Middletown CDA reports housing rehab progress; Washington Street sale paused by FHA mortgage delay

The executive director of the Middletown Community Development Agency reported on several housing rehabilitation projects and the agency approved routine bills presented at the meeting.

Staff told the board that the Washington Street property has an identified buyer but the closing is paused because the buyer’s FHA mortgage is delayed by a federal government shutdown. "We're on our way to closing," staff said, and the closing is contingent on resolution of the federal issue. The executive director said the agency has a buyer for Washington Street and is waiting for mortgage clearance.

The agency reported that 168 Linden is being marketed by Pathstone, which is working with three applicants. Members said they will monitor the marketing results. Staff also reported rehab work on a property transcribed as Jenung Street (also spoken as "Janung" in the meeting) is moving forward; one member who rode by described the property as "pretty well gutted."

During bills and communications staff listed line items and interest amounts associated with the properties. The report, as read at the meeting, included: lead clearance for $1.68 (as stated), lending for $630 (as stated), legal services and a transfer of $1.35 to the city (as stated), interest owed to the city for Washington Street of $461.90, and interest owed to the city for 168 Linden of $280.24. These figures were read into the record; the transcript indicates some dollar amounts were spoken quickly and may be transcribed imprecisely.

A motion to approve the bills was made by Alderman Massey and seconded by Alderman Green; members voted in favor and the motion carried. Later on the regular agenda the RBT auditor resolution was again placed and the meeting adjourned.