Title
Assumption of Multifamily Affordable Housing Loan for 907 Method Road, Raleigh
Recommendation Action:
That the Board of Commissioners:
1. Approves the execution of the assumption agreement with the current loan balance to allow Cornerstone Fund Two LLC to assume the loan for the property at 907 Method Road, Raleigh, NC from Family Promise of Wake County, Inc., subject to terms and conditions acceptable to the County Attorney; and
2. Authorizes the Chair to execute required documents subject to terms and conditions acceptable to the County Attorney.