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The Northeast News & Tribune
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Commissioners OK Loan For Nonprofit To Buy Apartments
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Published: August 6, 2008
UNIVERSITY AREA - Hillsborough County commissioners Wednesday approved a $1.47 million loan to a nonprofit agency to provide housing in the University Area.
The University Area Development Corp. plans to purchase, renovate and manage Shadowood Apartments, 12733 N. 19th St. The development corporation is expected to pay about $1.5 million to buy the complex and $350,000 for renovations.
The apartment complex has 24 units and 16 must be designated for residents whose rents will be subsidized by federal funds.
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