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Council releases funds for housing, downtown redevelopment

Albion City Council gave its approval last Tuesday night to release $250,000 in sales tax funds to stimulate additional housing development and begin redevelopment in the downtown area.
Albion Economic Development Corp. (AEDC) presented a three-part request for the funds:
• $100,000 to offset infrastructure costs and help reduce lot costs in the new Niewohner housing development along the South Eighth Street extension;
• $100,000 to assist with infrastructure in adding new housing to the community;
• $50,000 to help with purchase and demolition cost of the former bike shop and Billy Bob’s buildings on Main Street.
In addition, the council convened as the Albion Redevelopment Agency to approve an AEDC request for use of $43,360 in tax increment financing (TIF) funds to be used in the acquisition/demolition and redevelopment of the Billy Bob’s and bike shop properties.
Details in the Oct. 22 Albion News Print and E-Editions.

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