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Board approves ground lease with TVC Development for Trumbo affordable housing, inserts later agreement language for affordable covenants
Summary
The Monroe County School Board approved a ground lease with TVC Development Inc. (Trumbo Affordable Workforce Housing) and included revised language clarifying that a declaration of affordable restrictions will be agreed upon and inserted by the parties at a later date to assist the developer's financing.
The Monroe County School Board voted to approve a ground lease with TVC Development Incorporated for the Trumbo Affordable Workforce Housing project, with a narrow revision requested by the developer to assist its financing.
Board counsel explained that VESCOR (the developer referenced in the meeting) requested one additional line in Exhibit C to…
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