Quote:
Originally Posted by sugit
Drama continues....
(Redevelopment Agency) Extension of Loan Commitment for the Aura Project (Continued from 3-13-07; 3-20-07, 3-27-07) [To Be Delivered]
Location: 601 Capitol Mall, Central Business District (District 1)
Recommendation: Adopt a Redevelopment Agency Resolution extending the period of negotiations with Aura project for 45 days, expiring on May 24, 2007 to develop the terms of a maximum $10,000,000 market rate loan which may be incorporated into an Owner Participation Agreement for the Aura condominium project. Contact: Leslie Fritzsche, Downtown Development Manager, (916) 808-5450, Economic Development Department.
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I wonder how this is going to work... I thought AURA needed to break ground
in April to deliver the tower on time to it's buyers that have deposits down.
I believe they have 22 months to complete the tower starting next month.
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