The Reading Housing Authority is asking the city to release a $1.475 million debt tied to the River Oak Apartments, saying doing so would clear the way for badly needed renovations to the 72-unit affordable housing complex.
Authority President and CEO Stacey J. Keppen and authority solicitor Edwin L. Stock made the request to City Council during its committee of the whole meeting Monday.
The authority sought similar relief in 2022, when council unanimously opposed forgiving the debt. At that time, the authority said eliminating the obligation was necessary to secure financing for repairs.
Keppen said Monday that River Oak, a townhome-style development on River Road with two- and three-bedroom apartments, has been maintained by the…