City of Long Beach - File #: 11-013HC

• File #: 11-013HC
• Version: 1
• Name: Habitat for Humanity DDA Henderson/Chestnut/Magnolia
• Type: HC-Agenda Item
• Status: Approved
• File created: 3/3/2011
• In control: The Long Beach Housing Development Company
• On agenda: 3/16/2011
• Final action: 3/16/2011
• Title: Recommendation to: 1. Approve a First Amendment to the Disposition, Development and Loan Agreement with Habitat for Humanity of Greater Los Angeles to revise the second mortgage assistance amounts based on the appraisal value of the properties at the time of sale and on the actual income of the selected homebuyers; and 2. Authorize the President or designee to execute any and all documents necessary to implement the First Amendment to the Disposition, Development and Loan Agreement.
• Sponsors: The Long Beach Housing Development Company, Development Services

Date	Ver.	Action By	Action	Result
3/16/2011	1	The Long Beach Housing Development Company	approve recommendation	Pass

TITLE

Recommendation to:

1.                     Approve a First Amendment to the Disposition, Development and Loan Agreement with Habitat for Humanity of Greater Los Angeles to revise the second mortgage assistance amounts based on the appraisal value of the properties at the time of sale and on the actual income of the selected homebuyers; and

2.                     Authorize the President or designee to execute any and all documents necessary to implement the First Amendment to the Disposition, Development and Loan Agreement.

SUGGESTED ACTION

Approve recommendation.