File #: 18-225    Version: 1 Name: Res. No. 18-20 Apache Junction Villas Loan - LIHTC
Type: Discussion/Presentation Status: Agenda Items
File created: 5/1/2018 In control: City Council Work Session
On agenda: 5/14/2018 Final action:
Title: Presentation and discussion of proposed Resolution No. 18-20, authorizing the city manager to execute a loan agreement with Apache Junction Villas, LLC, regarding the 52 unit low income housing tax credit townhome project at the southeast corner of San Marcos Drive and Tepee Street. This loan agreement includes a promissory note and related documents which provide a zero interest loan of $34,000 to Apache Junction Villas, LLC.
Sponsors: Joel Stern
Attachments: 1. Council Memo Loan Agreement Apache Junction Villas, 2. Resolution No 18-20 Adams Construction Apache Junction Townhomes LIHTC Loan (003), 3. Loan Agreement_ Apache Junction, 4. US BANK - APACHE JUNCTION - Subordination Agreement (City of Apache Junc..., 5. US BANK - APACHE JUNCTION - Tri-Party Agreement Re Permanent Financing, 6. E-mail from Adams Construction, 7. AJ City Letter AND Cashier Check
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Presentation and discussion of proposed Resolution No. 18-20, authorizing the city manager to execute a loan agreement with Apache Junction Villas, LLC, regarding the 52 unit low income housing tax credit townhome project at the southeast corner of San Marcos Drive and Tepee Street.  This loan agreement includes a promissory note and related documents which provide a zero interest loan of $34,000 to Apache Junction Villas, LLC.