SFGTV March 24, 2014
Loan and it wont change the nature of the enforceable obligation. Additionally, the investor and tax attorney have requested that the terms regarding the distribution of surplus cash in the Loan Agreement are consistent with the ground lease. Which has onethird of the surplus cash paid to the developer up to 50,000 and twothirds paid to the city to pay down the ocii and [speaker not understood] cd loans. All of these technical clarifications are consistent with the citys underwriting guidelines and with your approval today, staff anticipates bond closing and construction in april. And that con...