| | | | | | | | 
Edina Housing and Redevelopment Authority
Established 1974 | CITY OF EDINA
HOUSING & REDEVELOPMENT AUTHORITY
4801 West 50th Street
Edina, MN 55424
www.edinamn.gov | |
|
| | | | | | | | | Date: | February 13, 2020
| Agenda Item #: VII.A. | To:
| Chair & Commissioners of the Edina HRA
| Item Type:
| | Report / Recommendation | From:
| Stephanie Hawkinson, Affordable Housing Development Manager
|
Item Activity: | | Subject: | Approving Loan Agreement with Edina Housing Foundation for the Purchase of 4040 W. 70th Street. | Action | |
|
| | | | | | | |
ACTION REQUESTED:
Approve the Loan Agreement, Note and Mortgage ("Loan Documents") between the HRA and Edina Housing Foundation for $3,650,000.
INTRODUCTION:
On December 12, 2019 the HRA approved a Term Sheet and directed staff to prepare final Loan Documents for a $3,650,000 loan to the Edina Housing Foundation for the acquisition of 4040 W. 70th St.
Please see attached Staff Report and Loan Documents. |
|
|