HANCOCK - Plans for a senior housing project in Hancock remain on track, according to Richard Willson, director of the Washington County Housing Authority.
Partial federal funding for the $2 million Monterey House senior housing project on Main Street in Hancock has been lined up and state funding is likely to follow.
The 25-apartment project would fill the hole left on Main Street when the historic Monterey House burned in 1982.
Willson told the Hancock Town Council Wednesday that a $573,000 low-interest federal loan for the project would come from the federal Rural Development Administration. The county will be seeking the rest of the money through state programs and private financing.
Willson said that once an architect has designed the building, state officials must approve the project to receive state loans. That process could take about nine months. Once the financing is lined up, construction of the home would take about a year, he said.