Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Redevelopment agency approves fifth amendment to North Anchor DDA to facilitate hotel and housing financing
Summary
The Lake Oswego Redevelopment Agency Board approved a fifth amendment to the Downtown North Anchor DDA that converts a $749,000 final cash payment into a loan to facilitate acquisition and align investor commitments for the mixed hotel/multifamily project.
The Lake Oswego Redevelopment Agency (RDA) on Sept. 16 approved a fifth amendment to the Downtown North Anchor development agreement that changes a previously scheduled $749,000 cash payment into a loan to support property acquisition and the project’s financing structure.
Background and rationale Agency staff said the amendment reflects a financing approach in which an external capital investor will acquire the multifamily parcel and UDP (the developer)…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
