529 West 400 North mixed-income housing loan
95-unit mixed-income, mixed-use project, 74 units affordable at or below 50% AMI. The Council was asked to modify a Housing Trust Fund loan to substitute Project Open 2 LLC for North 4th LLC.
- Where it stands
- In review
- Type
- Development agreement
- Location
- 529 West 400 North
- Homes
- 95
- Applicant
- North 4th LLC / Project Open 2 LLC
Every hearing and vote
May 5, 2020 · City Council work session
Housing Trust Fund loan modification for North 4th LLC and Project Open 2 LLC
Pending
The Council was to be briefed on a request to modify a Housing Trust Fund loan so North 4th LLC is removed and Project Open 2 LLC, which now holds the land, is substituted. The mixed-income, mixed-use project would have 95 units, 74 of them affordable at or below 50 percent of area median income. The original City loan was for buying the land.
- Applicant: North 4th LLC / Project Open 2 LLC
- Units: 95 (74 affordable at or below 50% AMI)
- Tentative Council action: May 19, 2020
May 19, 2020 · City Council
Housing Trust Fund loan modification for North 4th LLC and Project Open 2 LLC
Pending
The Council was to consider approving a Housing Trust Fund loan modification for a 95-unit mixed-income, mixed-use development (74 units affordable at or below 50 percent of area median income), removing North 4th LLC from the original land-acquisition loan because the land moved to Project Open 2 LLC.