Resolution approving the execution and delivery of a multifamily housing revenue note not to exceed $84,116,000 for the construction of a 127-unit (plus one manager's unit) multifamily rental housing project at 505 Mayor Edwin M. Lee Avenue (formerly 11 Frida Kahlo Way), known as “Balboa Reservoir - Building E.” The project aims to provide housing for persons and families of low income. The resolution also approves a funding loan agreement, a project loan agreement with Balboa Lee Avenue, L.P. (the “Borrower”), and a regulatory agreement with restrictive covenants. It authorizes the collection of certain fees and ratifies previous actions related to the financing. The governmental lender is authorized to execute and deliver the note, and any tax-exempt portion will not exceed the allocation amount. The note will bear interest not exceeding 12% per annum and has a final maturity date not later than 40 years from the execution and delivery date. The city will charge an annual issuer fee for monitoring compliance with the regulatory agreement.