Ordinance No. 1537 2020

amending Ordinance No. 1186-2002, authorizing the City of Coatesville to enter into a commitment agreement to lend up to $500,000.00 to the Downtown Revival Limited Partnership for an Urban Renewal project subject to a promissory note and mortgage and security agreement and conditional assignment of leases and rents to the City providing for the repayment of same in forty (40) years, to authorize the City of Coatesville to enter an agreement to accept a lump sum payment of $250,000 to satisfy the Downtown Revival Limited Partnership’s debt obligation to the City of Coatesville due in 2042.