Extension Of 780 Rand Road Purchase Option Expected

There will likely be an extension of the purchase option for Community Development Partners and Columbia Cascade Housing Corporation to acquire the 780 Rand Road property from the City of Hood River for 129 units of affordable housing.  City Manager Abigail Elder says the current option expires at the end of this year, and it will likely take another year to assemble all the financing elements required for the project.  CDP expects to apply to the state this fall for low income housing tax credits and private activity bonds.  In July the project was approved for over $15 million in Local Innovation and Fast Track funding.

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