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Development Corporation approves $321,615 for affordable‑housing programs, including gap financing and multifamily rehab
Summary
The board approved an allocation not to exceed $321,615 for FY25‑26 to fund gap financing for four new homes, an exterior‑repair program, administrative costs and an 8‑unit multifamily remodel; staff said prior year activity included two new homes and 11 exterior projects.
The San Angelo Development Corporation voted on Dec. 10 to allocate up to $321,615 for affordable‑housing programs in FY25‑26, approving a package that includes gap financing for four new homes, neighborhood exterior repairs and partial funding for a multifamily rehabilitation project.
Stephanie Hamby (housing program director as listed on the agenda) presented a year‑end…
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