Credit: City of Sedona
By AZBEX
The City of Sedona is selling a property at 401 Jordan St. to the Sedona Fire District and buying 1.8 acres at 2411 State Route 89A that could be used for an affordable housing development of 36-40 units.
The City’s housing reserves of $18M are committed to other projects, but funds could be transferred from a balance of funds allocated for a roundabout project. The estimated purchase price would be $1.99M plus $25K in closing costs.
Housing Manager Jeanne Blum told the Sedona City Council the property has a high likelihood of securing a 9% Low-Income Housing Tax Credit if used for affordable housing development.
In the meeting last month, Blum said the City had already issued a Request for Proposal for affordable housing developers interested in building on the property.
