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Commission approves Friendship Village project plan; consent agenda includes multiple housing and contract items
Summary
The commission approved a project plan and bonding recommendation for Friendship Village senior housing after staff and counsel confirmed bonds are payable solely from the borrower. The consent agenda also advanced housing items including a 50‑year 4% pilot for a 48‑unit recovery housing project and a time extension for a LISC rental rehabilitation program.
The City Commission adopted a resolution approving the Friendship Village of Kalamazoo project plan and its associated bonding recommendation after staff and outside counsel confirmed that the bonds would be payable solely from Friendship Village and would not be an obligation of the city or Economic Development Corporation.
Bobby Boyd, Economic Development Supervisor, said the project is a redevelopment for a senior housing…
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