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Board approves loan amendments to preserve affordable housing at two Franklin County developments
Summary
The commission approved first amendments to HOME loan documents for Westerville Senior Housing (Ravine at Central College) and Chantry Place Housing to forgive interest, set 0% interest going forward, require minimum $10,000 annual payments and extend maturities to preserve affordability.
The Board approved first amendments to HOME loan agreements and related loan documents for two affordable housing developments to preserve affordability and allow continued operation.
Robin Morehead, assistant prosecuting attorney, said Franklin County originally made HOME loans of $500,000 to both…
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