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City Council approves $1.4 million reimbursement to housing authority for Edge Phase 3
Summary
Loveland City Council voted to reimburse the Housing Authority roughly $1.4 million in previously‑paid fees so the Edge Phase 3 affordable housing project can increase its low‑income housing tax credit basis.
Loveland City Council approved on first reading an ordinance to reimburse the Housing Authority roughly $1,400,000 in previously paid fees for Edge Phase 3, the final phase of a three‑phase affordable housing development known as the Edge.
The reimbursement covers previously approved fee waivers that the Housing Authority paid up front so the dollar amount could be included in the project's tax‑credit basis and thereby increase investor equity in the development. Rod Wintzing, deputy city manager,…
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