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Everett Housing Authority 5/30/2017
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Everett Housing Authority 5/30/2017
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Last modified
6/13/2017 10:18:15 AM
Creation date
6/13/2017 10:18:11 AM
Metadata
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Contracts
Contractor's Name
Everett Housing Authority
Approval Date
5/30/2017
Department
Planning
Department Project Manager
Rebecca McCrary
Subject / Project Title
Wiggums Park Place 12 Pines Loan Syndication
Tracking Number
0000726
Total Compensation
$0.00
Contract Type
Agreement
Retention Period
6 Years Then Destroy
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CERTIFICATE OF MAYOR APPROVING <br /> ISSUANCE OF OBLIGATIONS BY <br /> HOUSING AUTHORITY OF THE CITY OF EVERETT <br /> (Wiggums Park Place Project) <br /> I am in receipt of the attached letter from the Housing Authority of the City of Everett <br /> (the"Authority") dated May 4, 2017 (the "Authority Letter"), advising the City of Everett, <br /> Washington (the"City") that the Authority intends to issue certain obligations <br /> (the"Obligations") pursuant to a plan of financing, which may consist of multiple issues as <br /> described in the Authority Letter (the "Plan of Financing") with respect to the project further <br /> described below (the "Project"). The Authority has advised the City that the Project will be <br /> owned, for federal income tax purposes, by Wiggums Park Place LLLP, a Washington limited <br /> liability limited partnership of which the Authority is the sole general partner (the"Borrower") <br /> and that proceeds of the Obligations will be used to make a loan or loans to the Borrower. The <br /> Obligations, the Project and the proposed financing are further described below: <br /> Project Description: Finance the acquisition and rehabilitation of an <br /> approximately 80-unit apartment complex,to <br /> provide housing for low-income persons, as a <br /> qualified residential rental project under Section <br /> 142(d)of the Code <br /> Maximum Amount of Obligations: $13,000,000 <br /> Project Operator: Wiggums Park Place LLLP, a Washington limited <br /> liability limited partnership of which the Authority <br /> is the sole general partner <br /> Project Location: Located in the City of Everett, Washington; <br /> bordered by Poplar Street on the West, 10th Street <br /> on the North, 12 Street on the South and Wiggums <br /> Hollow Park on the East, with the rental office <br /> located at 2701 12th Street, Everett, Washington <br /> The Mayor is a City-wide elected official, the City has jurisdiction over the location of <br /> the Project and the Authority has advised the City that the Authority's bond counsel has <br /> determined that the Mayor represents the City for the purposes of the approval of the issuance of <br /> the Obligations pursuant to the Plan of Financing as required by Section 147(f)of the Code. <br />
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