City of Madison - Meeting of COMMUNITY DEVELOPMENT BLOCK GRANT COMMITTEE on 5/7/2009 at 5:00 PM

14606

Sun, 08 Feb 2026 16:20:28 GMT

File #: 14606
Ver.: 1
Agenda #:
Type: Resolution
Title: Approve satisfying six existing mortgages and promissory notes in the amount of $127,956.50 that represent CDBG Office financed improvements at 101 E. Mifflin, create a new mortgage and promissory note for a combined $377,956.50 to reflect the value of the old notes and the new $250,000 loan approved by the CDBG Commission on 1/6/2009; and approve a waiver of the 2009-10 Program Funding Framework to reflect no shared appreciation on the new note.
Action: Refer
Result: Pass

14518

Sun, 08 Feb 2026 16:20:30 GMT

File #: 14518
Ver.: 1
Agenda #:
Type: Resolution
Title: Approve Porchlight’s request for $234,255 in Home Match funds for 6 units in the form of a deferred loan secured by a mortgage, promissory note and Land Use Restriction Agreement (LURA) with a 15-year affordability requirement; authorize the Mayor and City Clerk to sign any agreements to effect such a change; agree to waive the CDBG Office 2009-2010 Program Funding Framework per unit limit and the loan-to-value ratio; and approve a 15-year forgivable loan with Porchlight for the outstanding CDBG Office investment $214,590. The total CDBG Office investment in this property will be $448,845.
Action:
Result:

14516

Sun, 08 Feb 2026 16:20:30 GMT

File #: 14516
Ver.: 1
Agenda #:
Type: Resolution
Title: Approve Porchlight’s request for $239,255 in Home Match funds for 7 units in the form of a deferred loan secured by a mortgage, promissory note and Land Use Restriction Agreement (LURA) with a 15-year affordability requirement; authorize the Mayor and City Clerk to sign any agreements to effect such a change; agree to waive the CDBG Office 2009-2010 Program Funding Framework per unit limit and the loan-to-value ratio; and approve a 15-year forgivable loan with Porchlight for the outstanding CDBG Office investment $200,200. The combined CDBG Office investment in the property will be $439,455.
Action:
Result: