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City hears USDA balance and possible management change at Calvert Arms
Summary
Staff reported the Calvert Arms complex has an owed balance of $540,000 per USDA and an estimated appraised value of $1.7 million; the Calvert Housing Authority indicated willingness to take over management pending approval from Lionel Sims.
During the Sept. 8 meeting City Administrator Sergio Loya updated the council on Calvert Arms. He said the water account has been brought current and that the U.S. Department of Agriculture informed the city the owed balance is $540,000 while the estimated appraised value is about $1.7 million; Loya noted that a final appraisal has not been completed.
Loya also reported that the Calvert Housing Authority is willing to assume management of the complex with approval from Mr. Lionel Sims. The minutes record these facts as updates; no transfer or formal council action was taken at the meeting.
Council did not vote on a management change or record additional financial terms during the session.
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