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Title:
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Planning - Amend certain Loan Documents with the agreement dated 2/28/25 with Lifting Up Westchester, Inc., in order to modify certain loan provisions, (as listed below) in connection with the construction of 14 affordable rental housing units that affirmatively further fair housing by Lifting Up Westchester, Inc. located at 98 Washington Avenue, in the Village of Pleasantville, in order to 1.) allow for the County, at its sole option, to forgive the repayment of the loan at the end of the thirty (30) year loan term; 2.) change the current interest calculation for the loan from 1% compounded annually to a simple annual interest calculation of 1%; 3.) allow for the establishment of a capital and operating account to assist with future capital and operating needs in an amount of $300,000 which represents the amount of County funds that were advanced at closing and held in escrow pending a determination of the construction costs of the Development, which funds are now anticipated to be re...
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