Thursday, April 24, 2014

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Jamestown

BMHA to seek bridge loan for Kensington Heights demolition

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BUFFALO, N.Y. — The Buffalo Municipal Housing Authority has approached M&T Bank about a bridge loan so the Authority can continue the demolition of Kensington Heights.

The BMHA voted Tuesday to enter into discussions with the bank for a $3.5 million loan. The loan would supplement $3.3 million in remaining state funds, which the Authority used to knock down the first two buildings on the site.

If the loan is approved, the Authority says it will demolish building three over the winter. It hopes to secure federal funding to demolish the remaining three buildings by next spring.

Kensington Heights has been vacant since 1980.

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