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Exhibit B <br />Proposed terms of future loan agreement <br />Loan amount: <br />$775,000 <br />Term: <br />Five years. <br />Interest rate: <br />3% <br />Use: <br />To be used for infrastructure such as site work, underground utilities, <br />sidewalks, street entrances and so on — all allowable under TLGC <br />Chapter 380. <br />Collateral: <br />Cash collateral from owner in a certificate of deposit to be held by the <br />City in its bank, in the amount of 100% of the loan amount, to be <br />deposited into an escrow account by the City. <br />Authority: <br />TLGC Chapter 380 - Cities have authority to make economic <br />development type loans for the purpose of development of <br />infrastructure. <br />Conditions: <br />All entitlements including rezoning, platting, permitting, all City <br />approvals, allocation of Federal Housing Tax Credits to Developer in <br />2013 and funding of owner's debt and equity to develop the project are <br />conditions precedent to funding the loan. <br />Timing: <br />Owner will request the loan be funded sometime after closing its debt <br />and equity for the project. Owner estimates this to be the summer of <br />2014. <br />Prepayment: <br />No prohibition against prepayment. While TDHCA requires a five <br />year term, Owner may prepay the loan and may do so. <br />