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Newport approves financing for 342-unit development at former steel mill site
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Newport approves financing for 342-unit development at former steel mill site
Newport officials approved up to $100 million in industrial revenue bonds, also known as IRBs, on Monday to help finance the 342-unit housing development at the long-vacant former steel mill site along Route 9. The IRB will help developer PLK Communities in financing acquisition, construction, installation and improvements for the project at 910 Lowell St. The city acts as a conduit issuing the IRB. It is not the city’s debt, and it does not a…
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