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Council approves Shotwell Apartments street closure and municipal bond conduit for financing
Summary
Council adopted an ordinance abandoning part of Mechanical Drive for the Shotwell Apartments site and approved multifamily housing revenue bonds to finance the Shotwell project; council emphasized that the town acts as a conduit and bears no repayment obligation.
Clayton town council members voted Aug. 19 to permanently abandon a portion of Mechanical Drive and to authorize the issuance of multifamily housing revenue bonds to support the Shotwell Apartments project.
Street closure: Planning staff presented a request to permanently close about 0.81 acres of Mechanical Drive right‑of‑way adjacent to the Shotwell site. The closure was tied to a condominium/recombination and to an approved site plan for a 90‑unit multifamily project; staff said the right‑of‑way abandonment will allow a small parcel of the former cul‑de‑sac to be…
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