title
Approve Loan Agreement with Las Haciendas Housing Associates, LP for a 77 Unit Affordable Housing Project
recommendation
That the City Council approve a resolution entitled:
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMECULA, ACTING IN ITS CAPACITY AS THE HOUSING SUCCESSOR TO THE FORMER TEMECULA REDEVELOPMENT AGENCY (AND, WITH RESPECT TO A LOAN OF CITY FEES, ALSO IN ITS CAPACITY AS THE CITY) APPROVING A LOAN AGREEMENT WITH LAS HACIENDAS HOUSING ASSOCIATES, L.P. FOR THE “LAS HACIENDAS” 77 UNIT LOW INCOME AFFORDABLE MULTI-FAMILY (APARTMENT) PROJECT AT 28715 LAS HACIENDAS STREET AND 28772 CALLE CORTEZ, AND THE TAKING OF RELATED ACTIONS, AND MAKING A FINDING OF EXEMPTION UNDER CALIFORNIA ENVIRONMENTAL QUALITY ACT SECTION 15182