Official Web Site of the City of Phoenix

NOTICE OF RESULTS
PHOENIX COMMUNITY DEVELOPMENT AND INVESTMENT CORPORATION

Pursuant to A.R.S. Section 38-431.02, notice is hereby given to the members of the PHOENIX COMMUNITY DEVELOPMENT AND INVESTMENT CORPORATION and to the general public, that the PHOENIX COMMUNITY DEVELOPMENT AND INVESTMENT CORPORATION held a meeting, open to the public on November 10, 2008, at 10:00 a.m. located in East Conference Room, 20^th Floor, Phoenix City Hall, 200 W. Washington, Phoenix, Arizona. 

 

One or more board members will participate via teleconference.  Agenda items may be taken out of order.

 

The results of the meeting were as follows:

RESULTS
MADE	1.	Call to Order	Roberto Franco, Vice-Chairman
MADE	2.	Introduction of Members and Guests:	Roberto Franco, Vice-Chairman
DISCUSSED AND APPROVED	3.	Recommendation by Capmark Capital, Inc. that PCDIC as managing member of PDR, LLC:   (1) Approve the assignment, assumption, and modification of the obligations of SW Properties At Sky Harbor, L.L.C. under a note  in the original amount of $10,750,000, and associated loan documents (the "Loan"), and related transactions, including intermediate assignments to related entities, which will result in Phoenix Investors # 24, L.L.C. being substituted for SW Properties At Sky Harbor, L.L.C. as the borrower on the Loan and   (2) Authorize the President of PCDIC to execute all documents and take all other actions necessary or advisable to effectuate or implement the assignment, assumption, and modification of the Loan. Presentation by Craig Dale of Capmark Capital, Inc. This item is for information, discussion and action	Roberto Franco, Vice-Chairman
DISCUSSED AND APPROVED	4.	Future Board Meetings: The board will set the date, time and place for one or more future board meetings. This item is for information, discussion and action	Roberto Franco, Vice-Chairman
MADE	5.	Adjournment	Roberto Franco, Vice-Chairman

 

For further information, please call Kathya Hidalgo, Economic Development Specialist, Community and Economic Development Department at 602-262-5039.

 

Persons with a disability may request reasonable accommodation, such as a sign language interpreter.  For reasonable accommodations, call Mary Magewick at Voice/602-261-8013 or TTY/602-534-3476 as early as possible to coordinate needed arrangements.

 

November 7, 2008