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File #: 17-0383    Version: 1 Name: Modify City Loans On E. C. Reems Gardens Apartments
Type: City Resolution Status: In Committee
File created: 11/14/2017 In control: Special Concurrent Meeting of the Oakland Redevelopment Successor Agency/City Council
On agenda: 12/18/2017 Final action:
Title: Subject: Modify City Loans On E. C. Reems Gardens Apartments From: Housing And Community Development Recommendation: Adopt A Resolution Authorizing The City To (1) Assign The City Loans And Deeds Of Trust Secured By The E.C. Reems Gardens Apartments Located At 2700 Alvingroom Court To Renaissance Housing Communities, LLC (Or Affiliate), (2) Consolidate And Modify The City Loans On The Property Into A Secured Deferred-Payment Loan At 3% Simple Interest For Fifty-Five Years, And (3) Modify And Extend The Term Of The Regulatory Agreement Encumbering The Property
Sponsors: Housing And Community Development Department
Attachments: 1. View Report

Title

Subject:                     Modify City Loans On E. C. Reems Gardens Apartments

From:                                          Housing And Community Development                     

Recommendation: Adopt A Resolution Authorizing The City To (1) Assign The City Loans And Deeds Of Trust Secured By The E.C. Reems Gardens Apartments Located At 2700 Alvingroom Court To Renaissance Housing Communities, LLC (Or Affiliate), (2) Consolidate And Modify The City Loans On The Property Into A Secured Deferred-Payment Loan At 3% Simple Interest For Fifty-Five Years, And (3) Modify And Extend The Term Of The Regulatory Agreement Encumbering The Property