Laserfiche WebLink
61 <br />ctCd~tr. nli n2~ ~~;~- <br />~~~~~c~~~~ ~~c~~r~~v use oNLV: <br />APPRC7VFD <br />L7 As Recammended <br />® As Amended <br />CO~V`~INEJ~C7 ~'O <br />p <br />62:~,,~PF....~-~. <br />EX~CIt~'IV~ ~l~TCT'~1~ <br />~ ~~~I <br />Adopt a resolution approving a supplemental indenture of trust, an <br />amendmexa.t to loan agreement and an amendment to regulatory agreement and <br />declaration of restrictive covenants, an intercreditar agreement and <br />authorizing the execution and delivery thereof, and other agreements in <br />connection therewith, and authorizing and directing the execution and <br />delivery of documents and actions taken in connection therewith, all with <br />respect to the Harbor Pointe Apartments. <br />REDEVELOPMENT AND HOUSING COMMTSSTON RECOMMENDATION <br />Recommend that the Housing Authority: <br />Adopt a resolution approving a supplemental indenture of trust, an <br />amendment to loan agreement and an amendment to regulatory agreement and <br />declaration of restrictive covenants, an intercreditor agreement and <br />authorizing the execution and delivery thereof, and other agreements in <br />connection therewith, and authorizing and directing the execution and <br />delivery of documents and actions taken in connection therewith, all with <br />respect to the Harbor Pointe Apartments by a vote of 6:0 (Bustamante and <br />Simons absent). <br />DISCUSSION <br />1n December 1995 the Housing Authority issued refunding tax exempt bonds <br />to provide permanent refinancing for Harbor Pointe Apartments located at <br />1500 N. Harbor Blvd. The project consists of 130 ane- and two-bedroom <br />rental units, 20 percent of which have been set aside for low/moderate- <br />income tenants. The tax exempt band issue was for a total of $5,300,000 <br />and structured with a variable interest rate. <br />at;,:, <br />