City of Oakland - File #: 003216-2b

• File #: 003216-2b
• Version: 1
• Name: Eastmont Court Project- Affordable Housing Development Loan
• Type: ORA Resolution
• Status: Passed
• File created: 4/24/2003
• In control: Meeting of the Oakland City Council
• On agenda: 6/3/2003
• Final action: 6/3/2003
• Title: Subject: Eastmont Court Project- Affordable Housing Development Loan From: Community and Economic Development Agency Recommendation: Adopt an Agency Resolution amending Resolution No. 01-11 C.M.S. to extend the loan term from 30 years to 55 years, and to reduce the interest rate on a $361,000 Site Acquisition Loan from 6% to 3%; and authorizing consolidation of the existing $361,000 Site Acquisition Loan with an existing Affordable Housing Development Loan commitment for $1,066,000 to resources for Community Development, Inc. for the Eastmont Court Project located at 6850 Foothill Boulevard

Date	Ver.	Action By	Action	Result
6/3/2003	1	Meeting of the Oakland City Council	Adopted as Amended	Pass
5/20/2003	1	Meeting of the Oakland City Council	Rescheduled
5/15/2003	1	*Rules & Legislation Committee	Rescheduled
5/6/2003	1	Concurrent Meeting of the Oakland Redevelopment Agency / City Council	Continued

Title

Subject:       Eastmont Court Project- Affordable Housing Development Loan

From:            Community and Economic Development Agency

Recommendation:  Adopt an Agency Resolution amending Resolution No. 01-11 C.M.S. to extend the loan term from 30 years to 55 years, and to reduce the interest rate on a $361,000 Site Acquisition Loan from 6% to 3%; and authorizing consolidation of the existing $361,000 Site Acquisition Loan with an existing Affordable Housing  Development Loan commitment for $1,066,000 to resources for Community Development, Inc. for the Eastmont Court Project located at 6850 Foothill Boulevard

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