TITLE
Recommendation to:
1. Authorize the President or designee to negotiate and enter into a Disposition and Development Agreement for the conveyance of the properties at 1411 Pine Avenue, 105 W. 14th Street, and 228 W. 14th Street to Habitat for Humanity Greater Los Angeles subject to any Redevelopment Agency and City Council approvals that are required by the California Health and Safety Code;
2. Approve a loan of up to $485,700 to Habitat for Humanity Greater Los Angeles to provide gap financing for the development of the properties at 1411 Pine Avenue, 105 W. 14th Street, and rehabilitation of 228 W. 14th Street; and
3. Authorize the President or designee to execute any and all documents necessary to implement the Disposition and Development and Loan Agreements.
SUGGESTED ACTION
Approve recommendation.