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Town of Chapel Hill Executive Summary |
Meeting Date: 04-15-2009 AGENDA #8 |
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 year to February 28, 2010.
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