I need to get back on the airport--I promise three parts to go and I am done.
After voting to approve the purchase of the former City Builders parcel for $495,000 from a grant from CEDAC, it was called to our attention by one board member, after reading the documents, that this "grant" had to be repaid. In other words it was not a "grant" at all, but a loan.
At our next board meeting it was not explained that the "grant" in fact really was not a "grant", but a loan. After much discussion another vote was taken and it was voted to approve the loan (much closer vote) and still buy the City Builders property. The plan then was to build 20 plus owner occupied units with duplex style housing with off street parking.
Part 9: When 20+ duplex style owner occupied units turns into one 23 unit apartment building for low to mod income tenants.
Are You Ready for a Glorious Sunset? Full Transcript - This is a transcript of the Freakonomics Radio podcast “Are You Ready for a Glorious Sunset?” [MUSIC: Brotherun, “Wishful Thinking” (from Brotherun EP)] St...
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