Title
(Redevelopment Agency Successor Agency/City Council) Agreements Related to Forgiveness of Loans to The Good Neighbors Club of Del Paso Heights, California
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FileID
File ID: 2025-00349
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Location
Location: 3700 Knightlinger St., District 2
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Recommendation
Recommendation: 1) Adopt a Redevelopment Agency Successor Agency (RASA) Motion authorizing the Interim City Manager or designee to execute the attached Assignment and Assumption Agreement on behalf of RASA, which will assign RASA loans totaling $426,000, which were made to The Good Neighbors Club of Del Paso Heights, California in 1989 and 1991, to the City of Sacramento; and 2) adopt a City Council Motion: a) allocating $10,000 from Del Paso Heights Redevelopment Bond funds (Fund 3809) for the City's payment of $10,000 to RASA for City assumption of the loans pursuant to the attached Assignment and Assumption Agreement; b) authorizing the Interim City Manager or designee to execute the attached Assignment and Assumption Agreement on behalf of the City; and c) authorizing the Interim City Manager or designee to execute the attached Agreement for Loan Forgiveness and Deed Restriction with The Good Neighbors Club of Del Paso Heights, California, forgiving the loans totaling $426,000.
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Contact
Contact: Leslie Fritzsche, Economic Investment Manager, (916) 808-5450, lfritzsche@cityofsacramento.org, Office of Innovation and Economic Development
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Presenter
Presenter: None
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Attachments
Attachments:
1-Description/Analysis
2-Assignment and Assumption Agreement
3-Agreement for Loan Forgiveness and Deed Restriction
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Description/Analysis
IssueDetail
Issue Detail: The Sacramento City Redevelopment Agency Successor Agency ("RASA") is responsible for winding down the obligations of the dissolved Redevelopment Agency of the City of Sacramento ("Agency") under the review of the Sacramento Countywide Oversight Board, the State Department of Finance ("DOF"), the State...
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