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Rangely council authorizes $50,000 DOLA predevelopment grant application for duplex project
Summary
Council approved an application to the Colorado Division of Housing (DOLA) for a $50,000 predevelopment grant to support a three-lot Rangely Duplex project; Interim Town Manager Lisa Perring said some predevelopment costs (appraisal, closing) have already been incurred.
The Rangely Town Council voted Sept. 23 to submit a predevelopment grant application to the Colorado Division of Housing (DOLA) seeking up to $50,000 for the Rangely Duplex project covering three lots. "The most we will get is the 50,000," Interim Town Manager Lisa Perring said, adding the town had already incurred appraisal and closing costs on the parcels.
Council member Tim moved to approve the application and authorized Perring to proceed; the motion was seconded and passed by voice vote. The council also authorized Perring to be the signature authority on the application and any resulting agreement. Perring said she doubts the town will need to contribute matching funds beyond existing expenditures but wanted the council to understand what costs have already been incurred.
