At Tuesday’s special, limited RDA Board and Council Formal meetings:
- the Council held and closed a public hearing and discussed a resolution authorizing below-market seller-financing loan terms and a reduced purchase price to Downtown Partners, LLC, for development of affordable housing. The development would be a mixed-use affordable housing project located at approximately 320 East 400 South and 338 East 400 South. The development would include a variety of housing options and commercial spaces. Discussion centered on loan terms, obligations, repayment plans, and policy issues relating to housing grant applications in general. The Council will continue to discuss criteria to help determine which projects receive housing grants. The Council has requested more information from the Administration about grant requests currently underway and will hold policy discussions in the future.
- the Board and Council approved money to address space needs and office relocation for various City departments.