GEORGETOWN, Ky. (FOX 56) — The Georgetown City Council approved funding for a proposed affordable housing development during a special meeting Thursday night, despite concerns from some residents about the project’s timeline and public awareness.
Woda Cooper Companies is asking the city of Georgetown, Scott County, and Georgetown Municipal Water and Sewer Service to each provide $300,000 to help fund the proposed Elkhorn Crossing development on North Hamilton Street.
According to the developer, the loans would be repaid over 30 years at a 2% interest rate.
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The funding requests do not include the city’s cost to build a new access road from Hamilton Street to the proposed development…