File #: 07-00325    Version: 1
Type: Agenda Item Status: Passed
File created: 3/23/2007 In control: BOARD OF SUPERVISORS
On agenda: 4/3/2007 Final action: 4/3/2007
Title: Approve and authorize the Chair to execute the Faulding Hotel Loan Forgiveness and Loan Amendment to forgive principal and interest incurred for a $100,000 at 4.5% simple interest on a 30 year residual receipts loan made to Faulding Hotel, Inc., a nonprofit controlled by Santa Barbara Community Housing Corporation in December 1994 and to extend the current affordability period for an additional sixty years.
Sponsors: HOUSING AND COMMUNITY DEVELOPMENT
Attachments: 1. Board Letter, 2. Loan Amendment
Title
Approve and authorize the Chair to execute the Faulding Hotel Loan Forgiveness and Loan Amendment to forgive principal and interest incurred for a $100,000 at 4.5% simple interest on a 30 year residual receipts loan made to Faulding Hotel, Inc., a nonprofit controlled by Santa Barbara Community Housing Corporation in December 1994 and to extend the current affordability period for an additional sixty years.
 
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