Requesting approval for loan extension of the Hidalgo County HOME loan between Edcouch Housing Development, L.P., a Texas Limited Partnership (“Borrower”) and Hidalgo County Texas, acting through its Urban County Program, a Texas governmental entity (“Lender”).

The Hidalgo County Urban County Program executed a Promissory Note with the Edcouch Housing Development, L.P. on November 26, 2007 in the amount of $150,000 to be used as a portion of construction costs for the multi-family housing development known as the Casa Mesina located in Edcouch Texas.  The terms of this note express that full re-payment of this loan is “due within one year of Borrower’s receipt of the last Certificate of Occupancy for the Apartment Complex”.  The last Certificate of Occupancy was received in March 2009 therefore final payment is due March 2010.  The Borrower is currently facing delays in the conversion of the current construction loan due to an approval for amendment to the initial tax credit and is therefore requesting an extension for re-payment to be extended to June 30, 2010.


UCP Contact:   Michelle Mendoza