1079-2024
To authorize the appropriation and expenditure of up to $1,250,000.00 of HOME Investment Partnerships Program (HOME) entitlement grants ($756,459.62 from the 2022 grant and $9,057.62 from the entitlement portion of the 2023 grant and $484,482.76 of program income from the 2023 grant) from the U.S. Department of Housing and Urban Development and to authorize the Director of the Department of Development to execute a commitment letter and loan agreement that authorizes the city to act as a lender and have a promissory note, mortgage, and restrictive convent executed for this project with Elevate 340 LLC., for the Elevate 340 project. ($1,250,000.00).
What this record is
- Held by
- Elevate 340 LLC
- Amount
- $1.25M
- Runs until
- no end date published in this record
- Type
- contract
Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- Housing, Homelessness, & Building Committee
- Requested by
- Dev Drafter
- Introduced
- April 8, 2024
- On agenda
- May 6, 2024
- Passed
- May 9, 2024