RI May Sell Two Housing Complexes
Rock Island may sell two public housing complexes to the company that's been managing them. Monday night the city council will consider final agreements with Millenia Housing, based in Cleveland, Ohio, so it can buy and renovate Century Woods and Heather Ridge.
Each has 230 units - the buildings at Heather Ridge in southwest Rock Island are 45 years old, or older, while Century Woods, along the Centennial Expressway is at least 75 years old.
The city has already approved tax increment financing districts for the two properties to help Millenia pay for the improvements. The company says it will spend 12 million dollars on each.