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1999/07/28 Council Minutes
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1999/07/28 Council Minutes
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10/16/2020 2:59:01 PM
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Council Minutes
Date
7/28/1999
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• <br /> July 211.PPM <br /> Rg.,Agree....MayI.1970.and the Use Agreement and <br /> Amendment of Regulatory Agreement danad Apnl I.1995. <br /> G.Establish the order below Mr the security,documents and <br /> agreements which will.recor.ageing the Twelve Pines Apattments <br /> in the followitw onlw or prioriP, <br /> •Washington Mate Housing R.I.Commission R.latorY Agreent. <br /> Marta Ilse Agreement,-ads agmernem requi. <br /> ..cretins and will he teem.at the Mae the tax credits are received <br /> and is subj.to being int form acceptable to the City AIM.end Ow <br /> Mayor. <br /> •Rent Restriction Covenant.A, lrequired by the cny in connection <br /> with City lam por SnoltomPh County and RIM requirements. <br /> •1.and Regulatory Agreement hen.n Audbority and Me lion. <br /> partnership Wontoins the pannership,repayment obligations with res.to <br /> a portion of the bonds and the taaahle and taxwbempt note loaned to the <br /> PrinnershiP to RP eosta Project contains State and Pederal sm. <br /> aside requirement. <br /> •Memorandum or WM!with rm.to the financing law.t.en the <br /> • <br /> Amhority and the paPnershi,Was.or ProPertY AuthoMY <br /> Pannembir,coma..Pannemlng's repayment obligations widt respect to <br /> hoods and City loan;also contains low.ineorre saws. <br /> rtquiremems or State and...law). <br /> •Leasehold D.or Tryl given by 1,nership 99We tro for the <br /> wee.,rep..or the eo.and=Inhering Par.mhiP, <br /> leasehold uner.in the pro.ny. <br /> •Dmr1 og Tr=given by I.AuthornY M the CitY.a.m.repayment or the <br /> Cny loan and encumbering the AuMori,y,ownership interest in Pe <br /> property <br />
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