Approve $3 million in loans to RHA Housing Corporation for affordable housing projects
In Plain English
The city will loan up to $3 million to RHA Housing Corporation to rehabilitate 2 affordable housing developments: Friendship Manor and Triangle Court. These loans support the federal Rental Assistance Demonstration program, which converts old public housing into modern affordable units. If approved, the city uses tax increment and federal HOME funds to finance the upgrades.
Auto-generated summary. Source: official agenda documents.
Votes
Motion · Official minutes
Approve consent calendar
7 aye · 0 nay
Related agenda records
Automatically matched by topic. Open an item to check its relevance and each motion’s outcome.
RHA Housing Corporation Loan Amendment
Loan documents with RHA Housing Corporation
Adopted Resolution No. 78-16, authorizing the city manager to execute amended loan documents and a new subordination agreement between the City and JP Morgan Chase Bank, N.A.
Acquisition of the Richmond Housing Authority (RHA) Administration Building
MOU with Community Housing Development Corporation