Title
Loan Term Extension for Southeast Raleigh Promise Scattered-Site Rentals
Recommended Action
That the Board of Commissioners approves extending the term of a Wake County affordable housing development loan to Southeast Raleigh Promise from 30 to 75 years.
All funding commitments are subject to terms and conditions acceptable to the County Attorney. In addition, all awards are contingent upon the development receiving local approvals including site plan approval and all necessary permits from the local municipality. All awards are contingent upon the basic terms as identified in the project descriptions, including funding commitments from the financial partners as identified.