Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Akron council backs $400,000 bridge loan to rehab 32 apartments in Ward 8
Summary
Council approved backing for a $400,000 bridge loan to JCI Capital to renovate 32 Zahn Drive apartments in Ward 8, aimed at preserving affordable units and enabling bank financing; the ordinance passed 11–2 after questions about loan terms.
Akron City Council voted to back a $400,000 bridge loan to JCI Capital intended to rehabilitate 32 apartments at a multi‑building complex on Zahn Drive in Ward 8, a move supporters said will preserve affordable units and prevent sale to absentee owners.
The measure, presented by Councilman Bruce Bolden, authorizes city support so the owner can obtain bank financing for renovations. Bolden said the project covers eight buildings and that units will be upgraded with $3,000–$5,000 in repairs per unit. “This…
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
