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IURA authorizes property transfer/disposition for INHS 205 West State redevelopment project
Summary
IURA adopted a resolution to accept transfer of a city parcel (205 West MLK / West State) and to enter a disposition/development agreement with INHS to enable redevelopment of the site for a 56‑unit senior housing project; sale price will be set at fair market value by appraisal and proceeds are structured to return to the city net of IRA costs.
The IURA voted to accept transfer of a city parcel identified for redevelopment and to effectuate disposition and a development agreement with Neighborhood Housing Services (INHS) for the proposed senior housing project at 205 West (West State). The resolution authorizes the IURA to negotiate property terms, set the sale price based on appraisal (fair market value) and reimburse the IURA for…
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