Long Beach, CA
File #: 17-035CI    Version: 1 Name: LINC Housing Corporation
Type: CI-Agenda Item Status: Approved
File created: 10/11/2017 In control: The Long Beach Community Investment Company
On agenda: 10/18/2017 Final action: 10/18/2017
Title: Recommendation to 1. Authorize the President of designee to negotiate and enter into a Disposition and Development Agreement for the conveyance of the properties at 1900-1940 Long Beach Boulevard to LINC Housing Corporation; 2. Approve a loan in the amount of $3,000,000 to LINC Housing Corporation to provide gap financing for the development of the properties at 1900-1940 Long Beach Boulevard; and 3. Authorize the President of designee to execute any and all documents necessary to implement the Disposition and Development and Loan Agreements.
Attachments: 1. LINC Housing.pdf, 2. Attachment A - site map.pdf, 3. Attachment B.pdf, 4. Attachment C - site rendering.pdf, 5. Attachment D - KMA Financial Gap Analysis.pdf

TITLE

Recommendation to

 

1. Authorize the President of designee to negotiate and enter into a Disposition and Development Agreement for the conveyance of the properties at 1900-1940 Long Beach Boulevard to LINC Housing Corporation;

 

2. Approve a loan in the amount of $3,000,000 to LINC Housing Corporation to provide gap financing for the development of the properties at 1900-1940 Long Beach Boulevard; and

 

3. Authorize the President of designee to execute any and all documents necessary to implement the Disposition and Development and Loan Agreements.

 

SUGGESTED ACTION

Approve recommendation.