File #: 08-00596    Version: 1
Type: Agenda Item Status: Passed
File created: 6/16/2008 In control: BOARD OF SUPERVISORS
On agenda: 6/24/2008 Final action: 6/24/2008
Title: Consider recommendations regarding the Ted Zenich Garden Apartments, Permanent Project Financing, Fifth District, as follows: a) Approve the additional allocation of $350,000 in HOME funds to Ted Zenich Limited Partnership, representing a final financial commitment in the aggregate amount of $l,806,188 towards permanent financing of the Ted Zenich Gardens affordable housing project; b) Approve and Authorize the Chair to execute a Revised and Restated Loan Agreement in the total amount of $1,806,188, for permanent financing of this project. c) Authorize the Director of Housing and Community to execute additional Subordination Agreements for this loan that are consistent with the new Loan Agreement.
Sponsors: HOUSING AND COMMUNITY DEVELOPMENT
Attachments: 1. Board Letter, 2. Attachments
Title
Consider recommendations regarding the Ted Zenich Garden Apartments, Permanent Project Financing, Fifth District, as follows:
 
a) Approve the additional allocation of $350,000 in HOME funds to Ted Zenich Limited Partnership, representing a final financial commitment in the aggregate amount of  $l,806,188 towards permanent financing of the Ted Zenich Gardens affordable housing project;
 
b) Approve and Authorize the Chair to execute a Revised and Restated Loan Agreement in the total amount of $1,806,188, for permanent financing of this project.
 
c) Authorize the Director of Housing and Community to execute additional Subordination Agreements for this loan that are consistent with the new Loan Agreement.
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