Department of Housing and Community Development. Department of Human Re- sources.. —Department of Licensing and Regulation.. —Department of Natural Re- sources.. —Department of Public Safe- ty and Correctional Serv- ices.. —
Department of Housing and Community Development. HOME Investments Partnerships Program/Multifamily Energy Efficiency and Housing Affordability Program
Department of Housing and Community Development. Neighborhood BusinessWorks
Department of Housing and Community Development. (cont’d)
Department of Housing and Community Development. Down Payment Settlement Expense Loan Program Recommendation: That the Board of Public Works approve release of the second lien deeds of trust to facilitate short sales on the properties and allow the Maryland Department of Housing and Community Development to take unsecured promissory notes for the Down Payment Settlement Expense Loan Program. The promissory notes will be for the amounts shown below.
Department of Housing and Community Development. (cont’d) Neighborhood BusinessWorks Project Description: (cont’d) My Thai restaurant has been a staple in Baltimore since 2006. While a number of unfortunate events have occurred since 2015, the owners have been able to restore their customer base by implementing changes to the business model. Rather than vacating the space altogether, they will be reducing the current “dine in” footprint of the restaurant. The improvements will enhance the take out, delivery and catering functions of the business. Other regional cuisines will be added to the menu. With changing economics and the popularity of social media, web based take-out and delivery service, the business will not require the same footprint. The adjustment in the business model will permit the business to retain 15 employees while continuing to offer exceptional service in the community. The Borrower is currently in discussions with the University of Maryland Medical Center and Xxxxx Xxxxxxx Hospital to provide “grab and go” food preparations made available at both medical centers. The Borrower is an existing NBW client and has been since 2012. The 0000 Xxxx Xxxxxx building is on the edge of the Harbor East and Little Italy neighborhoods. The business is located in a building known as the Holland Tack Factory and sits at the intersection of Bank Street and South Central Avenue. The Harbor East/Little Italy area is a vibrant mix of business and residential properties. The rejuvenation of many historic and architecturally significant buildings has enabled the community to attract interest and investment. The My Thai project will contribute to the continued economic revitalization of Harbor East community by remaining in its current location. By operating in the smaller space, the My Thai restaurant will retain 15 employees and will provide service to surrounding universities and professional offices within the community. Without NBW’s support, the project will not be completed and the property may be vacated. BOARD OF PUBLIC WORKS THIS ITEM WAS: APPROVED WITHOUT DISCUSSION DISAPPROVED DEFERRED WITHDRAWN WITH DISCUSSION Contacts: Xxxx Xxxxxxx 000-000-0000 xxxxxxx.xxxxxxx@xxxxxxxx.xxx Xxxx Xxxxxxxx 000-000-0000 xxxxxxx.xxxxxxxx@xxxxxxxx.xxx Xxxx Xxxxxxxx 000-000-0000 xxxx.xxxxxxxx@xxxxxxxx.xxx
Department of Housing and Community Development. Down Payment and Settlement Expense Loan Program Recommendation: That the Board of Public Works approve the release of the second lien deed of trust to facilitate short sales on properties and allow the Maryland Department of Housing and Community Development to take unsecured promissory notes for the Down Payment Settlement Expense Loan Program. The promissory notes will be for $5,000 and $3,500, respectively. Loan Authority: Down Payment and Settlement Expense Loan Program Housing and Community Development Article§§ 4-301 thru 4-309, Annotated Code of Maryland Original Loan/Current Balance Xxxxxxxx Xxxxx 0000 Xxxxxxxxx Xxxx, Xxxxxxx 00000 Xxxxxxx Xxxxxx $5,000 Xxxxx X. Xxxxx 0000 Xxxxxxxx Xxx. Baltimore 21206 Baltimore City $3,500 BOARD OF PUBLIC WORKS THIS ITEM WAS: APPROVED DISAPPROVED DEFERRED WITHDRAWN WITH DISCUSSION WITHOUT DISCUSSION Contact: Xxxxxxx Xxxxx 000-000-0000 xxxxxxx.xxxxx@xxxxxxxx.xxx
Department of Housing and Community Development. (cont’d) Neighborhood Business Works The Project is part of a multi-stage renovation of five historic industrial buildings and stables located on the former City water pump station site in Broadway East, complemented by an already completed ground-up building on the site used by City Seeds, a culinary social enterprise. The first two stages involved extensive sitework, renovation of one building and construction of the new building for City Seeds. It was funded through a $10.5 million New Markets Tax Credit project with significant state and city support, and was completed in 2018. Overall, the Pumphouse Project is a $27 million historic renovation. It is being executed in multiple stages. ACT (American Communities Trust) has sourced and expended $10.5 million into the $27 million project to date and includes approximately $2.5 million of New Markets Tax Credit equity and approximately $2 million of historic tax credits (state and federal). In addition, the State of Maryland has committed over $3.5 million to the project to date between DHCD and General Assembly Xxxx Xxxx awards (not including the $750,000 of debt contemplated in this transaction.) The proposed Phase 3 will be funded by DHCD as a $750,000 NBW loan (this request) a $750,000 grant from DHCD’s Neighborhood Revitalization division and a $1.4 million loan from the Neighborhood Impact Investment Fund (NIIF). Total funding for Phase 3 is $2.9 million. The current Phase 3 as proposed will provide construction jobs as well as 11 added jobs from Pitango and Xxxxxxxxx. Pitango operates 5 gelato and coffee shops and opened its first location in Fells Point in 2007. Xxxxxxxxx Construction founded in March 2007, is comprised of carpenters and craftsmen focusing on high quality residential renovations, will consolidate all operations at the Pumphouse to manufacture built-in cabinetry and woodworking products on site. More importantly, Phase 3 will maintain the momentum of the overall $27 million campus redevelopment. Upon full completion, the full campus will help create an estimated 340 permanent jobs over a seven year period. ACT estimates that nearly 80% of permanent jobs will be accessible to someone with less than a four-year degree. Without the proposed funding from DHCD and NIIF, construction on the project would be halted. BOARD OF PUBLIC WORKS THIS ITEM WAS: APPROVED DISAPPROVED DEFERRED WITHDRAWN WITH DISCUSSION WITHOUT DISCUSSION 13. RESOURCE SHARING AGREEMENT Contact: Xxxxxxx Xxxxx 000-000-00...
Department of Housing and Community Development a public agency of the State of California By: Dated: Xxxxxxx X. Xxxxxxx, Manager Transactions Unit BORROWER: Capitol Area Development Authority, a joint powers agency By: Dated: Xxxxx Xxxxxxxx Executive Director [This document must be acknowledged for recording purposes.] Termination of Original Regulatory Agreement Rev: 02/27/2015 Prep: 10/30/2015 Dev: Somerset Parkside Apartments Old Loan No.: 80-RHC-007
Department of Housing and Community Development. 5. Department of Human Resources;
