Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Redevelopment commission approves $564,500 reimbursement for Paradise Community Homes land purchase
Summary
The Valparaiso Redevelopment Commission unanimously approved a grant‑application reimbursement of $564,500 to Paradise Community Homes to help pay off a $764,500 land purchase from Valparaiso University; the nonprofit says the parcel will support roughly 31–33 attainable homes and sell a portion of lots at market rate to fund infrastructure.
The Valparaiso Redevelopment Commission unanimously approved a grant‑application reimbursement for Paradise Community Homes on Feb. 12, authorizing staff to finalize a grant agreement and return signatures before funds are disbursed.
Paradise Community Homes asked the commission to reimburse $564,500 of a $764,500 purchase of university‑owned property. Bill, president and CEO of Paradise Community Homes, said the organization put $200,000 down and needs the RDC reimbursement to pay off the remaining note to Valparaiso University.
"We made them an offer of $764,500. We were able to put $200,000 down, and so we owe a balance right now of $564,500," Bill said.
Why it matters: Bill said the…
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
