BONHAM - Bonham Mayor Roy Floyd thinks that an 80 unit multi-family affordable housing facility for seniors is just what the city needs.
Council members were presented Monday with details of the application, which is done by tax credits through the Texas Department of Housing and Community Affairs. Floyd says that while the application is competitive, Bonham holds the upper hand.
“Of course Bonham is a lot of seniors, number one,” Floyd said. “And number two, our community is setup to where we really need this right now. So I’m sure the process is weighted towards us because we’ve already been pre-approved as a needed community.”
A spokesman for the development on Monday told the council that rent would be approximately $500 per month for each unit. Floyd thinks officials will move forward on the application process in early 2012.
The Council was asked to consider a three-year, low-interest loan of $1,000 per unit, for a total of $80,000 for the property. The item was approved.
Some common spaces for seniors would also be constructed within the gated community. Some transportation services may also be available for inhabitants. It was not immediately clear where the facility would be built.