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Affordable housing committee approves $105,500 predevelopment grant for Reed Street site
Summary
The Evansville Affordable Housing Trust Fund Advisory Committee approved a $105,500 grant to Echo to pay predevelopment costs for a proposed affordable housing project on the 400 block of Reed Street, with the applicant saying the work could leverage millions in federal financing.
The Evansville City Affordable Housing Trust Fund Advisory Committee voted to approve a $105,500 grant to Echo to cover predevelopment expenses for a proposed affordable housing development on the 400 block of Reed Street.
Echo representative Eric Chipmier told the committee the group has acquired all 10 lots along the block and is seeking money for Phase I environmental work, a market study and conceptual plans. "We are requesting a $105,500 grant for predevelopment expenses for a proposed development on the 400 Block Of Reed Street," Chipmier said. He said demolition of two houses will be required before an environmental assessment can be completed and noted a surprise contamination cleanup on a nearby site earlier this year that cost about…
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