Title:
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Recommendation to:
1. Approve a HOME loan in the amount of $3 Million to Mercy Housing California for the development of senior affordable rental housing units located at 901-945 East Pacific Coast Highway; and,
2. Authorize the President to negotiate an Affordable Housing Loan Agreement with Mercy Housing California; and,
3. Authorize the President, or designee, to execute any and all documents necessary to implement the Loan Agreement and the project.
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