Long Beach, CA
File #: 19-031CI    Version: 1 Name: Approval of a HOME Loan to Home Ownership for Personal Empowerment (HOPE) for the Acquisition and Rehabilitation of 4713 Clark Avenue (CD 5)
Type: CI-Agenda Item Status: Approved
File created: 8/14/2019 In control: The Long Beach Community Investment Company
On agenda: 8/21/2019 Final action: 8/21/2019
Title: Recommendation to: 1. Approve a HOME loan in the amount of $1.18 million to Home Ownership for Personal Development (HOPE) for the acquisition and rehabilitation of 4713 Clark Avenue; 2. Authorize the President to negotiate an Affordable Housing Loan Agreement with Home Ownership for Personal Empowerment; and, 3. Authorize the President or designee to execute any and all documents necessary to implement the Loan Agreement and the project.
Attachments: 1. HOPE-Clark Loan.doc.pdf, 2. Attachment A - Site Map and Photographs.pdf, 3. Attachment B - June 19, 2019 Staff Report.pdf, 4. Attachment C - KMA Analysis.pdf

TITLE

Recommendation to:

1.                     Approve a HOME loan in the amount of $1.18 million to Home Ownership for Personal Development (HOPE) for the acquisition and rehabilitation of 4713 Clark Avenue;

 

2.                     Authorize the President to negotiate an Affordable Housing Loan Agreement with Home Ownership for Personal Empowerment; and,

 

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

 

 

SUGGESTED ACTION

Approve recommendation.