Title:
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Consider recommendations regarding the Sumida Family L.P. Sumida Gardens HOME Loan Agreement, Second District, as follows:
a) Approve the final commitment of $630,000.00 in HOME funds for permanent financing costs associated with the Sumida Gardens rental project;
b) Approve and authorize the Chair to execute a Loan Agreement in the amount of $630,000.00 and a Regulatory Agreement for the Sumida Gardens project; and
c) Authorize the Director of Housing and Community Development to execute a Subordination Agreement at a future date, consistent with the conditions in Section 2.11 of the Loan Agreement.
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