Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council approves CPC loans: $200,000 for 116-unit Farm Ave. affordable project and $80,000 bridge loan for NASCAP
Summary
Peabody City Council unanimously approved Community Preservation transfers including a $200,000 0% deferred 30-year loan to Emerald Development to support a proposed 116-unit affordable rental project at Farm Avenue and an $80,000 bridge loan to NASCAP to continue TBRA rental assistance while awaiting reimbursements.
The Peabody City Council on Dec. 9 approved Community Preservation Act transfers and loans to support local affordable-housing projects and rental assistance.
Council approved a $200,000 0% interest, deferred 30-year loan to Emerald Development to assist a proposed $63.9 million, 116-unit affordable rental project at a former Farm Avenue site. Mayor (unnamed) said the loan will…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
