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Council advances $500,000 to housing fund and approves notice of intent for up to $10M bonds for Newberg Village expansion
Summary
The council approved a $500,000 advance from existing housing fund balances to begin site work and authorized the required public notice of intent to issue up to $10 million in general obligation bonds to fund a proposed senior affordable housing expansion.
The Livonia City Council approved an advance of $500,000 from the Newberg and Silver Village fund balances to a new Newberg Village expansion operating fund to support predevelopment site work, site clearance, fencing, signage, early architectural fees and bond counsel costs. Housing commission staff said the advance will be repaid from future bond proceeds when the project financing is finalized.
Housing commiss…
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