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File #: 17-3081    Version: 1 Name: CED - Mission Heritage Project 10/17/17
Type: DISCUSSION CALENDAR Status: Agenda Ready
File created: 9/29/2017 In control: City Council
On agenda: 10/17/2017
Title: Housing Authority - Development Committee recommends Loan Agreement including Promissory Note, Deed of Trust, Regulatory Agreement, Notice of Affordability Restrictions, Release of Construction Covenants, Request for Notice of Default, Assignment of Plans, Reports and Data, and any other such related documents with Mission Heritage Limited Partnership for $3 million at simple interest rate of 3 percent with 55-year term from Housing Authority Fund Account for acquisition of land and construction of 72-unit affordable housing development, Fair Housing Council of Riverside County offices, and Civil Rights Institute on 1.47 acres - 3901 and 3933 Mission Inn Avenue, 3942 Sixth Street, and APNs 214-212-007, -008, -009, -010, -011, -012, and -013 - Supplemental appropriation (Community and Economic Development) (Ward 1)
Attachments: 1. Report, 2. Loan Agreement, 3. Promissory Note, 4. Deed of Trust, 5. Regulatory Agreement, 6. Notice of Affordability Restrictions, 7. Release of Construction Covenants, 8. Notice of Default, 9. Assignment of Plans Reports and Data, 10. Presentation