Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council reviews Cherry Street property and options for affordable housing; bond debt, deed restrictions noted
Summary
Staff updated council on Cherry Street property history and finances: a $834,000 2018 bond with about $580,000 spent to date, roughly $62,000 annual debt service, deed restrictions for municipal purposes, and an approximate site area of 1 acre with a zoning cap near 32 units under current density allowances.
City staff briefed council on the status of the Cherry Street property and potential uses for affordable housing, noting deed history, outstanding debt and practical development constraints.
Staff said the property was originally conveyed with municipal-purpose deed restrictions; the city issued an $834,000 bond in 2018 and has spent roughly $580,000 on the property to date, including surveys and staff time. Staff reported annual debt…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
