By CARL ROTENBERG
Times Herald Staff
Charles Gallub, (photo) the principal of Develcom of Bellmawr, N.J., requested approval of the new ownership plan Tuesday so that a financial “closing” for a $10 million HUD 108 loan guaranteed by Montgomery County and a $5 million HUD 108 loan guaranteed by Norristown for the USM renovation project can be completed on May 13.
In December 2010, council had rejected a similar plan to divide the property into six units in a 4-to-3 vote. At that time, council members Mila Hayes, Cathy Lawrence, Marlon Millner and William Procyson voted against the plan. Council members Gary Simpson, Linda Christian and Council President William Caldwell voted for the ownership division.
At the Tuesday night council meeting, Gallub announced that the Studio Centre had been renamed “Norristown Centre,” Forrest said.
read via timesherald.com