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Title:
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Recommendation to:
1. Approve a construction loan in the amount of $12,276,000, and a permanent loan in the amount of $10,276,000 to a Limited Liability Company to be formed by Century Housing Corporation for the development of The Beacon Apartment Project located at 1201-1235 Long Beach Boulevard;
2. Authorize the President to negotiate an Affordable Housing Loan Agreement with a Limited Liability Company to be formed by Century Housing Corporation; and,
3. Authorize the President to execute any and all documents necessary to implement the Loan Agreement and the project.
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