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Board approves $250,000 UDAG loan to complete workforce‑housing project
Board of Mayor and Aldermen Meetings · March 24, 2026
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Summary
The board approved Resolution 2040 authorizing a $250,000 UDAG revolving‑loan to support completion of three apartment buildings at The Reserve at Caywood, aimed at housing households earning roughly 80–120% of area median income; the motion passed 4–2.
The Tullahoma Board of Mayor and Aldermen approved Resolution 2040 to provide a $250,000 UDAG revolving loan to The Reserve at Caywood to help complete three apartment buildings on Cedar Lane. Staff and a Small Business Loan Committee representative described the loan as bridging a financing…
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