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Pittsburg commission approves $405,000 loan and sales-tax exemption request for Villas at Wellington Springs senior housing
Summary
The commission approved a $405,000 loan at 1% interest to MBL Development to support the Villas at Wellington Springs senior housing project and authorized consideration of industrial revenue bonds; the loan and sales-tax exemption are intended to strengthen the project's housing tax-credit application.
The Pittsburg City Commission on April 22 approved a recommendation from the Economic Development Advisory Committee to provide a repayable loan of $405,000 at 1% interest to MBL Development for the Villas at Wellington Springs, a proposed senior independent‑living complex on Bradshaw Way. The commission also approved a resolution determining the advisability of issuing industrial revenue bonds related to commercial/residential facility financing (Resolution 1293).
MBL representative Kim Lingle described the project as a two‑phase development; each phase would include 40 independent‑living units, two community buildings (one per phase) with a full kitchen and a 700‑square‑foot concrete “safe house” tornado shelter. Lingle said the overall project is a roughly $24,000,000…
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