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Town of Chapel Hill Executive Summary |
Meeting Date: 03-09-2009 AGENDA #4a |
Title of Agenda Item: Response to Request from Habitat for Humanity Regarding Extension of Loan Terms
Background: The attached staff memorandum provides information about an amendment to a Performance Agreement with Habitat for Humanity to extend the terms of a loan for the acquisition of property on Sunrise Road.
Fiscal Note: Approval of extension of the repayment of this loan would mean that funds are not available for other affordable housing projects.
Staff Recommendation: That the Council adopt the attached resolution authorizing an amendment to the terms of the Performance Agreement to extend the repayment deadline for an additional two years to February 28, 2011.
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