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Committee backs WBC application to buy 8.37 acres for affordable housing amid private-equity concerns
Summary
The Finance Committee voted to forward a resolution supporting a Wyoming Business Council application to purchase 8.37 acres for affordable housing. Staff said the parcel price is $2.9 million, with $500,000 in CDBG and $225,000 from Related Digital pledged; the committee debated developer selection and private-equity involvement before recommending adoption (two members in favor; one opposed).
City staff told the Finance Committee on Nov. 18 that the city plans to apply to the Wyoming Business Council's Business Ready Community program to purchase 8.37 acres for affordable housing. Economic Resource Administrator Renee Smith said the purchase price is $2.9 million and that the city's match will include more than $500,000 from CDBG rollover and a gift from Related Digital.
Renee Smith described the funding plan: "we had planned to use $500,000 from CDBG and $225,000 from Related…
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