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The Redevelopment Authority approved a $720,000 Affordable Housing Development Fund loan, subject to staff-recommended conditions, for a proposed 36-unit residential development on Meadow Lane. The vote was 5-0, with one abstention and one member absent; the Authority also unanimously recommended adoption of a Real Estate Purchasing Policy by the Common Council.
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The approved loan would support a proposed 36-unit housing development on a vacant Meadow Lane parcel between Silvernail Road and Marshview Street. The loan remains subject to conditions recommended by staff. The Authority also recommended that the Common Council adopt rules for purchasing real estate.
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