AMENDMENT

Neighborhoods, Community Services, Public Health and Safety Committee · 2026-09-14 · agenda_item

This item concerns an amendment to a previously authorized REV grant for a residential development. The original grant was for 118 market-rate residential units with an estimated private capital investment of $14,545,000. The revised grant, if approved, would be for 95 market-rate residential units with an estimated private capital investment of $20,000,000. The project was not completed by its deadline, and this amendment seeks to correct project details and extend grant terms. The project is currently pending review by the Neighborhoods, Community Services, Public Health and Safety Committee. This amendment could set in motion work related to the development of residential units, including site preparation, construction, and utility installation. Contractors, suppliers, and service providers in residential construction and related trades may find opportunities by engaging early before final plans and permits are established.

REV grant

1,000,000 $

market-rate residential units

95

private capital investment

20,000,000 $

REV Grant

820,000 $

market-rate residential units

118

private capital investment

14,545,000 $

ROI

2.01