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Committee clears amendment to Warner & Swayze redevelopment, pares ERA2 acquisition loan to $2.9 million
Summary
The committee approved an amendment to earlier authorization for the Warner & Swayze adaptive‑reuse project, reducing Emergency Rental Assistance (ERA2) acquisition funds to $2.9 million, changing the project unit count to 112, and separating $450,000 in HOME funds for later action.
The Community Development and Housing Committee on June 2 approved an amendment to prior council authorization for the Warner & Swayze redevelopment in Cleveland, changing the funding mix and unit count for the historic adaptive reuse of the former Warner & Swayze manufacturing plant.
Sarah Parks Jackson of the Department of Housing and Community Development told the committee the amendment responds to new U.S. Treasury guidance that requires Emergency Rental Assistance (ERA2) funds to be committed to specific project activities before the ERA2 expiration. “These funds actually expire September 30 and we have to have funding committed to a project by September 30,” Parks Jackson…
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