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Kalamazoo City Commission approves $1 million ARPA loan amendment for Legacy Senior Housing at 730 N. Burdick St.
Summary
The commission voted 5-0 March 31 to amend a previously approved $1,000,000 Treasury SLFRF (ARPA) loan to support construction of the Legacy Senior Housing development; closing is scheduled for April 7, 2025.
The Kalamazoo City Commission on March 31 approved an amendment to a previously authorized $1,000,000 Treasury SLFRF (ARPA) loan to Zion Place 4 Limited Dividend Housing Association Limited Partnership to support construction of Legacy Senior Housing at 730 North Burdick Street.
Sheryl Parsons, Community Development Manager, told the commission the special meeting was called because the project closing is scheduled for April 7 and delaying approval would push that closing. Parsons said the amendment changes the project schedule: the primary mortgage closing moved to April 2025, construction will begin in April 2025, the construction period is expected to run into December…
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