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Authority finalizing 9% tax-credit application for West Side Phase 2 with $460,000 CRA contribution
Summary
Staff said the authority secured a $460,000 local contribution from the CRA and is finalizing a 9% tax-credit application this week for West Side Phase 2, a planned 84-unit project.
The authority reported progress on West Side Phase 2, a proposed affordable-housing development of 84 units. Miss Pope said the agency had secured a local contribution of $460,000 from the Community Redevelopment Agency and was preparing the 9% tax-credit application due in November: "So our we're at the final stages of our application for the 9% tax credit that will be going in for West Side phase 2 for the 84 units," she said.
Staff indicated the CRA contribution positions the application competitively and that they expected to submit the application by the end of the week. The board discussed timing and approved moving forward with application filing and final documentation.
