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Bolivar Housing Authority outlines barriers, funding options for new affordable housing
Summary
Bolivar Housing Authority representative described barriers to tax-credit projects, existing funds the authority holds, and potential local partnerships; council did not vote on a program at the meeting.
Mike Miller, a representative of the Bolivar Housing Authority, told the Bolivar City Council that the housing authority has limited options for developing new affordable housing and described funding streams and partnerships the authority is pursuing.
“Bolivar Housing Authority, as a public housing entity, can do nothing with the money that we get from HUD except use it on the buildings that we have now,” Miller said, describing federal program limits. He told the council the authority holds a modest local account established with a city grant and additional settlement money that together total roughly the mid-five-figure range; the funds are earmarked and would revert to…
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