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Auburn council extends deferred housing-rehab loan for homeowner Conway; debate over repayment terms
Summary
Council approved restructuring a deferred, interest-free housing rehabilitation loan for a homeowner at 1137 Wrights Mill Road, extending deferred status for 10 years after debate over repayment assurances and whether federal CDBG funds are secure.
The Auburn City Council voted July 22 to restructure a long-standing deferred housing rehabilitation loan tied to a property at 1137 Wrights Mill Road, extending the loan's deferred status for 10 additional years while the homeowner's family indicated a willingness to make voluntary payments.
Council members removed the item from the Consent Agenda for discussion. The loan was originally a 20-year, zero-interest deferred mortgage funded with Community Development Block Grant (CDBG) dollars;…
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