Economic development director: $350,000 Homeward loan to fund Osage twin-home project, E.D. board approved

Jenny Baker, Mitchell County economic development director, told the Board of Supervisors that the county's economic development board approved a loan offer from Homeward Inc. for $350,000 that will be re-loaned to a housing developer for a twin-home project in Osage. "We did approve the application, the infill lot application, which is on your agenda today," Baker said, adding that her board "also approved a loan offer from Homeward Inc in the amount of $350,000. We will then reload those funds to the housing developer for a twin home project in Osage."

Baker said the infill lot house on Underwood Avenue that had been granted an extension was demolished July 24 and that she will forward invoices and reports to the supervisors. She also reminded the board that economic development staff will host a booth at the Mitchell County Fair to promote services and programs. Board members asked for clarification on the lender and program details; Baker described the Homeward program as a separate community loan vehicle with roughly a 3% fixed interest rate compared with typical bank rates and said she would send follow-up materials.