The Haines Senior Village must raise an unexpected $185,000 in the next 10 years to pay off a second mortgage on the 20-year-old housing project due to an apparent oversight.
When built, the 13-unit development carried a $325,000 mortgage that was to be covered by rents. As construction continued, more money was needed and a second mortgage was taken out for $185,000.
Since the 1990s, rents have covered monthly payments on the first mortgage, and…
