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Clifton Heights council adopts cooperation agreement to close out RACP-funded Hillside project
Summary
The borough council unanimously approved a cooperation agreement with the Redevelopment Authority and R2K to enable state Redevelopment Assistance Capital Program (RACP) funds to be routed for reimbursement and closeout of the Hillside project.
Clifton Heights Borough Council voted unanimously to adopt a cooperation agreement that will allow state Redevelopment Assistance Capital Program (RACP) funds to flow through the Redevelopment Authority and be distributed to both the original borrower and R2K partners, facilitating final reimbursement and project closeout.
The agreement matters because R2K is seeking reimbursement of funds it advanced and the state grant involves a substantial matching requirement, council solicitor said; approval clears an…
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