Danco updates Valley View Commons project with new income guidelines and funding strategies

During the recent Amador County Board of Supervisors meeting held on May 13, 2025, significant discussions centered around the Valley View Commons project, previously known as the No Place Like Home initiative. This project aims to address the pressing need for affordable housing in the region, particularly for vulnerable populations.

The meeting provided an update on the project's financing status, revealing that approximately $15 million has already been secured from the state. However, there remains a funding gap of about $11 million necessary to move forward with construction. To address this shortfall, project representatives outlined two potential financing paths: the highly competitive low-income housing tax credit program and the newly introduced Homekey Plus program, designed to assist stalled affordable housing projects.

Chris from Danco, the project developer, emphasized the importance of the Homekey Plus program, which could potentially fill the funding gap if the application is successful. This program requires that all units be designated for extremely low-income residents, specifically those earning 30% of the area median income (AMI). This shift from the previously planned 50% AMI units aims to enhance the project's eligibility for funding.

The board expressed concerns about the implications of these changes, particularly regarding the impact on the community's broader affordable housing needs. The project aims to prioritize low-income seniors for some of the units, addressing a demographic that has been significantly affected by homelessness in the area.

In response to questions about the likelihood of securing funding, project representatives indicated a positive outlook, citing recent discussions with state housing officials who suggested a high probability of success due to the project's alignment with state goals for affordable housing.

The meeting concluded with a commitment from the board to support the project as it navigates the complexities of funding and regulatory requirements. The anticipated timeline for updates on the Homekey Plus application is set for June 2025, with hopes that either this or the tax credit option will enable the project to proceed. The discussions highlighted the ongoing challenges and strategies involved in addressing housing shortages in Amador County, underscoring the importance of collaborative efforts to meet community needs.