Authorization to execute revised loan documents for Bell Street 2 L.P. housing project

A Resolution authorizing the Mayor to execute a revised Agreement and other associated revised loan documents with Bell Street 2 L.P. to incorporate revisions caused by the project's delayed closing, recently requested modifications, and a new development schedule, with no change to the awarded amount, which is not to exceed $1,500,000.00 from the Affordable Rental Development Fund, and no change to the number of units to be developed, which is 50 permanent supportive housing units for very low income seniors, to be located at 245 S. Bell Street.(Requested by Housing and Neighborhood Development Department)

Source: official minutes (PDF) for January 23, 2024.