Nature of Contract
The property located at 201-229 Eddy (Franciscan Towers) suffered extensive fire damage in April 2011 and is now undergoing a major rehab to bring it back to habitable condition. As part of the rehab, MOHCD has agreed to amend and restate prior loans that were secure against the poperty. The property will remain affordable housing.
Date Contract Approved
December 10, 2013
$3,400,000 amended and restated loan agreement.