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Carbondale Board OKs additional $100,000 for Mountain Valley mobile-home park purchase
Summary
Trustees approved a $1.1 million grant agreement with West Mountain Regional Housing Coalition to help finance a two-park preservation purchase; board members debated funding limits, deed-restriction enforcement and timing as the purchase nears an October closing.
The Town of Carbondale Board of Trustees voted 6-1 on Aug. 26 to authorize a $1,100,000 grant payment to the West Mountain Regional Housing Coalition to support the purchase and preservation of the Mountain Valley mobile-home park.
Town Manager Ryan told trustees the grant agreement before the board would “formalize the town’s commitment to provide funds” and that the motion on the table reflected the board’s prior conversation about committing $1,000,000. He said the broader financing picture for both parks now stands at roughly $14,000,000 raised toward an original $20,000,000 goal and that private lenders and the finance group are targeting an interim comfort level of $16,000,000 to get preferred rates for the transactions.
The trustees discussed whether Carbondale should add funds beyond the previously discussed $1,000,000. Trustee Colin moved the revised motion to authorize payment of $1,100,000; Trustee Chris seconded. Several trustees said…
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