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815 N. HARBOR, L.P. (HOME INVESTMENT PARTNERSHIP PROGRAM FUNDS) 2-2015
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815 N. HARBOR, L.P. (HOME INVESTMENT PARTNERSHIP PROGRAM FUNDS) 2-2015
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8/24/2015 11:03:28 AM
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8/19/2015 2:54:59 PM
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Contracts
Company Name
815 N. HARBOR, L.P. (HOME INVESTMENT PARTNERSHIP PROGRAM FUNDS)
Contract #
A-2015-029
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
2/17/2015
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EXHIBIT D <br />PROJECT SCHEDULE & TASKS <br />A. GENERAL <br />Insurance. Developer shall furnish or cause to be furnished As a Condition Precedent to <br />appropriate certificates of insurance and/or endorsements to disbursement of any portion of <br />City which meet all requirements of the Agreement. the loans, but no later than ten <br />(10) days after close of escrow. <br />B. PROJECT FINANCING <br />Submission of Evidence of Financing. Developer shall submit Not later than thirty (30) days <br />to City evidence of financing for the Project after allocation of tax exempt <br />bond financing for the Project <br />by CDLAC and /or tax credit <br />financing by CTCAC, but no <br />later than July 31, 2015. <br />2. Receipt of All Funding Commitments Necessary to Complete <br />Construction of the Improvements. Developer shall use its best <br />and good faith efforts to secure irrevocable funding <br />commitments from CDLAC and /or TCAC, Senior Lender, and <br />other available funding sources which when combined with the <br />Loans shall equal no less than the total cost to construct the <br />Improvements, as set forth in the approved Project Budget. <br />Developer shall submit such commitments to City for review. <br />Not later than thirty (3 0) days <br />after allocation of tax exempt <br />bond financing for the Project <br />by CDLAC and/or tax credit <br />financing by CTCAC, but no <br />later than July 31, 2015. <br />Approval of Developer's Evidence of Financing. City must Not later than twenty (20) <br />approve Developer's evidence of financing as required by the business days after receipt of a <br />Agreement. complete submittal from <br />Developer <br />C. CONSTRUCTION OF INIPROVEMENTS <br />Design Development Drawings. Developer shall prepare and Within seven (7) months <br />submit Design Development Drawings to City for review and following the date of the <br />approval. Agreement. <br />2. Approval of Design Development Drawings. City Housing Within fourteen (14) days of <br />staff shall review and approve, approve with conditions, or Developer's complete <br />disapprove the Design Development Drawings. submittal of the Design <br />Development Drawings. <br />
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