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<br />NOTE 3 - LoANS RECEIVABLE (CONTINUED) <br /> <br />D. <br /> <br />Loans with Non-profits and For Profit Organizations <br /> <br />The City and Redevelopment Agency have loaned $500,000 to MP Redwood Court Associates and <br />$650,000 to Hallmark Apartments LLP. <br /> <br />E. <br /> <br />Housing RehabJ1itation Loans <br /> <br />The City and Redevelopment Agency have outstanding loans for housing rehabilitation in the amount of <br />$2,251,777. <br /> <br />F. <br /> <br />City Attorney Housing Assistance Loan <br /> <br />In 2003/04 the City made a housing assistance loan to the City Attorney. The outstanding loan balance at <br />June 30, 2005 was $217,694. Additional details of this loan agreement are outlined in Note 18. <br /> <br />G. <br /> <br />Shores ChiJdcare Loan <br /> <br />The City entered into an agreement with Shores Childcare, LLC whereby $3,200,000 was loaned to <br />Shores Childcare, LLC for construction of a childcare facility on city-owned land in the Redwood Shores <br />area. The term of the loan is 20 years maturing January 2023, with interest payable quarterly and <br />calculated based on the quarterly rate of the State of California Local Agency Investment Fund. The <br />outstanding balance of the loan at June 30, 2005 was $2,908,732. <br /> <br />H. <br /> <br />Parking Fund Loan <br /> <br />The capital outlay fund has a loan receivable in the amount of $1,300,000 from the parking fund. <br />Additional details of this loan agreement are outlined in Note 7. <br /> <br />40 <br />