Allow Citibank priority over city's $500,000 loan for Nevin Apartments development
In Plain English
The city loaned $500,000 to help build the 271-unit Nevin Apartments project. Citibank provided an $85 million construction loan for the same project. If approved, the city agrees Citibank gets paid first if the developer defaults, protecting the larger loan that made the project possible.
Auto-generated summary. Source: official agenda documents.
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