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Title:
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Modifies the loan to Sable Ridge Development to: 1) extend its maturity date three years to 1-1-17; 2) provide additional security in the form of a deed of trust on a property located at 15255 E. 40th Ave.; and 3) secure a forward commitment to leave not less than $1 million in the 4203 N. Chambers site for its redevelopment as an affordable apartment community (GE04001). (SAFETY & WELL-BEING) Modifies the loan to Sable Ridge Development to: 1) extend its maturity date three years to 1-1-17; 2) provide additional security in the form of a deed of trust on a property located at 15255 E. 40th Ave.; and 3) secure a forward commitment to leave not less than $1 million in the 4203 N. Chambers site for its redevelopment as an affordable apartment community (GE04001). The last regularly scheduled Council meeting within the 30-day review period is on 12-1-14. The Committee approved filing this bill by consent on 10-30-14.
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