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A motion was made by Vice Chairperson Casey, seconded by Commissioner Harris, <br />recommending that City Council approve the sale of abelow-market home to <br />HOUSE, Inc., for the purpose of providing additional housing units for <br />developmentally disabled adults, and approve a loan in the amount of $195,000 <br />from City HOME funds to assist with the purchase. The commission does not <br />recommend that a loan through the City's Down Payment Assistance (DPA) <br />program also be considered. The motion was approved unanimously. <br />Chairperson Stark confirmed with staff that this recommendation would not be presented <br />to City Council until either a December 2008, or January 2009 meeting, and whether this <br />fact would impact the schedule for the sales transaction. He also questioned whether a <br />Regulatory Agreement would be put in place with the Promissory Note and if <br />information regarding this could be provided to the Commission. Mr. Erickson <br />responded that the item would likely be reviewed by the City Council in mid-December <br />and agreed to forward a copy of the final documents to the Commission for reference. <br />Page-3- <br />