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May 17, 2022Chillicothe, Mo. | By: Jeremy Werner
CHILLICOTHE, Mo. - One Missouri city is taking over ownership of one low-income housing complex in town. At it's latest meeting, the Chillicothe city council discussed accepting ownership of the Strand Apartments.
City Administrator Roze Frampton says the owner approached the city with the offer that the city take the building with the assumption of the $218,000 loan on the building.
Under the agreement, the city would own the low-income housing complex for three years before ownership is transferred to Zabka Properties, who would then turn it into market rate apartments.KXCV-KRNW
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