CHANDLER — After it was approved by the Chandler Area Economic Development Corporation, the City Council here is prepared to loan another $140,000 to a housing development expected to open its first phase this month, an official said.

“We loaned (Solutions Plus) $100,000 on the first phase, and he has to pay that back before we can get him a loan on the second phase,” city administrator Jim Moffeit said. “The EDC has approved (the second loan). The council now has to approve it.”

No portion of the $100,000 loan had been paid back, Moffeit said, but the developer has until December or January to pay it in full.

The second construction phase of the governmentsubsidized SilverLeaf at Chandler on Farm-to-Market Road 2010 was expected to be complete in weeks. Some units at SilverLeaf at Chandler were expected to be available this month.

An $8 million project, the apartment community is for tenants 55 and older who are on fixed incomes. The one- and two-bedroom units range in price from $194 to $565.

The first phase includes 30 units and a clubhouse. More than 70 units are scheduled to be built by Neches Construction.

The EDC, which Moffeit chairs, provided a $100,000 loan to Solutions Plus in 2009 to help cover the cost of infrastructure.

And last November, the city approved a resolution “declaring support” for SilverLeaf to apply for assistance this year from the Texas Department of Housing and Community Affairs, which has awarded more than $500,000 in tax credits to SilverLeaf at Chandler.

The state program provides grants and loans to help governments and agencies build affordable housing to low-income families.

Alpha-Barnes Real Estate Services of Dallas is managing the property. About 60 percent of the first phase has been leased, Moffeit said.