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Concord Housing Development Corporation approves $350,000 working-capital loan application to CMAHT
Summary
The Concord Housing Development Corporation voted 5-0 on Jan. 6, 2026, to approve an application to the CMAHT for a $350,000, 0% interest working-capital loan (three-year term or until closing). The minutes note finalized buy-down program parameters and that the approval will be confirmed in a grant agreement; mover/second were not recorded.
The Concord Housing Development Corporation board voted 5-0 on Jan. 6, 2026, to approve an application to the CMAHT for a $350,000 working-capital loan, the corporation’s minutes show.
The board finalized parameters for its buy-down program and reviewed the funding request, which the minutes describe as a $350,000, 0% interest loan with a term of three years or until closing, whichever occurs first. The approval is to be confirmed in a grant agreement, the minutes state.
Meeting minutes list board members Ray Andrews, Julie McClure, Lee Smith, Ann Sussman and Dan Drazen among those present and also record other attendees including Liz Rust (RHSO), Kristen Guichard (RHSO), Keith Bergman (CMAHT), Rick Eifler (CHA) and Ed Larner (CHA, CPC). The minutes record the motion was "moved and seconded" and that the measure was "VOTED 5-0 through roll call vote." The roll call recorded in the minutes lists Mr Andrews, Mr Lowitt, Ms McClure, Mr. Smith and Ms Sussman as voting "Aye." The minutes do not identify who made or seconded the motion and do not explain the discrepancy that Mr. Lowitt appears in the roll call but was not listed in the earlier attendance line.
According to the minutes, the approved loan is a working-capital measure intended to support CHDC operations; the exact terms and the confirmation of the award are to be set out in a grant agreement, per the action recorded. The meeting was called to order at 8:01 a.m. and adjourned at 9:09 a.m.
The minutes do not reference any statutory authority, ordinance, or other legal citation for the loan; they record internal approval and the commitment to finalize the grant agreement.
