Medium PriorityDevelopmentopen
Madison Grove II affordable senior housing loan
Summary
The city approved a $460,000 repayable loan to help an affordable elderly apartment project compete for state housing tax credits — the mayor noted it generates about $30,169 a year in property taxes plus roughly $330,000 interest over 30 years.
At a glance
- Total mentions
- 1
- Last 30 days
- 0
Last discussed Jun 11, 2026.
Impact analysis
💰Financial impact
$460,000 city loan, repayable with roughly $330,000 interest over 30 years.
✅Who benefits
Seniors seeking affordable housing and the city's tax base.
Mentions & discussions (1)
We'll email you when it's on an upcoming agenda and when it's voted on, at most once a day.
The weekly brief for St. Cloud
What the council decided, in plain English — one email a week.
Free. Unsubscribe with one click any time. We never sell your email.