Youngstown council to consider loan to expand housing at YSU

YOUNGSTOWN — City council will consider a proposal Wednesday to lend up to $4 million at 0.25 percent interest to Campus Associates LLC, which is building the Enclave, a $16 million, 194-bed student housing complex on the Youngstown State University campus.

Council’s housing, community and economic development committee recommended its approval at a meeting today.

The company must provide an irrevocable letter of credit from a lending institution to get the 12-month loan, said T. Sharon Woodberry, the city’s director of community planning and economic development.

Also, the structure at the corner of Lincoln and Wick avenues will also include 11,000 square feet of retail space.

The committee also recommended council give Campus Associates a $500,000 water grant for the project.

For the complete story, read Tuesday’s Vindicator and Vindy.com