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Commission approves $220,000 HOME-ARP allocation for Carroll Street townhomes
Summary
The Albany City Commission voted to allocate roughly $220,000 in remaining HOME-ARP funds to MP Organization LLC to complete a 32-unit townhome development at 108 South Carroll Street, preserving 13 affordable units under a 15-year affordability period and approving repayment/forgiveness terms consistent with the original agreement.
The Albany City Commission on Sept. 2 approved a resolution authorizing an additional $220,000 from HOME-ARP funds to MP Organization LLC to help complete a 32-unit townhome project at 108 South Carroll Street.
Developers told the commission the project was re-scoped from an earlier plan for smaller duplexes and an eight-unit Hallmark prototype into a larger 32-unit development to serve residents at greatest risk of homelessness alongside market-rate tenants. Staff and the developer said the change was approved in the city’s allocation…
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