City Council agreed Tuesday to provide $150,000 for phase II of the Ferncliff Village, an affordable housing development by Housing Resources Bainbridge on the island.
Phase II will include 16 two and three bedroom townhomes, a playground and trails. Each townhome will cost about $200,000, according to the development’s website.
Housing Resources Bainbridge started the first phase of the development in 2011 and sold all of the homes by the fall of 2013.
The city will contribute $75,000 a year for two years after Housing Resources Bainbridge has a construction loan agreement.
Payments from the city will be reimbursements, and Housing Resources Bainbridge must submit receipts.
