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City approves $25,000 loan to housing agency

Published Oct. 16, 2005

The City Council on Thursday approved a loan of $25,000 to the St. Petersburg Housing Authority to begin covering costs of moving residents out of the Laurel Park public housing complex. The Housing Authority is scheduled to receive a $2-million payment from the city after the U.S. Department of Housing and Urban Development (HUD) approves the sale of the complex. But HUD has yet to do that.

Officials said the authority will use the $25,000 to start the relocation effort until HUD makes a decision.

The money would be returned to the city if HUD decides against the deal.

The city plans to raze the complex and use the property for parking for the Florida Suncoast Dome.