St. Vincent Apartments marked a milestone on Thursday morning, but the next phase of the planned seniors’ affordable housing project is, for now, uncertain.
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Arguing there is little chance the Marguerita Residence Corporation will even need the funds, the planning and operations committee on Tuesday recommended the full council approve the request.
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The full council’s final vote is expected to happen next Tuesday.
The recommendation comes a week after city council waived almost $193,000 in building permit and wastewater fees for the non-profit corporation building an 88-unit seniors’ apartment building on the site of the former St. Vincent de Paul Hospital.
The request for a guarantee of up to $750,000, to cover possible construction cost overruns, was made at the insistence of the Marguerita Corporation’s lender, TD Commercial Banking.
Article content
Arguing there is little chance the Marguerita Residence Corporation will even need the funds, the planning and operations committee on Tuesday recommended the full council approve the request.
We apologize, but this video has failed to load.
Try refreshing your browser.
The full council’s final vote is expected to happen next Tuesday.
The recommendation comes a week after city council waived almost $193,000 in building permit and wastewater fees for the non-profit corporation building an 88-unit seniors’ apartment building on the site of the former St. Vincent de Paul Hospital.
The request for a guarantee of up to $750,000, to cover possible construction cost overruns, was made at the insistence of the Marguerita Corporation’s lender, TD Commercial Banking.
Article content
Arguing there is little chance the Marguerita Residence Corporation will even need the funds, the planning and operations committee on Tuesday recommended the full council approve the request.
We apologize, but this video has failed to load.
Try refreshing your browser.
The full council’s final vote is expected to happen next Tuesday.
The recommendation comes a week after city council waived almost $193,000 in building permit and wastewater fees for the non-profit corporation building an 88-unit seniors’ apartment building on the site of the former St. Vincent de Paul Hospital.
The request for a guarantee of up to $750,000, to cover possible construction cost overruns, was made at the insistence of the Marguerita Corporation’s lender, TD Commercial Banking.
Article content
Arguing there is little chance the Marguerita Residence Corporation will even need the funds, the planning and operations committee on Tuesday recommended the full council approve the request.
We apologize, but this video has failed to load.
Try refreshing your browser.
The full council’s final vote is expected to happen next Tuesday.
The recommendation comes a week after city council waived almost $193,000 in building permit and wastewater fees for the non-profit corporation building an 88-unit seniors’ apartment building on the site of the former St. Vincent de Paul Hospital.
The request for a guarantee of up to $750,000, to cover possible construction cost overruns, was made at the insistence of the Marguerita Corporation’s lender, TD Commercial Banking.