DEPARTMENT MAKING REQUEST
County Attorney
Title
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Amendment to County Loan for Affordable Housing Development - Verandas III
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REQUESTED MOTION/ACTION
recommendation
Recommended Action:
a) Approve the First Amendment Charlotte County Multi-Family Housing Development Agreement with the Verandas of Punta Gorda III, LLLP; and
b) Authorize the Chairman to sign the Amendment.
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budget
Budgeted Action:
No action needed.
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BACKGROUND (Why is this Action Necessary, and What Action will be accomplished)
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Background:
At the regular BoCC meeting on September 12, 2023, the Board approved loan documents for a County loan for development of the Verandas of Punta Gorda. The purpose of the Amendment is to clarify the agreed upon terms related to the distribution of funds by the County.
Provided for your review are the original Development Agreement and the First Amendment.
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