Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Issaquah council authorizes release of two affordable-housing covenants to fund Acres of Diamonds' 24-unit project
Summary
The council voted unanimously to let the mayor sign an MOU enabling Acres of Diamonds to sell two transitional-housing duplexes at market rate, reimburse previously waived fees and hold sale proceeds in escrow to finance a proposed 24-unit Family Renewal Home in Duval.
Issaquah's City Council on Dec. 1 authorized the mayor to execute a memorandum of understanding that would release two 30-year affordable-housing restrictive covenants and allow the nonprofit Acres of Diamonds to sell the properties at fair-market value to help finance a new 24-unit Family Renewal Home in Duval. The measure passed unanimously, 6–0.
City Attorney Rachel Bender Turpin told the council the MOU would require Acres of Diamonds to reimburse the city for previously waived permit and development fees (adjusted to current value) and repay costs for heat pumps installed through the city's low-income program. The properties at 250/252 SE Andrews (two duplexes) were subject to covenants placed in 2005–2006…
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
