Title:
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RESOLUTION - BENNETT VALLEY APARTMENTS - MODIFICATION TO PRIOR FUNDING COMMITMENT TO ALLOW FUNDS TO BE USED FOR PRE-DEVELOPMENT AND/OR CONSTRUCTION RELATED COSTS
RECOMMENDATION: It is recommended by the Housing and Community Services Department that the Housing Authority, by resolution, modify a prior conditional commitment of loan funds in the amount of $5,800,000 to Bennett Valley Apartments, Freebird Development Company, LLC to allow funds to be utilized for project costs including predevelopment and/or construction-related costs.
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