LE PETIT ELEPHANT SIDEWALK LOAN DEAL POINTS
1. Parties to Loan Agreement (Legal Counsel):
City: City of Napa ("City")
Legal Counsel - City Attorney/ BBK
LPDC: Le Petit Elephant (“LPE”)
Legal Counsel - ________________ [TBD]
2. Site Description
Street 15 Chapel Hill Drive, Napa CA
[APN: 006-162-001]
3. Proposed Uses of Site/Improvements:
The City of Napa has approved a use permit for a day care center for up to 250 children. LPE will be renovating an existing church facility into multiple classrooms. Sidewalks will be installed as required by the Use Permit. Sidewalks will be installed by September 1, 2027.
4. Required Approvals/Status:
City: City Council approval of Loan Agreement/ AB 562 [TBD] Building Permit
Use Covenant for Childcare
Impact Fees
LPE: Retain Engineering Firm
5. Commitments of Parties/ Responsibilities:
City: - Loan $250,000
- Terms: No interest for 5 years
5-year Balloon payment from date of loan
Subordinated to all other loans on property.
- AB 562 Report
LPE - Satisfaction of Items in No. 4
6. Other Sources of Funding
- ARPA County Loan [Approved and funded]
- SBA Loan [Approved and funded]
- Other [TBD]
7. Other Issues:
- Prevailing Wage [Required by other loans]
8. Timing for Approval of Approvals and Agreement
- City Council authorization for loan execution April 7, 2026
9. Contingencies to Closing
Satisfaction of Items in No. 4
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ATTACHMENT 1
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