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,..,u q �y q�"' sM' <br /> wck <br /> pifErr <br /> 'ROJECT TITLE: I <br /> ,ubordination Agreement for 10/27/10 Briefing COUNCIL BILL# <br /> the Assistance League of Proposed Action Originating Department Planning& <br /> Everett to refinance current Comm Dev. <br /> loan Consent Contact Person Dave Koenig <br /> Action Phone Number 257-8736 <br /> First Reading FOR AGENDA OF 10/27, 11/3/10 <br /> Second Reading <br /> Third Reading <br /> Public Hearing <br /> Budget Advisory Initialed by: <br /> Department Head <br /> CAA <br /> Council President —t—)T <br /> Location Preceding Action Attachments Department(s)Approval <br /> 5107 Evergreen Way Approval of funding by Legal and Planning <br /> City Council <br /> Amount Budgeted -0- <br /> • Expenditure Required -0- Account Number(s): <br /> Budget Remaining -0- <br /> Additional Required -0- <br /> DETAILED SUMMARY STATEMENT: <br /> The City Council approved Community Development Block Grant funds to be used for the Everett <br /> Assistance League to purchase property for the new Operation School Bell Program on September 19, 2001. <br /> By approving this action, Council authorizes the Mayor to sign the subordination agreement allowing <br /> Assistance League to refinance existing mortgage. <br /> • RECOMMENDATION (Exact action requested of Council): Authorize the Mayor to sign the <br /> Subordination Agreement substantially in the form provided for the.Everett Assistance League to refinance <br /> existing mortgage and to sign necessary documents, as approved by the City Attorney's Office,to implement <br /> the Agreement 1 <br />