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Commissioners authorize $2.2 million catalytic loan increase for Legacy Village affordable housing
Summary
Manatee County approved a $2,221,045 increase to a catalytic loan for Castle’s Legacy Village affordable housing project after developers cited demolition, remediation and generator requirements that raised costs; the Southwest TIF balance was discussed and staff indicated roughly $6.0 million dedicated to affordable housing remained.
Manatee County’s Board of County Commissioners authorized staff on March 3 to prepare documents to modify the county’s catalytic loan to Castle (Legacy Village) by $2,221,045 from Southwest TIF funds to cover unanticipated site costs.
Tracy Adams, deputy director of Community & Veteran Services, told the board Castle had requested the increase after demolishing blighted structures and encountering hazardous…
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