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City authorizes KHRC grant agreement for moderate-income housing conversion at 124 S. Main
Summary
The City authorized the manager to sign a Kansas Housing Resources Corporation moderate-income housing grant for a Frontier Development Group project to convert the upper 3½ stories of 124 South Main into 13 income-restricted units; the developer anticipates approximately $3.2 million total project cost and has pursued multiple funding sources.
The El Dorado City Commission authorized the city manager on July 7 to execute a moderate-income housing (MIH) grant agreement with the Kansas Housing Resources Corporation (KHRC) for redevelopment of 124 South Main Street.
City staff described the proposal from Frontier Development Group to renovate the building’s upper three and a half stories into 13 income-restricted…
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