Committee approves 0% deferred loan to MTZ Charitable Organization for Family Life Center
The committee unanimously approved a Community Facilities Loan Program loan to MTZ Charitable Organization for construction of the Family Life Center at 2019 Fisher Street; staff described the loan as a long‑term deferred, 0% interest loan repayable upon sale or change of use.
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The finance committee moved and recorded unanimous support for Legistar 94609, a Community Facilities Loan Program loan to MTZ Charitable Organization Inc. to finance construction of the Family Life Center at 2019 Fisher Street. Director O'Keefe told the committee the program makes funds available "in the form of loans. They are long term deferred loans, 0% interest." He clarified repayment is triggered only by sale or change of use of the property.
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