Potential $30 million grant put on hold an extra year
Wed, 24 Jul 2013 01:54:44 GMT —
The Albany Housing Authority has spent the past three years working on a grant that could bring millions to our city, but on Tuesday evening they decided to postpone the application for one more year.
The eight working groups put in place recommended the board take an extra year to try and secure more investors, and members say they've now begun accepted proposals from developers to do that.
"Part of that would be to start a housing construction project in advance of the Choice Neighborhoods Grant so we can get some more equity investment from that and it'll leverage some of those funds," said Executive Director Dan McCarthy.
The authority says they'll continue moving forward with the Choice Neighborhoods project despite not applying until 2014, which also includes building a community garden and more.