director, or his designee, is hereby authorized to execute a First Amendment to Lease Agreement, Ground Lessor Estoppel Certificate, and Subordination Agreement for Glendale City Lights, located at 3673 San Fernando Road (“Agreements”), in order to refinance existing senior mortgage debt, as outlined in the Joint Report to Council and Housing Authority dated October 6, 2026 from the Director of Community Development.
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. Said Agreements shall be subject to approval as to form by the City Attorney.
Vote as follows:
Ayes:
Noes:
Absent:
Abstain: