File #: 18-226    Version: 1 Name: Res. No. 18-20 Apache Junction Villas Loan - LIHTC Program
Type: Consent Agenda Status: Consent Agenda
File created: 5/1/2018 In control: City Council Meeting
On agenda: 5/15/2018 Final action:
Title: Consideration 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: Larry Kirch
Attachments: 1. Council Memo Loan Agreement Apahce 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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Consideration 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.