Long Beach, CA
File #: 12-016HC    Version: 1 Name:
Type: HC-Agenda Item Status: Approved
File created: 10/22/2012 In control: The Long Beach Housing Development Company
On agenda: Final action: 11/7/2012
Title: Recommendation to approve a loan of up to $850,000 in HOME funds to Immanuel Community Housing, L.P. to provide gap financing for the development of Immanuel Church into a 25-unit affordable senior rental project; authorize the President or designee to negotiate and enter into a Loan Agreement with Immanuel Community Housing, L.P.; and authorize the President or designee to execute any and all documents necessary to implement the Loan Agreement.
Attachments: 1. Staff Report Immanuel.pdf
TITLE
Recommendation to approve a loan of up to $850,000 in HOME funds to Immanuel Community Housing, L.P. to provide gap financing for the development of Immanuel Church into a 25-unit affordable senior rental project; authorize the President or designee to negotiate and enter into a Loan Agreement with Immanuel Community Housing, L.P.; and authorize the President or designee to execute any and all documents necessary to implement the Loan Agreement.
 
SUGGESTED ACTION
Approve recommendation.