Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council denies loan‑forgiveness request from Mary Erickson Community Housing, directs repayment demand
Summary
After staff urged denial, council voted 5–0 to deny Mary Erickson Community Housing’s request to forgive roughly $245,000 in loans (plus about $18,000 interest) and directed staff to demand repayment; the nonprofit offered deeper affordability in exchange for forgiveness, which council debated but ultimately declined.
The San Clemente City Council on May 12 denied a request from Mary Erickson Community Housing for forgiveness of outstanding city loans tied to three small affordable properties. Staff told the council the loans were structured as deferred-payment, interest-bearing obligations with an expectation of repayment at maturity; the total principal discussed at the meeting was about $245,000 plus approximately $18,000 in accrued interest.
Executive Director Susan McDivitt told council the nonprofit has operated the properties for…
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
