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RESOLUTION NO. 15578 OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br />CITY APPROVING A FUNDING COMMITMENT TO PROVIDE A LOAN OF <br />AFFORDABLE HOUSING FUNDS IN CONNECTION WITH THE ACQUISITION <br />OF PROPERTY LOCATED AT 3752-3770 ROLISON ROAD FOR AFFORDABLE <br />HOUSING PRESERVATION CONTINGENT UPON THE PREPARATION OF <br />LOAN DOCUMENTS (MIDPEN HOUSING) <br />D. Funding Commitment to Provide a Loan for Acquisition of 1512 <br />Stafford Street—Affordable Rental Housing (301) <br />Recommendation: <br />Approve by resolution a commitment to provide a loan of $1,099,000 in <br />Affordable Housing Funds to HIP Housing Development Corporation <br />(HHDC) for the acquisition of 1512 Stafford Street, contingent upon <br />preparation and Council approval of loan documents on or before June 1, <br />2017 based upon the terms as specified in the staff report <br />RESOLUTION NO. 15579 OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br />CITY APPROVING A FUNDING COMMITMENT TO PROVIDE A LOAN OF <br />AFFORDABLE HOUSING FUNDS IN CONNECTION WITH THE ACQUISITION <br />OF PROPERTY LOCATED AT 1512 STAFFORD STREET FOR AFFORDABLE <br />HOUSING PRESERVATION CONTINGENT UPON THE PREPARATION OF <br />LOAN DOCUMENTS (HIP HOUSING DEVELOPMENT CORPORATION) <br />E. Appeal of Planning Commission Resolution No. 17-02 approving a <br />Downtown Planned Community Permit (DPC2016-003) including eleven <br />guideline deviations, Vesting Tentative Map and Condominium Permit <br />(TM2016-003), Planned Development Permit (PD2016-003), Affordable <br />Housing Plan, and Affordable Housing Density Bonus to develop a new <br />4 to 6 -story, 379,502 square foot, multi -family residential building at <br />801 Brewster Avenue pursuant to the City of Redwood City's <br />Downtown Precise Plan and Subdivision Ordinance (603) <br />Recommendation: <br />Hold a Public Hearing and Adopt a Resolution (Attachment 1) approving the <br />Downtown Planned Community Permit including eleven guideline deviations, <br />Vesting Tentative Map, Condominium Permit, Planned Development Permit, <br />Affordable Housing Plan, and Affordable Housing Density Bonus based on <br />the findings and subject to the conditions of approval listed therein, and upon <br />consideration of the Initial Study Checklist demonstrating compliance with <br />the Downtown Precise Plan Environmental Impact Report (EIR) as certified <br />on January 24, 2011 <br />JOINT CITY COUNCIL/SUCCESSOR AGENCY BOARD/ April 24, 2017 <br />PUBLIC FINANCING AUTHORITY MEETING MINUTES PAGE 7 <br />MINUTE BOOK NO. 66 <br />Page No. 288 <br />