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City previews $4.1M support for 5 Points transit‑oriented land acquisition
Summary
City staff presented a stage‑one short‑term loan recommendation to acquire a 1.25‑acre 5 Points site for a mixed‑income, transit‑oriented development. Staff said the request would use TOD and housing trust funds, cap the loan at 90% LTV, and leave the city in first‑lien position.
City staff presented the 5 Points land‑acquisition request during an action preview on Feb. 9, describing a two‑stage process in which council would finance short‑term land acquisition (stage 1) and later review a full development proposal (stage 2).
Warren Wooten outlined the site near the Gold Line, an approximate 1.25‑acre property anticipated for a mixed‑use, mixed‑income…
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