title
Approve Subordination Agreement Required for a Refinancing/Permanent Loan for the Las Haciendas Project (Which Pays Off the Existing Construction Loan Coming Due) (At the Request of Subcommittee Members Kalfus and Schwank)
recommendation
That the City Council adopt a resolution entitled:
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMECULA APPROVING A SUBORDINATION AGREEMENT WITH NEWPOINT REAL ESTATE CAPITAL, LLC, FOR ITS LOAN TO LAS HACIENDAS HOUSING ASSOCIATES, L.P. TO REFINANCE AND PAY OFF ITS EXISTING CONSTRUCTION LOAN