FINANCIAL_SERVICESAMENDED

Ontario Amends Subordinate Loan for Senior Apartments

The Ontario Housing Authority is approving amendments to its $5,155,500 subordinate loan with Ontario Senior Housing Partners, L.P. for the City Center Senior Apartments. The action adjusts residual receipts payments, removes a purchase option, waives certain transfer repayment provisions, and extends affordability restrictions to a new 99-year term.

Status
AMENDED
Document date
July 21, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Ontario Senior Housing Partners Lp
Agency
City of Ontario · CA

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$5,155,500
Contract type
FINANCIAL_SERVICES
Contract term
55-year term (original subordinate loan); affordability restrictions extended to new 99-year term
Renewal
Original loan term was 55 years with 1% simple interest and 85% residual receipts; current action reduces residual receipts to 65%, removes the $1.00 purchase option, and extends affordability restrictions to a 99-year term. The waiver of the transfer repayment provision is limited to this ownership transfer transaction.
Document type
StaffReport
Source document
City of Ontario StaffReport Approval of Ownership Transfer and Amendments for City Center Senior Apartments 2026-07-21

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Ontario?

Ontario Senior Housing Partners Lp was awarded this financial services contract by City of Ontario, as recorded on July 21, 2026. The contract value is $5,155,500.

How much is the Ontario Senior Housing Partners Lp contract with City of Ontario worth?

The Ontario Senior Housing Partners Lp contract with City of Ontario is valued at $5,155,500, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a staffreport record.

Where was this contract approved?

This contract appears in City of Ontario StaffReport Approval of Ownership Transfer and Amendments for City Center Senior Apartments 2026-07-21 (StaffReport), dated July 21, 2026 from City of Ontario. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Ontario Senior Housing Partners Lp hold?

Ontario Senior Housing Partners Lp may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Ontario Senior Housing Partners Lp's profile

What is City of Ontario currently buying?

Explore City of Ontario's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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