|
1044-18
| A | | Reports | Communication | Subject: Reports:
A. Delinquency Report
B. LBR Financial Report
C. Monthly Activity Report
D. Property Disposition Report | Received and Filed | Pass |
Action details
|
Not available
|
|
1060-18
| A | | Direct Referral | Communication | Subject: (Direct Referral) Request for an amendment to the Multifamily Revolving Loan Fund Program (Res No. 0104-17)
Recommendation of the Loan Board of review on 10-11-2018: That the recommendation of amendment of the CDBG Multifamily Revolving Loan Program regulations as presented by City Development staff, and to permit commitment and expenditure of any funds allocated to the Multifamily Revolving Loan Fund in 2018 or subsequent years be approved.
Fiscal Note: N/A | Recommended For Approval | Pass |
Action details
|
Not available
|
|
1061-18
| A | | Direct Referral (Res. 0325-18) | Communication | Subject: (Direct Referral) Request by Lutheran Social Services for a CDBG Multifamily Loan for 1701 Packard Avenue (“Gold Medal Lofts”) (Res. 0325-18)
Recommendation of the Loan Board of Review on 10-11-2018: That the resolution to Loan Lutheran Social Services $1,320,000 for acquisition costs of 1701 Packard Avenue at 1% interest over 20 years contingent on cash flow be approved. Mortgage, note, and CDBG agreement to be signed at closing contingent on full project financing, environmental clearance, and compliance with all Federal, State, and local laws.
Fiscal Note: There are sufficient CDBG Housing Loan funds available to meet this request following reallocation as recommended by City Development staff. The CDBG funds shown above are inclusive of the amount previously allocated to the project through Resolution 0395-17. | Recommended For Approval | Pass |
Action details
|
Not available
|
|
1062-18
| A | | Direct Referral (Res. 0326-18) | Communication | Subject: (Direct Referral) Request by Brinshore Development for a CDBG Multifamily Loan for the St. Paul Commons project. (Res. 0326-18)
Recommendation of the Loan Board of Review on 10.11.2018: That the resolution to Brinshore Development for up to $350,000 for eligible costs related to the St. Paul Commons project at 1% interest over 20 years contingent on cash flow be approved. Mortgage, note, and CDBG agreement to be signed at closing contingent on full project financing, environmental clearance, and compliance with all Federal, State, and local laws.
Fiscal Note: There are sufficient CDBG Housing Loan funds available to meet this request following reallocation as recommended by City Development staff. | Recommended For Approval | Pass |
Action details
|
Not available
|
|
1063-18
| A | | Direct Referral (Res. 0327-18) | Communication | Subject: (Direct Referral) Request by Cardinal Capital Management for a CDBG Multifamily Loan for the Ajax Redevelopment at 1520 Clark Street.(Res. 0327-18)
Recommendation of the Loan Board of Review on 10-11-2018: That the resolution to Cardinal Capital Management for $600,000 for eligible costs related to the Ajax Redevelopment at 1% interest over 20 years contingent on cash flow be approved. Mortgage, note, and CDBG agreement to be signed at closing contingent on full project financing, environmental clearance, and compliance with all Federal, State, and local laws.
Fiscal Note: There are sufficient CDBG Housing Loan funds available to meet this request following reallocation as recommended by City Development staff. | Recommended For Approval | Pass |
Action details
|
Not available
|
|
1064-18
| A | | Direct Referral (Res. 0328-18) | Communication | Subject: (Direct Referral) Request by J. Jeffers and Co. for a Multifamily Loan for the Horlick Lofts project at 2100 Northwestern Avenue.(Res. 0328-18)
Recommendation of the Loan Board of Review on 10-11-2018: That the resolution to J. Jeffers and Co. for up to $250,000 for eligible costs related to the Horlick Lofts project at 1% interest over 20 years contingent on cash flow be approved. Mortgage, note, and CDBG agreement to be signed at closing contingent on full project financing, environmental clearance, and compliance with all Federal, State, and local laws.
Fiscal Note: There are sufficient CDBG Housing Loan funds available to meet this request following reallocation as recommended by City Development staff. | Recommended For Approval | Pass |
Action details
|
Not available
|
|
1065-18
| A | | Direct Referral | Communication | Subject: Request by the Manager of Housing and Community Development to transfer funds into the Multifamily Revolving Loan Fund
Staff Recommendation: That the request to transfer funds between loan pools as presented by City Development staff be approved.
Fiscal Note: There are sufficient CDBG Housing Loan funds available to meet this request. | Approved | Pass |
Action details
|
Not available
|
|
1051-18
| A | | | Communication | Subject: Request from Sandra Segura Gutierrez to settle balance of loan. | Approved | Pass |
Action details
|
Not available
|
|
1059-18
| A | | | Communication | Subject: Request from Randy Lockhart of 2114 St. Clair Street for a loan increase. | Approved | |
Action details
|
Not available
|