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Title:
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Amends a $1.7 million loan to St. Charles Holding Company, LLC in the amount of $1,700,000 by 1) assigning the loan to a new borrower, Morrison Road, LLLP, 2) assigning property to Morrison Road, LLLP, and 3) authorizes the Director of the Office of Economic Development to administer the loan for relocation costs associated with the former residents of the Belmont and Shady Nook trailer parks at 4325-4331 Morrison Road and 4404 Morrison Road, which will enable the redevelopment of the property with 197 affordable income-restricted rental units (2793-02).
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