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Title:
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AN EMERGENCY ORDINANCE Authorizing the Director of Economic Development to enter into a forgivable Urban Development Action grant Repayments loan agreement with HOVR Holdings LLC, or its designee, and a non-forgivable EDA Title IX loan with HOVR Holdings LLC, or its designee, to provide economic development assistance to partially finance the acquisition and renovation of a vacant building located at 7000 Central Avenue, related hard and soft costs, and other associated costs necessary to redevelop the property, and for acquisition of machinery, equipment, furniture and fixtures at the project site.
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