File #: 16-1249   
Type: Consent Item Status: Agenda Ready
In control: Housing & Community Revitalization
On agenda: 12/4/2017 Final action:
Title: Assumption of Multifamily Affordable Housing Loan
Attachments: 1. Courtyard Commons LP Loan Assumption.pdf, 2. July 1, 2001 Agenda Item.pdf, 3. Deed of Trust & Promissory Note.pdf, 4. Real Estate Purchase Agreement.pdf, 5. NCHFA Approval.pdf

Title

Assumption of Multifamily Affordable Housing Loan

Recommended Action

That the Board of Commissioners:

 

1.                     Approves the execution of the assignment & assumption agreement with the current loan balance to allow IPI Courtyard Commons Limited Partnership to assume the loan for property at 324 W. Jones Street, Fuquay Varina NC, subject to terms and conditions acceptable to the County Attorney; and

 

2.                     Authorizes the Chairman to execute required documents subject to terms and conditions acceptable to the County Attorney