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File #: 16-3076   
Type: Consent Item Status: Agenda Ready
In control: Board of Commissioners
On agenda: 11/16/2020 Final action:
Title: Subordination and Amended Terms of an Affordable Housing Loan for The Sussex in Raleigh, NC
Attachments: 1. Item Summary, 2. Site Map, 3. Commitment Letter, 4. DRAFT Subordination Agreement

Title

Subordination and Amended Terms of an Affordable Housing Loan for The Sussex in Raleigh, NC

Recommended Action

That the Board of Commissioners approves a subordination request and amendment to the loan terms from an amortizing to cash flow repayment schedule for The Sussex, an affordable rental development to be located in Raleigh, NC, subject to terms and conditions acceptable to the County Attorney.