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11-031HC
| 1 | 1. | Board Minutes 5/18/11 | HC-Agenda Item | Recommendation to receive and file the minutes of the regular meeting of May 18, 2011. | received and filed | Pass |
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11-034HC
| 1 | 2. | Bellwood Apartments-6301 Atlantic | HC-Agenda Item | Recommendation to:
1. Approve a loan of up to $5,900,000 to a to-be-formed partnership, in which Hunt Capital Partners, LLC or its affiliate acts as the general partner, for the acquisition and rehabilitation of an apartment building located at 6301 Atlantic Ave. ;
2. Authorize the President or designee to negotiate and enter into a Loan Agreement with a to-be-formed partnership, in which Hunt Capital Partners, LLC or its affiliate acts as the general partner; and
3. Authorize the President or designee to execute any and all documents necessary to implement the recommended actions above. | approve recommendation | Pass |
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11-033HC
| 1 | 3. | Evergreen Apartments - 68 St. & Freeman Ave. | HC-Agenda Item | Recommendation to:
1. Approve a loan of up to $2,702,000 to a to-be-formed partnership, in which Abode Communities or its affiliate acts as the general partner, for the rehabilitation of the apartment buildings located at 1801 and 1823 E. 68th Street, and 1528 Freeman Avenue, with conditions;
2. Authorize the President or designee to negotiate and enter into a Loan Agreement with a to-be-formed partnership, in which Abode Communities or its affiliate acts as the general partner;
3. Authorize the President or designee to execute any and all documents necessary to implement the Loan Agreement; and
4. Authorize the reconveyance of the existing LBHDC affordability covenants to allow for a new 55-year covenant. | approve recommendation | Pass |
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11-035HC
| 1 | 4. | Ramona Park Sr. Apts. | HC-Agenda Item | Recommendation to:
1. Approve a loan of up to $12,000,000 to Palm Desert Development Company to provide gap financing for the development of a 61-unit senior rental project located at 3290 East Artesia Boulevard, with conditions;
2. Authorize the President or designee to negotiate and enter into an Agreement with Palm Desert Development Company; and
3. Authorize the President or designee to execute any and all documents necessary to implement the Agreement. | approve recommendation | Pass |
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11-032HC
| 1 | 5. | Andy Street Rehab | HC-Agenda Item | Recommendation to:
1. Approve a budget of up to $462,180 for the rehabilitation of 3361 Andy Street and relocation of existing tenants; and
2. Authorize the President or designee to execute any and all documents necessary to implement the recommended actions above. | approve recommendation | Pass |
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11-036HC
| 1 | 6. | Adopt FY12 Budget | HC-Agenda Item | Recommendation to...Adopt FY12 Budget | approve recommendation | Pass |
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11-037HC
| 1 | 7. | Committee Minutes | HC-Agenda Item | Recommendation to receive and file committee minutes. | | |
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11-038HC
| 1 | 8. | Reports of the President | HC-Agenda Item | Recommendation to receive and file the reports of the President. | | |
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