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Committee forwards $1 million UDAG loan for CEVA redevelopment to full council
Summary
The Tacoma Community and Economic Development Committee voted to forward a resolution to city council that would authorize a $1,000,000 UDAG loan to CEVA Redevelopment LLC to fund tenant improvements for street-level retail in a downtown mixed‑use historic rehabilitation that preserves 78 affordable housing units.
Deputy Mayor Jared Daniels chaired the Community and Economic Development Committee meeting on June 24, 2025, where the panel moved to forward a resolution to the full City Council authorizing a $1,000,000 Urban Development Action Grant (UDAG) loan to CEVA Redevelopment LLC for tenant improvements on street‑front retail in a downtown historic rehabilitation.
The loan is part of a larger $9.5 million capital redevelopment of three properties along St. Helens, Market and Ninth Avenue that the developer purchased in September 2024 for $6 million. Debbie Bingham, with the community and economic development department, told the committee the UDAG loan “is for tenant improvements for those retail spaces” and that the redevelopment aims to preserve 78 affordable housing units and rehabilitate 8,500 square feet of street‑front retail.
The nut graf: Committee members said the project addresses long‑standing vacancy and safety concerns along St. Helens and Market streets by reactivating ground‑floor commercial space and investing in building rehabilitation, while preserving affordable…
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