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Commission authorizes $600,000 interest-free loan agreement for Washington Manor conversion

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Summary

The commission approved a resolution to authorize language enabling Virginia Housing and Redevelopment Authority to use a $600,000 interest-free loan over 20 years for Washington Manor’s conversion; the authority needs the paper trail to secure funds.

The Virginia Public Utilities commission on May 28 approved an agreement authorization that will allow the Virginia Housing and Redevelopment Authority to secure an interest-free loan of $600,000 for work at Washington Manor.

Greg, a utility staff member, explained that Virginia Housing and Redevelopment Authority owns Washington Manor and needed…

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