How long will it take to obtain a response to a loan request?
The recommendation of the Affordable Housing Loan Committee will be forwarded to City Council as soon as possible, in a regularly scheduled meeting. Applicants can expect to hear the recommendation of the Affordable Housing Loan Committee for their project in approximately 60 days from the submittal date of a complete Application. City Council provides the final response to City loan requests. If a project is found to be acceptable, a Conditional Funding Commitment would be provided to the developers until all project entitlements have been received. When all entitlements have been received, City Council will review proposed loan documents in order to provide the Funding Commitment.
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