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Council signals support for $1 million city loan to Casper Housing Authority to keep 45-unit building affordable
Summary
Councilors discussed a proposal for the city to lend the Casper Housing Authority $1 million at about 4.5% over 25 years so the authority can buy and preserve a 45-unit downtown property whose low-income housing tax credits have matured; staff and housing-authority leaders urged quick action to avoid an out-of-state sale.
City staff and the Casper Housing Authority asked the Casper City Council for direction on a $1 million loan to support the housing authority’s purchase of the Wyoming National Bank building, a 45-unit downtown affordable property whose low-income housing tax credits have matured.
Liz (city staff) described the timeline: the housing authority learned the property was being offered for sale while staff were at a national housing conference and quickly coordinated a local bid to preserve ownership and local management. Liz said the objective is preservation and maintenance of existing affordable housing stock in…
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