Long Beach, CA
File #: 17-018CI    Version: 1 Name: AMCAL Acquisition
Type: CI-Agenda Item Status: Approved
File created: 5/17/2017 In control: The Long Beach Community Investment Company
On agenda: 5/25/2017 Final action: 5/25/2017
Title: Recommendation to 1. Approve a loan in the amount of $4,000,000 to AMCAL Multi-Housing, Inc. for the acquisition of the property located at 1795 Long Beach Boulevard; 2. Authorize the President to negotiate an Affordable Housing Loan Agreement with AMCAL Multi-Housing, Inc.; and, 3. Authorize the President to execute any and all documents necessary to implement the Loan Agreement and the project.
Attachments: 1. AMCAL.pdf, 2. Attachment A.pdf, 3. Attachment B.pdf, 4. Attachment C.pdf, 5. Attachment D.pdf

TITLE

Recommendation to

 

1. Approve a loan in the amount of $4,000,000 to AMCAL Multi-Housing, Inc. for the acquisition of the property located at 1795 Long Beach Boulevard;

 

2. Authorize the President to negotiate an Affordable Housing Loan Agreement with AMCAL Multi-Housing, Inc.; and,

 

3. Authorize the President to execute any and all documents necessary to implement the Loan Agreement and the project.

 

 

SUGGESTED ACTION

Approve recommendation.