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10/14/02 LES E. The forty-eight buildings in the Cornerstone Village project area primarily offer one-bedroom units and the Owner Participation Agreement ("OPA") executed by all participating owners established the maximum rent and occupancy standards for said units. Units in some of the buildings are being reconfigured to offer up to three bedrooms. The OPA must now be amended to restrict occupancy for these larger units to households with no more than seven persons. Rents for these larger units will be calculated consistent with the current OPA; and, F. Currently, owners of forty-six out of the forty-eight buildings in the project area are participating in the Cornerstone Village Improvement Program. The owner of the remaining two buildings located at 1105 and 1109 S. Minnie Street now desires to participate in the Improvement Program. The fagade and courtyard improvements to said buildings will not exceed $97,550. This is consistent with the entire block and will establish 100% owner participation in the Project Area; and, G. Wakeham-Grant, LLP, purchased eight buildings in the Cornerstone Project Area and was given various loans pursuant to the fagade and courtyard and stair and balcony programs, as well as the general property improvement program. As the rehabilitation work has progressed, Wakeham-Grant, LLP has determined that the repairs are more extensive than originally anticipated and budgeted. Wakeham-Grant, LLP is requesting additional loans in an amount not to exceed $80,000 to complete all necessary repairs. Section 2. The Cornerstone Village Improvement Program and amended budget, which includes an additional amount not to exceed $100,000 for the Public Improvement component, as well as the Fagade and Courtyard Loans for 1105 and 1109 S. Minnie Street in an amount not to exceed $97,550, are hereby approved. Section 3. An amendment to the Cornerstone Village Owner Participation Agreement is hereby authorized to include rent and occupancy restrictions for three-bedroom units. Section 4. A new loan to Wakeham-Grant, LLP, for interior and exterior repairs in an amount not to exceed $80,000 is hereby approved, and the Executive Director of the Agency is hereby authorized to execute loan documents and any related instruments on behalf of the Agency, with approval of Agency General Counsel.