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Title:
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(CD 5) Approve Financial Actions in Support of Hughes House II Apartments Located at 1401 Etta Street as Part of the Choice Neighborhoods Implementation Grant for the Cavile Place/Historic Stop Six Area Consisting of (A) Authorizing (i and ii) Expenditure of $2,000,000.00 of HOME Investment Partnerships Program Grant Funds as a Non-Forgivable Loan to FW Hughes House II, LP, or an Affiliate, Which Loan May Convert to Forgivable on Specified Conditions being Met, and Execution of Related Contracts; (iii and iv) Expenditure of $450,000.00 of Urban Development Action Grant Miscellaneous Revenue as a Loan to Fort Worth Affordability Inc., and Execution of Related Contracts; (v) Acceptance of Assignment from Fort Worth Affordability Inc., of Contracts and Loan Documents for its Loan to FW Hughes House II, LP; (vi) Authorization of Assignment from Fort Worth Affordability Inc. to FW Hughes House II, LP. of Federal Grant Obligations; (vii and viii) Authorize Execution of Necessary Am...
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