Developers of the Ellsworth Estates condominiums won’t get a no-interest loan to put the finishing touches on half a dozen units in the converted former hospital, but they will be offered a new deal as the City Council extends a hand to help the group that took a risk to help the city.
The Council met in special session Monday evening. The short agenda included a recommendation from the city’s Revolving Loan Fund Committee to offer a three-year no-interest loan of $250,000 to the Ellsworth Neighborhood Investment Group. City Manager Jody Anderson presented the proposal to the committee at its June 13 meeting. He said he’d been tasked with looking into ways the city could help the investors sell more of the condominiums.