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Developer explores CDBG funding for 94 Pleasant Street rehabilitation; staff flags income‑restriction and deed issues
5954040 · September 24, 2025
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Summary
Matthias Capital asked staff whether CDBG could help rehabilitate 94 Pleasant Street, a 3‑unit rooming house the company purchased; staff said the project might be eligible but must meet HLC per‑unit limits and 51% low/moderate‑income occupancy rules and noted potential deed/subordination restrictions.
City staff told the steering committee Sept. 23 that Matthias Capital approached the city about potential CDBG funding for rehabilitation of 94 Pleasant Street, a 3‑unit rooming house across from City Hall that the company recently purchased.
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