File #: 06-00758    Version: 1
Type: Agenda Item Status: Passed
File created: 7/31/2006 In control: BOARD OF SUPERVISORS
On agenda: 8/8/2006 Final action: 8/8/2006
Title: Consider recommendations regarding the Subordination of existing HOME loan for College Park Apartments, Fourth District, as follows: a) Approve the subordination of the County's existing $2,085,466 loan to the Montecito Bank and Trust loan for the College Park project; b) Approve an amendment to the existing County loan to correct the construction start date; and c) Authorize the Interim Director of Housing and Community Development to execute the subordination agreements.
Sponsors: HOUSING AND COMMUNITY DEVELOPMENT
Attachments: 1. Board Letter
Title
Consider recommendations regarding the Subordination of existing HOME loan for College Park Apartments, Fourth District, as follows:
 
a) Approve the subordination of the County's existing $2,085,466 loan to the Montecito Bank and Trust loan for the College Park project;
 
b) Approve an amendment to the existing County loan to correct the construction start date; and
 
c) Authorize the Interim Director of Housing and Community Development to execute the subordination agreements.
Body
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