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Middletown CDA finance committee backs $383,100 rehab bid and recommends city loan for 7 Genung Street
Summary
The Middletown Community Development Agency finance committee unanimously recommended awarding a $383,100 rehabilitation contract for 7 Genung Street and recommended borrowing the contract amount from the City of Middletown to fund the work; the agency reported demo costs, an appraisal and expected sale price for the property.
The finance committee of the Middletown Community Development Agency on Aug. 4 recommended awarding a $383,100 contract to Matthew J. Davies to fully rehabilitate 7 Genung Street and recommended borrowing the contract amount from the City of Middletown to fund the work, Chair Johnson said during the meeting.
The recommendation came after a presentation from Ms. Bruni, the agency's executive director, who showed photos of the home’s interior after demolition and outlined the planned work. "We demoed and then it went out for full rehab bid," Bruni said, and added that the agency expects to remain on budget.
The committee, which met first as a four-member finance committee, approved two separate actions: awarding the rehab bid and recommending the city loan that will fund the rehabilitation until the…
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