A low-income senior housing project in the Catonsville area will receive tax credits and loans from Baltimore County.
Council members unanimously approved the financial assistance for the $12.6 million project, the Greens at Rolling Road, during last night's meeting.
Enterprise Homes Inc. plans to build 83 apartments for low-income residents age 62 and older. Ten of the one- and two-bedroom apartments will be reserved for disabled seniors, according to officials.
Construction is set to begin in June and be complete in 2009.
Under the terms of the council resolution, the developer will pay annual fees (about $150 per unit in the first year) instead of property taxes for 40 years as long as the facility is operated for low-income senior housing.
The council's endorsement of the project also allows the developer to receive $7.5 million in state low-income housing tax credits and $2 million in state rental housing loans.
The council also approved transferring $218,000 from a social services program to provide loans to low- and moderate-income homeowners to make repairs and improvements to their homes. Several council members said they would like to see the Housing Rehabilitation Program expanded.
The council meets next in a work session at 2 p.m. April 29, followed by a budget discussion at 3 p.m. A public hearing on the proposed budget for the 2009 fiscal year will be at 7 p.m. April 29.