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File #: 17-807HA    Version: 1 Name: Request from CSN to Extend Term of Loan in Principal Amount of $105,106 for E Street Program
Type: HA- Report Status: Agenda Ready
File created: 7/5/2017 In control: Housing Authority
On agenda: 7/11/2017 Final action: 7/11/2017
Title: REPORT - REQUEST FROM COMMUNITY SUPPORT NETWORK TO EXTEND THE TERM OF ITS HOUSING AUTHORITY LOAN IN THE PRINCIPAL AMOUNT OF $105,106 FOR E STREET PROGRAM - 201 SOUTH E STREET BACKGROUND: Community Support Network (CSN) is requesting an extension of the term of its loan from the Housing Authority of the City of Santa Rosa (Housing Authority) in the principal amount of $105,106 for CSN’s E Street Program located at 201 South E Street, a five-bedroom house in the Burbank Gardens neighborhood. E Street Program opened for operation in 1993 as a ten-bed, transitional housing facility serving mentally ill adults referred by the public mental health system. The Housing Authority approved funding for the loan in July 1994, to assist with acquisition of the property. Terms of the Housing Authority loan were three percent (3%) simple interest deferred for a 15-year term expiring in December 2009. In October 2009, the Housing Authority approved an extension of the loan term to April 2017. Th...
Sponsors: Housing and Community Services
Indexes: Exempt Project
Attachments: 1. Staff Report, 2. Attachment 1, 3. Attachment 2, 4. Resolution