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Council approves RDNI cooperative‑endeavor agreement and reallocates bond funds to support Rivanna affordable housing
Summary
The City Council approved a cooperative‑endeavor agreement and reallocated capital funds to provide gap financing for the Rivanna Apartments, the River District’s first phase of affordable‑housing production, and passed related motions to enable contract signings for several bond‑funded housing projects.
The City Council on Nov. 6 approved a cooperative endeavor agreement to deliver roadway and right-of-way infrastructure in the River District and to reallocate an equivalent amount of capital funding to provide gap financing for the Rivanna Apartments affordable-housing project.
Councilmember Helena Moreno and others described the item as an administration‑requested agreement and noted the council had previously budgeted approximately $6.2 million in capital gap funding for the project. According to council staff, the Rivanna project is…
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