The Mount Vernon Board of Education meeting on December 17, 2024, spotlighted a significant funding development for the 115 South McQuiston project. Board members clarified that the information listed on the district's website regarding the project's affordability was misleading. Contrary to the claim of "affordable end market rate" apartments, officials confirmed that there are no market rate units available. Instead, the project primarily offers units at 60% of the area median income, with a few at 90%.

In a notable turn of events, the developer revealed a funding gap of approximately $2.9 million for the project. To address this shortfall, they proposed a lump sum payment of $1 million to the school district, which would be provided upfront when construction begins. This financial commitment could play a crucial role in supporting local educational initiatives as the project moves forward.

The discussions surrounding the 115 South McQuiston project highlight the ongoing challenges and opportunities in balancing affordable housing development with community needs. As the project progresses, the board will continue to monitor its implications for both the school district and the broader Mount Vernon community.