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Albany commission backs $2 million land‑bank MOU to spur housing near city assets and medical district
Summary
The commission reviewed a revised memorandum of understanding to provide $2 million to the land bank for housing initiatives, with commissioners directing portions to the medical district and South Side projects; staff will revise the MOU language to reflect the agreed allocations.
The Albany City Commission discussed and moved to refine a memorandum of understanding on June 3 that would make $2 million available to the local land bank for housing initiatives near city‑owned assets and in the medical district.
City Attorney Michael Custer told commissioners the revised MOU responds to earlier requests that one portion of the funds be targeted to the medical district and the remainder be used near city properties and investments. "These are the changes that have been made to the new proposed MOU," Custer said…
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