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Committee approves reducing CDBG-compliant units at new Radian apartments from 30 to 22
Summary
After reconsideration, the committee approved an amendment to a CDBG agreement for the 42-unit Radian apartment complex, reducing the number of units required to meet CDBG affordability rules from 30 to 22 following monitoring that found eight units out of compliance with rent limits.
The Rapid City Legal and Finance Committee on Feb. 12 approved an amendment to the city’s Community Development Block Grant (CDBG) agreement for the recently completed 42-unit Radian apartment complex that reduces the number of rental units required to meet the city’s CDBG affordability standards from 30 units to 22 units.
Director Ainsley told the committee the city’s CDBG monitoring found that rents on eight of the 30 units previously identified as CDBG-compliant exceeded program limits,…
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