Legislation Details

File #: 22-926    Version: 1 Name:
Type: Discussion/Action Item Status: Agenda Ready
File created: 7/16/2024 In control: City Council
On agenda: 7/23/2024 Final action:
Title: Proposal to Administer the Housing Successor Agency Housing Loan Program and Business Development Loan Program. RECOMMENDATION: Adopt a Resolution authorizing the City Manager to execute a $113,000 professional service agreement with RSG to develop and implement a plan to restructure the non-performing loans, including borrower negotiations and amending loan agreements.
Attachments: 1. Staff Report - Housing Successor Loan, 2. Attach 1 - Resolution, 3. Attach 2 - RSG Loan Program Administration Proposal

Title

Proposal to Administer the Housing Successor Agency Housing Loan Program and Business Development Loan Program.

RECOMMENDATION:

Adopt a Resolution authorizing the City Manager to execute a $113,000 professional service agreement with RSG to develop and implement a plan to restructure the non-performing loans, including borrower negotiations and amending loan agreements.