Low
and Moderate Income Housing
Redevelopment
agencies throughout California are responsible
for the production of safe, sanitary and decent
affordable housing for very low, low, and moderate
income wage earners. Within the Health and Safety
Code and Redevelopment Law is a description of
eligible uses of the funds set-aside for such
purposes. In addition to the construction of new
apartment units as described in the Lexington
Avenue Senior Apartments, the law also provides
for the development of single-family homes. The
following is a list of those projects assisted
by the Agency for new construction of single-family
homes or the rehabilitation of existing multi-family
complexes.
New Construction
|
Year |
Project
Description |
Agency
Assistance |
|
|
| |
Granite
Hills Place - 12 Single Family Homes
#12 on Map
In 1994, the Agency entered into an Affordable Housing Agreement for the acquisition and construction of 22 single-family homes with P&E Development. Sales prices averaged $145,000 per unit and 11 of the 22 units were sold to low income households under 33-year covenants. The Agency invested $710,000 into the project that was completed in 1995. )
|
$710,000 |
 |
|
| |
Lexington
Avenue - 100 Senior Apartments
#5 on Map
On November 30, 1993, the Agency executed a Disposition and Development Agreement with Goldrich, Kest & Associates for the construction of 100 very low income housing units for senior citizens. The Project was completed in 1995 and remains fully leased and an integral development in the revitalization of downtown. The Agency invested approximately $7.4 million into this project.
|
$8,000,000 |
 |
|
| |
Benton
Place - 16 Single Family Homes
#13 on Map
In 1995, the Agency entered into an Affordable Housing Agreement with Weiland Development Company for the acquisition of property and construction of 16 single family homes. All 16 units were sold to low and moderate income households, ranging from $142,000 to $151,500. Completion of this project in 1997 provided a substantial boost in property taxes to a formerly blighted property. The Agency invested $285,000 into this project to acquire the project site. All Agency funds have been repaid, with interest.
|
$285,000 |
 |
|
|
|
Billings
Street - 10 Single Family Homes
#14 on Map
In 1997, the Agency entered into an Affordable Housing Agreement with Weiland Development Company for the acquisition of property and construction of 10 single family homes. Construction was completed in 1998 and all 10 units were sold to low and moderate income households. The Agency invested $275,000 into the project to acquire the project site. All Agency funds have been repaid, with interest.
|
$275,000 |
 |
Rehabilitation
| Year |
Project
Description |
Agency
Assistance |
|
|
| |
Casas
Nuevas - 119 Units
#15 on Map
|
$350,000 |
 |
|
| |
Cedar
Glen - 105 Units
#16 on Map
|
$500,000 |
 |
|
| |
Leslie
Road Apartments - 42 Units
#17 on Map
|
$690,000 |
 |
|
|
|
Park
Mollison Apartments
and Madison Apartments
10 Single Family Homes
#18 on Map
|
Inducement
Resolution |
Photo
Not Available. |
|
| 1998 |
Villa
Royale Apartments - 114 Units (Previously Amber Park)
#19 on Map
|
$650,000 |
Photo
Not Available. |
Back
to map
|
