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Brownfield board recommends reimbursement agreement for Hanchet housing project; EGLE coordinator outlines assessment, grants and loan options
Summary
The Brownfield Redevelopment Authority voted to recommend a reimbursement agreement tied to a proposed Hanchet/Deschano housing development and heard Andrea, EGLE’s Brownfield coordinator, explain site-assessment procedures, $1M grant/loan caps per project and how EGLE funding layers with TIF and MSHDA incentives.
The Brownfield Redevelopment Authority voted to recommend a reimbursement agreement for a planned housing project on the Hanchet property and heard an EGLE brownfield coordinator outline how state site-assessment grants, loans and tax-increment financing can be combined to support the development.
At a meeting where board members approved the Oct. 28 minutes, a city staff member drew attention to the proposed reimbursement agreement and its key terms, saying, “So, at least 10% of the residential units need to be maintained for households earning 120% AMI or less,” and that income‑restricted units could not be offered as short‑term rentals.
The board then considered a motion that the reimbursement agreement between Green Development Ventures (San Diego) be recommended to the city commission. A board member moved the recommendation; the motion was seconded and members present voiced their support. The board noted the agreement carries signature lines for the BRA…
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