Legislation Details

File #: 26-229    Version: 1 Name:
Type: Discussion/Action Item Status: Agenda Ready
File created: 9/9/2026 In control: City Council
On agenda: 9/22/2026 Final action:
Title: Housing Asset Funding Commitment Letter to Satellite Affordable Housing Associates RECOMMENDATION: By resolution, approve a commitment letter outlining preliminary loan terms for the award of $2,500,000 in Housing Asset Funds to Satellite Affordable Housing Associates (“SAHA”) to support affordable housing development and authorize staff to negotiate, draft, and execute loan documents that carry out the terms of the commitment letter.
Attachments: 1. Staff Report, 2. Attach 1 - Resolution, 3. Attach 2 - Loan Commitment Letter
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Title

Housing Asset Funding Commitment Letter to Satellite Affordable Housing Associates

RECOMMENDATION:

By resolution, approve a commitment letter outlining preliminary loan terms for the award of $2,500,000 in Housing Asset Funds to Satellite Affordable Housing Associates (“SAHA”) to support affordable housing development and authorize staff to negotiate, draft, and execute loan documents that carry out the terms of the commitment letter.