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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; and
b) Authorize the Interim Director of Housing and Community Development to execute the subordination agreements, consistent with the terms and conditions detailed in the Board letter dated October 10, 2006.
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