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Inst 2004013704
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Inst 2004013704
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Last modified
8/20/2009 5:49:38 PM
Creation date
8/19/2009 10:15:34 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
11/17/2003
Recorded Document Type
Loan Agreement
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PERM
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Reso 2003-229
(Approved by)
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\City Clerk\City Council\Resolutions\2003
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L~ <br />~ ORIGINAL <br />AMENDMENT NO. 1 TO <br />THE LOAN AGREEMENT BETWEEN THE CITY OF SAN LEANDRO AND LAS <br />' PALMAS DEVELOPMENT PARTNERS FOR ACQUISITION OF <br />APARTMENT BUILDING AT 15370-15375 TROPIC COURT <br />THIS AMENDMENT TO AGREEMENT is made at San Leandro, California, as of <br />November 17, 2003, by and between the CITY OF SAN LEANDRO (the "City"), and LAS <br />PALMAS DEVELOPMENT PARTNERS, a California Limited Partnership ("Recipient"). <br />This Amendment is made in contemplation of the following facts, understandings and <br />intentions of the parties: <br />A. On December 6, 1999, the City and Citizens Housing Corporation ("CHC") <br />entered into an Agreement ("Agreement") pertaining to the acquisition of property located at <br />15370-15375 Tropic Court, San Leandro, California, to be used to acquire a 91-unit apartment <br />complex, of which at least 49% of the units would become affordable housing, as agreed to in <br />said Agreement. CHC assigned all of its interest in the Agreement to Recipient with the <br />consent of the Agency. <br />B. The City and the Recipient desire to amend the Agreement to change the work <br />program of the project. <br />NOW, THEREFORE, the parties agree as follows: <br />1. EXHIBIT A, Work Program, shall be amended to add the following as new <br />Section 7: <br />"7. Recipient will convert one of the market-rate two-bedroom units at the <br />project into a Las Palmas Community Room to serve the tenants of Las <br />Palmas. The goal of the Las Palmas Community Room is to provide a <br />setting for providing amenities and services for residents of the 91-unit Las <br />Palmas project. The Las Palmas Community Room will offer an appropriate <br />setting for service and activities depending on resident needs and interest. <br />Specific programs will be planned and supervised by an in-house service <br />coordinator who works with tenants and social service agencies. The Las <br />Palmas Community Room will be approximately 800 square feet and is <br />anticipated to offer space for a computer lab, a service office for small group <br />meetings and one-on-one counseling, a kitchenette, and a larger space for <br />classes and larger group gatherings. The Las Palmas Community Room will <br />be adjacent to the Management Office so that management staff can offer <br />additional oversight of the facility." <br />2. In all other aspects the Agreement is hereby ratified, confirmed and shall continue <br />in full force and effect. <br />
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