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Coos OKs $500,000 grant for housing project despite huge surplus of cheap Berlin rentals

NEFH/TKB Principal Kevin Lacasse explained it will cost an estimated $900,000 to renovate the building into 14 one and two bedroom apartments. He said because rents are low in Berlin, the project is not financially viable solely with private capital. If the Community Development Block Grant is approved, NEFH/TKB will still have to raise $425,000 from private sources.

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