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Albany commission backs $3 million revolving loan fund for two affordable‑housing projects amid concerns about trust‑fund use
Summary
The commission approved a long‑term financial planning recommendation to establish a $3 million community development revolving loan fund to support two affordable housing projects (Dogwood Trails $1.2M; Harding Court $1.8M); several commissioners questioned using utility trust funds and urged protections for senior rebates.
The Albany City Commission voted to approve a long‑term financial planning committee recommendation to establish a $3,000,000 community‑development revolving loan fund that will seed two proposed affordable‑housing projects: $1,200,000 for Dogwood Trails and $1,800,000 for Harding Court.
City Manager Terrell Jacobs and staff told the commission the funding would come from existing utility‑trust credits (referred to…
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