Long Beach, CA
File #: 17-003CI    Version: 1 Name: Century Housing - The Beacon
Type: CI-Agenda Item Status: Approved
File created: 1/10/2017 In control: The Long Beach Community Investment Company
On agenda: 1/18/2017 Final action: 1/18/2017
Title: Recommendation to 1. Approve additional permanent loan funds in the amount of $2,000,000 to provide a total permanent loan of $12,276,000 to a Limited Liability Company to be formed by Century Housing Corporation for the development of The Beacon apartments located 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.
Attachments: 1. Beacon Memo.pdf, 2. Beacon Site Map.pdf, 3. Beacon Attachment B.pdf, 4. Beacon Attachment C.pdf, 5. Beacon Attachment D.pdf

TITLE

Recommendation to

 

1. Approve additional permanent loan funds in the amount of $2,000,000 to provide a total permanent loan of $12,276,000 to a Limited Liability Company to be formed by Century Housing Corporation for the development of The Beacon apartments located 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.

 

SUGGESTED ACTION

Approve recommendation.