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Ferguson Township pledges $150,000 to preserve 49 affordable units; board seeks deal terms before disbursement
Summary
The board pledged $150,000 in support of a Centre County Housing and Land Trust effort to preserve 49 formerly low-income units, with disbursement contingent on clearer deal terms and a future agreement; staff said $300,000 in predevelopment funds are needed to prepare a full financing application.
Ferguson Township supervisors voted Monday to pledge $150,000 toward a preservation effort led by the Centre County Housing and Land Trust (CCHLT) to keep 49 units affordable in a development the agenda identified as Sullivan View Estates (the name was also referenced in discussion as Sylvan Butte Estates).
Township staff and CCHLT representatives told the board the immediate need is for about $300,000 in predevelopment and application costs to assemble a funding package (including state and federal funding…
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