Public Hearing Sept. 22 for Acquisition & Overhaul of Housing Authority Properties

A public hearing will take place on Tuesday, September 22, 2020, regarding a proposed issuing of bonds to allow the purchase of residential dwellings and the renovation of established properties of the Springfield Housing Authority.

The bonds, which would not exceed $22 million, would be used to finance a portion of the costs for a 297-unit residential rental project involving 85 buildings owned by the Housing Authority of the City of Springfield including:

  • Glenwood Apartments, 722 E. Glenwood St.
  • Cedarbrook Apartments, 811 N. Cedarbrook Ave.
  • Bolivar Road Apartments, 2336 N. Bolivar Road, together with the adjacent single family home located at or about 2301 N. Fort Ave., to be demolished during rehabilitation
  • Villa Marie Apartments, 1010 E. Norton Road
  • Dogwood Apartments, West Madison Street and South Campbell Avenue

and various scattered site buildings located at or about the following addresses:

  • 1633, 1634, 1635, 1636, 1639, 1641, 1642, 1643, 1644, 1645, 1648, 1650, 1652, 1654 N. Delaware Ave.
  • 714, 716, 722, 724, 730, 732, 736, 738 W. Edgewood St.
  • 2628 and 2630 S. Grant Ave.
  • 1405, 1407, 1411, 1413, 1417, 1419, 1423, 1425 E. High St.
  • 405, 406, 407, 408, 411, 412, 413, 414, 417, 418, 419, 420 S. Weaver Ave.
  • 809, 811, 815, 817, 823, 825, 915, 917 W. Sunset St.

The owner/operator of the locations will be Keystone Family Homes.

“This project will rehab or rebuild existing Springfield Housing Authority properties, resulting in significant improvements for these existing affordable-housing properties,” Sarah Kerner, City of Springfield Economic Development director, said in a statement. “This is a tax-exempt bond issue through the City’s Industrial Development Authority. Cedar Rapids Bank and Trust is buying the bonds and acting as the lender for the developer. The bank gets a tax-exempt interest rate on the bonds by going through the IDA. The City is not obligated on the bonds and they do not count against the City’s debt cap.”

Anyone who would like to participate in the public hearing can do so via conference call. The number is 877-230-5394 with the access code 2187566# to join the call. The hearing will begin at 10:30 a.m..

Written comments can also be mailed in advance of the hearing to:

Sarah Kerner
Economic Development Director
City of Springfield
840 N. Boonville Ave.
Springfield, MO 65802

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