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Council may buy out USDA loan

Posted 4/10/18 (Tue)

Council may buy out USDA loan

By Brad Nygaard

In an effort to save money and reduce regulations, Crosby’s city council is considering buying out loans made by the U.S. Department of Agriculture (USDA) for Wallin Manor.

Those loans were for original construction, and for rehabilitation of the apartments after the flood of 2011.

Council members discussed the idea at their meeting Monday last week.

Run by the Crosby Housing Authority, Wallin Manor is subject to a myriad of federal regulations because the property is, in part, subsidized housing for low-income individuals and families.

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