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Spending board to consider $266,000 developer loan
Baltimore City Hall (The Daily Record/Lauren Rock)

Spending board to consider $266,000 developer loan

Baltimore’s spending board is scheduled to consider loaning a developer $266,000 to renovate an apartment building in East Baltimore on Wednesday.

The Board of Estimates is scheduled to consider a Community Bond Fund Loan to Baltimore Community Development LLC to help pay the $881,300 expected cost of rehabilitating the property located at 1106 W. Lafayette St.

“The building has been vacant for some time and is in need of substantial renovation and code compliance. Vandalism and illegal occupants have caused damage to the property, which continues to deteriorate,” according to the board’s agenda.

Once the project is complete, it will consist of seven units that will be rented to households with incomes no greater than 60 percent of the area median income. At least one of the units will be accessible for a disabled resident and another unit will be specifically set aside for a resident with hearing and vision impairments.

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