Long Beach, CA
File #: 18-028CI    Version: 1 Name: 14th Street DDA - Staff Report
Type: CI-Agenda Item Status: Approved
File created: 9/11/2018 In control: The Long Beach Community Investment Company
On agenda: 9/19/2018 Final action: 9/19/2018
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 116 West 14th Street, 124 West 14th Street, 1348 Pacific Avenue, 1339 Pine Avenue and 1347 Pine Avenue to Habitat for Humanity Greater Los Angeles; 2. Approve a loan in the amount of $990,000 to Habitat for Humanity Greater Los Angeles to provide gap financing for the development of the properties at 116 West 14th Street, 124 West 14th Street, 1348 Pacific Avenue, 1339 Pine Avenue and 1347 Pine Avenue; and 3. Authorize the President or designee to execute any and all documents necessary to implement the Disposition and Development and Loan Agreements.
Attachments: 1. 14th St. DDA Staff Report.pdf, 2. Attachment A.pdf, 3. Attachment B.pdf, 4. Attachment C.pdf, 5. Attachment D.pdf

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 116 West 14th Street, 124 West 14th Street, 1348 Pacific Avenue, 1339 Pine Avenue and 1347 Pine Avenue to Habitat for Humanity Greater Los Angeles;

 

2. Approve a loan in the amount of $990,000 to Habitat for Humanity Greater Los Angeles to provide gap financing for the development of the properties at 116 West 14th Street, 124 West 14th Street, 1348 Pacific Avenue, 1339 Pine Avenue and 1347 Pine Avenue; 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.