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Aurora Capital Development Corporation approves $10,000 line amendment for PJ Limes loan
Summary
The Aurora Capital Development Corporation approved an amended loan note for PJ Limes, LLC that adds a $10,000 line of credit, new guarantors and a revised repayment schedule; part of the second advance is contingent on a certificate of occupancy from the city health department.
The Aurora Capital Development Corporation on March 11 approved an amended loan note for PJ Limes, LLC that renews the existing loan balance, adds new guarantors and creates a $10,000 line of credit to be advanced in two parts.
A staff member told the board the amendment is intended to align the loan documents with Lake City Bank’s expectations and to provide flexibility in advancing the new funds. "We're very close to being ready to close on the PJ Limes, LLC loan," the staff…
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