borough-of-st-petersburg-agenda-2024-07-11_ff7.pdf
City Approves $610K Loan for Affordable Housing Project
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Description
Hartford Owner LLC authorized to receive a $610,000, 0% interest, 50-year forgivable loan as Local Government Area of Opportunity funding to support a new affordable housing development in St. Petersburg.
Contract Details
Contract Amount
$610,000
Vendor
HARTFORD OWNER LLC
Agency
Borough of St. Petersburg, PA
Contract Type
FINANCIAL_SERVICES
Document Date
July 11, 2024
Contract Term
Forgivable 0% interest subordinate loan, 50-year affordability period
Renewal Date
2074-12-31
Renewal Info
If project unsuccessful in securing one LIHTC grant, loan may move to SAIL RFA application.
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APPROVEDCity of St. Petersburg City Council Meeting Agenda July 2024
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