Loan $3.5 million to help rehabilitate 142-unit Nevin Plaza senior housing
In Plain English
Nevin Plaza is a 7-story building at 2400 Nevin Avenue that houses 142 low-income seniors and disabled residents. The developer needs additional funding to complete necessary repairs and improvements. The city provides $1.75 million in federal pandemic funds plus $1.75 million from affordable housing fees as a loan that gets repaid only if the project makes money.
Auto-generated summary. Source: official agenda documents.
Votes
To approve the item and continue the application with the county to offer other amenities or potentially pay the city back from the funds it fronted
5 to 2
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