Nature of Contract
To pay predevelopment and rehabilitation expenses related tot he renovation of the Aarti Hotel (391 Leavenworth Street), a 40 unit SRO building that upon completion of the rehabilitation work will be leased to Larken Street Youth Services to provide housing and services to 40 transitional age youths (TAY) ages 18-24. The Aarti Hotel is important to the Department of Public Health's strategy of focused, effective, feasible opration by providing a centralized operation that eliminates added costs related to oprating smaller single and multi-unit homes.
Date Contract Approved
$838,880 – aminding and restating a CDBG deferred payment loan dated January 14, 1982 in the amount of $205,000 – new funds added in the amount of $633,880.