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SUMMARY OF CaIHFA HELP LOAN EARLY REPAYMENT PROGRAM <br /> HELP Loan / Maturity Date #1 (2003) #2 {20071 Total <br /> Nov 2013 Oct 2007 <br /> Current principal balance $95,000.00 $247,486.50 $342,486.50 <br /> Interest per diem $7.92 $24.07 $31.99 <br /> Interest thru 9/6/2013 $22,524.17 $46,267.74 $68,791.91 <br /> Discount thru 9/6/2013 $3,325.00 $43,310.14 $46,635.14 <br /> Total Payoff on 9/6/13 $114,199.17 $250,444.10 $364,643.27 <br /> In general, this is straightforward financial transaction that allows tie City to take <br /> advantage of CaIHFA's early repayment program. If the loans are repaid at maturity <br /> (November 2013 and October 2017, respectively) then the total repayment will be <br /> approximately $47,000 more than it would be if the City takes advantage of the early <br /> repayment program. <br /> Submitted by: Fiscal Review: Approve /by: <br /> Steven Bocian Emily agner Nelson Fialho <br /> Assistant City Manager Director of Finance City Manager <br /> Attachment: <br /> City's Down Payment Assistance Program Brochure <br /> Page 3 of 3 <br />