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Fort Collins URA approves revised loan term sheet to streamline draws for 302 Conifer middle‑income housing
Summary
The Fort Collins Urban Renewal Authority unanimously approved a revised loan term sheet that consolidates the construction draw process for a middle‑income housing project at 302 Conifer Street, designating First National Bank to manage draws while retaining third‑party review by loan administrator IDF.
The Fort Collins Urban Renewal Authority on Aug. 26 approved a revised loan term sheet to support the development of a middle‑income housing project proposed at 302 Conifer Street, authorizing the acting executive director to sign the updated terms.
Acting Executive Director Josh Burks told the authority the change was requested by the developer “to consolidate the draw process.” He said staff agreed the consolidation would be “more expedient” and that First National Bank would manage the draws. “IDF, our loan administrator that we've hired, will be…
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