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Council refers $1.5M HUD Section 108 loan request for Malden River Works to finance committee
Summary
The council referred the mayor's request to borrow $1.5 million via HUD's Section 108 loan program to support the second construction phase of the Malden River Works project to the finance committee for review.
Councilor McDonald asked the Malden City Council to refer a mayoral request to seek a Section 108 loan of $1,500,000 from the U.S. Department of Housing and Urban Development to support phase two of the Malden River Works project.
A city memo read into the record said phase two would include construction of a boathouse in Malden River Works Park and a salt shed at the Department of Public Works yard. The memo estimated the phase will cost…
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