Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Loan Agreement and acceptance of Promissory Note Purpose: To authorize the execution and delivery of a Note, Loan Agreement, Mortgage and related documents and certifications needed to establish deposit accounts with financial institutions and the United States Department of Housing and Urban Development (“HUD”) for funds awarded under the Section 108 Loan Guarantee Program for the purpose of funding a redevelopment project to be undertaken by 36-54 Rector, LLC. Entity Name: United States Department of Housing and Urban Development Entity Address: 451 7th Street S.W., Washington, DC 20410 Loan Amount: $2,500,000.00 Funding Source: United States Department of Housing and Urban Development Loan Term: Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a Additional Information: Application for loan funds authorized by Resolution 7R2-a (as) adopted on November 1, 2017.