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Type:
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Resolution
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Status:
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Consent Agenda
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On agenda:
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5/29/2025
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Final action:
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5/29/2025
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Title:
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Planning / County Executive/Ctywide Admin Svc - Amend a 4/3/25 Resolution to, inter alia, enter into a loan agreement and other loan documents with Qwest Towers, LLC., its successors and/or assigns, or any entity created to carry out the purposes of the proposed transaction, whereby the County will loan the Developer an amount not to exceed $13,412,811 in loan funds from the County Affordable Housing Investment Fund, also known as the County Housing Flex Fund Program, for the purpose of constructing 229 affordable rental units that will affirmatively further fair housing at 1, 7-11, 25, 29 and 33 North MacQuesten Parkway, Mount Vernon, New York, is amended in order to modify the length of the loan term to meet the requirements of the permanent lender, from thirty-three (33) years, including a three (3) year construction period, to thirty-eight (38) years, including a three (3) year construction period.
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Attachments:
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1. RESA111168.pdf
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title
Planning / County Executive/Ctywide Admin Svc - Amend a 4/3/25 Resolution to, inter alia, enter into a loan agreement and other loan documents with Qwest Towers, LLC., its successors and/or assigns, or any entity created to carry out the purposes of the proposed transaction, whereby the County will loan the Developer an amount not to exceed $13,412,811 in loan funds from the County Affordable Housing Investment Fund, also known as the County Housing Flex Fund Program, for the purpose of constructing 229 affordable rental units that will affirmatively further fair housing at 1, 7-11, 25, 29 and 33 North MacQuesten Parkway, Mount Vernon, New York, is amended in order to modify the length of the loan term to meet the requirements of the permanent lender, from thirty-three (33) years, including a three (3) year construction period, to thirty-eight (38) years, including a three (3) year construction period.
body
B. Lopez
C. Steers
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