The Albany Housing Authority is working to improve a low-income apartment complex. The Authority passed a resolution authorizing a tax-exempt loan of up to five million dollars to renovate the Bethel Housing Complex in East Albany. The last time major work was done on the apartment complex was back in 1996.
"Well it's good, it's one of the functions of the housing authority, we haven't done much of this because of the market in Albany, some communities do a lot more, but it's a function of the authority to be able to issue these bonds in support of affordable housing properties," said Dan McCarthy, Executive Director, Albany Housing Authority.
The resolution now has to go before the city commission for their approval.