Title:
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Recommendation to:
1. Approve the selection of Jamboree Housing Corporation (Jamboree) for an award of Community Development Block Grant (CDBG) funds in the amount of $2,100,000;
2. Approve a loan in the amount of $2,100,000 in CDBG funds to Jamboree for the acquisition of the property located at 101 East Pacific Coast Highway;
3. Authorize the President to negotiate an Affordable Housing Loan Agreement with Jamboree; and,
4. Authorize the President to execute any and all documents necessary to implement the Loan Agreement and the project.
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