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City committee discusses sale of city lots for 71-unit senior housing on Lancashire Road
Summary
The committee reviewed a first reading of an ordinance to sell two city-owned parking parcels and convey site control to National Church Residences for a proposed 71-unit senior housing development; sale terms, parking replacement and tax and funding conditions were discussed.
Cleveland Heights City Council committee members on Feb. 3 reviewed a first reading of an ordinance to authorize the mayor to execute a real estate purchase agreement for about 1.049 acres on Lancashire Road for a proposed 71-unit senior housing project by National Church Residences.
The proposed project would acquire two city-owned parcels adjacent to the vacant Unitarian church site and construct a four-story building with ground-floor community space. The developer will seek Low-Income Housing Tax Credits (LIHTC) and intends to serve seniors with rents tied to area median income at 30%–80% AMI.
City staff described sale terms discussed in principle: a sale price of $500,000 for the two city parking lots, with $306,000 held in escrow until completion of agreed parking improvements (including 20 on-site spaces and roughly 28 angled curbside spaces). Staff said the escrowed amount approximates…
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