Long Beach, CA
File #: 18-008CI    Version: 1 Name: AMCAL Predevelopment Loan
Type: CI-Agenda Item Status: Approved
File created: 2/13/2018 In control: The Long Beach Community Investment Company
On agenda: 2/21/2018 Final action: 2/21/2018
Title: Recommendation to 1. Approve a predevelopment loan in the amount of $250,000 to AMCAL Multi-Housing, Inc. for the property located at 1795 Long Beach Boulevard; 2. Authorize the President to negotiate a Predevelopment Loan Agreement with AMCAL Multi-Housing, Inc.; and, 3. Authorize the President to execute any and all documents necessary to implement the Loan Agreement.
Attachments: 1. AMCAL_1795 LBB_Staff Report.pdf, 2. AMCAL_1795 LBB_Attachment A.pdf, 3. AMCAL_1795 LBB_Attachment B.pdf

TITLE

Recommendation to

1. Approve a predevelopment loan in the amount of $250,000 to AMCAL Multi-Housing, Inc. for the property located at 1795 Long Beach Boulevard;

 

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

 

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

 

SUGGESTED ACTION

Approve recommendation.