Newton
REAL ESTATE
Newton reaches settlement on apartment building
NEWTON, Kan. — The Newton City Commission this week approved a settlement with MetroPlains Properties on a loan used for the development of Lincoln Park Apartments. In 2002, the City received Community Development Block Grant funds from the State that were issued as an interest-free loan to MetroPlains to help redevelop Lincoln School into income-qualified apartments. The company since paid $5,100 on the $200,000 loan. In December 2023, the company asked the City Commission to consider forgiving $94,900 of the loan; the Commission rejected the request, and the City moved forward with foreclosure.
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