Mount Vernon News
 
 

By Mount Vernon News
February 12, 2013 7:53 am EST

 

MOUNT VERNON — A developer of low-income housing approached Mount Vernon City Council, Monday night, requesting support of council and the mayor for a proposed housing development on Upper Gilchrist Road, north of U.S. 36.

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Michael Pultz, a representative of Benchmark Bank in Gahana, owner of the 56.891-acre parcel, told council the bank acquired the property through a foreclosure and wants to sell it to Woda Group, a developer out of Westerville.

“We are anxious to get the property sold and developed,” Pultz said.

Thomas Simmons, senior vice president of Woda, explained the company’s ability to acquire the land was provided in the last week and only has a short window to apply for low income tax credits that can be used as equity for financing.

Simmons said the development would provide 84 family units on 25 acres. The units would not provide government assistance but income guidelines would be required to move in.

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