City of Apache Junction, Arizona - File #: 17-002

• File #: 17-002
• Version: 1
• Name: Apache Junction Villas LIHTC
• Type: Direction to Staff
• Status: Passed
• File created: 1/9/2017
• In control: City Council Meeting
• On agenda: 2/7/2017
• Title: Direction to staff authorizing the city manager to transmit a commitment letter to the Arizona Department of Housing (ADOH) in support of Adams Construction and Management Co., Inc., Low Income Housing Tax Credit (LIHTC) application for a 52 unit townhome project known as Apache Junction Villas and providing for a one-half of one percent cash flow loan (currently estimated between $30,000 to $50,000), as well as future consideration by the city council of a development agreement, loan agreement and promissory note (SE corner of Tepee Street and Plaza Drive).
• Sponsors: Larry Kirch

Date	Ver.	Action By	Action	Result
2/7/2017	1	City Council Meeting	directed	Pass

Title

Direction to staff authorizing the city manager to transmit a commitment letter to the Arizona Department of Housing (ADOH) in support of Adams Construction and Management Co., Inc., Low Income Housing Tax Credit (LIHTC) application for a 52 unit townhome project known as Apache Junction Villas and providing for a one-half of one percent cash flow loan (currently estimated between $30,000 to $50,000), as well as future consideration by the city council of a development agreement, loan agreement and promissory note (SE corner of Tepee Street and Plaza Drive).