Item Coversheet
 

COVER SHEET

MEETING DATE
June 7, 2022



AGENDA ITEM

Consideration of a motion to adopt Resolution 1307 providing authority to the city manager to enter into and execute a contract for loan guarantee assistance with the U.S. Department of Housing and Urban Development for use in the development of affordable housing, and, associated with said contract, authorize the issuance of a Variable/Fixed Rate Note in the maximum commitment amount of $4,000,000, and authorizing the city manager to sign all other documents necessary to secure the loan guarantee assistance

PRIMARY STAFF CONTACT
Jay Sugnet/Senior Manager
REQUESTED ACTION OR MOTION LANGUAGE
Motion to adopt Resolution 1307 providing authority to the city manager to enter into and execute a contract for loan guarantee assistance with the U.S. Department of Housing and Urban Development for use in the development of affordable housing, and, associated with said contract, authorize the issuance of a Variable/Fixed Rate Note in the maximum commitment amount of $4,000,000, and authorizing the city manager to sign all other documents necessary to secure the loan guarantee assistance
ATTACHMENTS:
Description
Item 3B - Motion to Adopt Res 1307 to execute contract for loan with HUD