Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing Rehab Updates topic
No spam. Unsubscribe anytime.
Executive director: Washington Street closing delayed by federal shutdown; Pathstone marketing 168 Linden
Summary
The executive director reported that the Washington Street rehab closing is on hold because it uses an FHA mortgage and a federal government shutdown has delayed closing; there is a buyer identified. Pathstone is marketing 168 Linden with three applicants; Janung Street rehab work is underway.
The executive director told the Middletown Community Development Agency that several housing rehabilitation projects are progressing but one closing is on hold.
“Washington Street, we're on our way to closing,” the executive director said, then explained the closing is paused because it involves an FHA mortgage and a federal government shutdown. “So we do have a buyer for that. Now we just have to wait,” the executive director added.
Staff reported that Pathstone is marketing 168 Linden and is working with three applicants, and that work on Janung Street is advancing — the executive director said the property is “pretty well gutted.” No closing date for Washington Street was provided in the transcript, and the director did not provide estimated timelines for the 168 Linden marketing process or the completion date for Janung Street.
The remarks were delivered during the executive director’s report; the transcript does not record further details about funding sources for the projects, affordability restrictions or buyer qualifications.
Next steps implied in the discussion include awaiting resolution of the federal shutdown (for the FHA-related closing) and continued marketing and rehab activity on the listed properties.
