Approve $200,000 loan to new Police Chief Magnus for housing

Police & Community SafetyPersonnel

In Plain English

The city's newly hired Police Chief Christopher Magnus needs financial help to buy a house in Richmond while selling his current home in Fargo. The city offers a $50,000 bridge loan for the Richmond purchase plus $150,000 secured by his Fargo property. If approved, the city becomes Magnus's lender until he completes both transactions.

Auto-generated summary. Source: official agenda documents.

Votes

Adopt Resolution No. 169-05

Moved by: Councilmember MarquezSeconded by: Councilmember Viramontes
Passed

7 to 0

McLaughlinAye
ButtAye
ThurmondAye
AndersonAye
RogersAye
ViramontesAye
MarquezAye