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Duluth City Council approves housing loan measures, adopts process to fill Second District vacancy
Summary
At a special meeting, the Duluth City Council unanimously approved acceptance of an allonge to a promissory note for Village Place Apartments and authorized a Section 108 loan guarantee note for $2,521,000. The council also adopted a procedure and timeline to fill a vacant Second District seat.
Duluth City Council members at a special meeting unanimously approved two housing-related financing actions and adopted a procedure to fill a vacancy on the council.
The council voted 8-0 to accept an allonge to the promissory note tied to Village Place Apartments and to authorize a contract guaranteeing a promissory note under the Section 108 loan guarantee assistance program for a variable/fixed rate note with a principal amount of $2,521,000. The council also adopted a resolution establishing a candidate-selection procedure for the Second District vacancy that sets application and interview deadlines in August.
The first measure, resolution 25562, authorized acceptance of an allonge to a promissory note related to Village Place Apartments. Councilor Forsman asked staff to confirm that Village Place Apartments is not the Incline Village. Administration staff Staley responded, “I…
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