Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Affordable Housing Finance topic
No spam. Unsubscribe anytime.
HRA approves modification and forgiveness for Jackson Street Village home loan
Summary
The authority approved modification of a 2002 home loan to Saint Paul Family Project Limited Partnership for Jackson Street Village at 1497 Jackson Street and forgiveness of accrued interest; staff recommended approval and the resolution passed 6–0.
The St. Paul Housing & Redevelopment Authority on the same agenda approved a resolution to modify a 2002 home loan to Saint Paul Family Project Limited Partnership, the owner of Jackson Street Village at 1497 Jackson Street, and to forgive accrued interest on the loan.
Staff told the authority the matter had been presented at a prior staff report and recommended approval. Commissioner Nacre moved the resolution; the authority adopted the measure by voice vote with six in favor and zero opposed.
Staff did not provide additional financing terms in the public discussion at the meeting beyond the motion and the recommendation; the written staff report and the materials previously circulated to commissioners contain the contract details and loan modification language.
What happens next: the resolution was adopted by the HRA and will be executed according to the terms in the staff report and contract documents previously provided to board members.
