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6. STAFF REPORTS Page 156 <br />6.A. Resolution approving a loan assumption and subordination request to support <br />the reconstruction of affordable apartments located at 531 Woodside Road <br />(Hallmark House) <br />Recommendation: <br />Adopt a resolution (1) approving a loan assumption and subordination request <br />for an existing loan from the City to KDF Hallmark, (2) authorizing the City <br />Manager or designee to execute the documents listed below, subject to any <br />minor, clarifying and conforming changes approved by the City Attorney, and (3) <br />authorizing the City Manager to take all actions necessary to complete this <br />transaction, including execution of any other necessary documents: <br />1. Assignment and Assumption Agreement <br />2. First Amendment to Declaration of Affordability Covenants <br />3. First Amendment to Deed of Trust with Assignment of Rents <br />4. First Amendment to Owner Participation Agreement <br />5. First Amendment to Promissory Note <br />6. Subordination Agreement <br />CEQA: <br />This is not a project under California Environmental Quality Act (CEQA) <br />6.13. Update to preliminary ten-year General Fund forecast considering potential <br />financial impacts associated with COVID-19 <br />Recommendation: <br />Accept an update to the Preliminary Ten -Year General Fund Forecast <br />CEQA: <br />This is not a project under California Environmental Quality Act (CEQA) <br />6.C. Oral update on the City's response to Novel Coronavirus (COVID-19) <br />Recommendation: <br />Oral informational update on the City's response to Novel Coronavirus (COVID- <br />19). <br />CEQA: <br />This is not a project under California Environmental Quality Act (CEQA) <br />Page 4 of 5 <br />