PNC Bank files for payment of Linden Meadows loan

PNC Bank has filed a lawsuit against the Floyd County-New Albany Community Housing Development Organization to try and recover about $1million from a defaulted loan. The money was borrowed by Community Housing to rehab houses for the Linden Meadows development. The units were moved to Cottom Avenue after the expansion of Floyd Memorial Hospital and were to be sold to low-to-moderate income home buyers. The Indiana Housing and Community Development Authority halted work at Linden Meadows this summer because of blight related to the condition of the houses