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Council approves $500,000 loan agreement with Canton Housing Authority to support TBG LIHTC application
Summary
Council approved an agreement to authorize a $500,000 loan from the Canton Housing Authority to TBG Residential for its Low-Income Housing Tax Credit (LIHTC) application, with the mayor authorized to sign. The loan requires the project to obtain permitting within 24 months after award, and the agreement removed prior ARPA references.
The Canton Mayor and Council voted to approve an agreement with the Canton Housing Authority to provide a $500,000 loan to TBG Residential to support the company’s application for Low-Income Housing Tax Credits (LIHTC).
City staff said the agreement mirrors last year’s document with two changes:…
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