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Authority details Bluestone Town Center, Commerce Village and Lineweaver project progress
Summary
Board updated on financing, permitting and scheduling for major projects including Bluestone Town Center (senior housing), Commerce Village and the Lineweaver project; some infrastructure costs rose and tax-credit deadlines drive schedules.
The Harrisonburg Housing Authority updated the board on several development projects, reporting progress on financing, permitting and schedule constraints driven by historic tax-credit deadlines and increased infrastructure cost estimates.
Executive Director Michael said the authority expects to close a roughly $2 million loan with a community development financial institution (named in the transcript as a Richmond-based lender) and that United Enterprise funding is expected to close in October; that closing is required before work on infrastructure and vertical construction can begin. He told the board the authority had signed loan documents and that enterprise funding will provide…
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