Developer seeks city support for Fort Point loan program; commission asks for financial details
Developer representatives outlined plans for the Fort Point site and requested the city's support to apply to a state moderate‑income revolving loan fund to cover horizontal infrastructure for up to ~450 units; commissioners asked for detailed financial impact estimates and deferred action pending more information.
The full story
Representatives for the Fort Point development presented an overview of a request for the city's support to access a state moderate‑income revolving loan fund to finance horizontal site work (grading, utilities and curb/street work). The presenter said the program has roughly $75 million earmarked statewide and that the Fort Point application would seek funding for roughly 180–240 units at approximately $20,000–$25,000 per unit for horizontal infrastructure.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.