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Board approves $1.5M loan and $350K rehab funding for Dale Haven Estates
Summary
The Board authorized a $1.5 million forgivable loan to a developer for Dale Haven Estates and approved a separate $350,000 rehabilitation contract for two units; staff said most project funding comes from HUD and developer equity and noted the city’s ARPA funds will be structured as a forgivable loan.
The Board of Public Works on Dec. 12 approved city authority for a $1.5 million loan to Home Investments Evansville OZ LLC to support the Dale Haven Estates affordable‑housing project and separately approved $350,000 for rehabilitation of units at the same complex.
City counsel and staff said the city loan is a small component of the project capital stack and that…
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