City of Long Beach - File #: 11-034HC

• File #: 11-034HC
• Version: 1
• Name: Bellwood Apartments-6301 Atlantic
• Type: HC-Agenda Item
• Status: Approved
• File created: 6/8/2011
• In control: The Long Beach Housing Development Company
• On agenda: 6/15/2011
• Final action: 6/15/2011
• Title: 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.
• Sponsors: The Long Beach Housing Development Company, Development Services
• Related files: 11-045HC

Date	Ver.	Action By	Action	Result
6/15/2011	1	The Long Beach Housing Development Company	approve recommendation	Pass

TITLE

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.

SUGGESTED ACTION

Approve recommendation.