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Housing Opportunity Fund approves $600,000 grant for six renovated homes on Edith Place in South Oakland
Summary
The HOF advisory board authorized up to $600,000 in For-Sale Development Program funding for Oakland Planning and Development Corporation to cover holding and soft costs for six renovated two-bedroom homes that will remain affordable to households at or below 80% AMI for 99 years.
The Housing Opportunity Fund advisory board approved an increase to a For-Sale Development Program grant for Oakland Planning and Development Corporation (OPDC) to help sell six rehabilitated for-sale homes on Edith Place in the South Oakland neighborhood.
David DeBernardo, lending analyst in the URA residential lending department, told the board the grant will increase the existing award from $420,000 up to $600,000 to cover additional holding costs, soft costs and recent maintenance expenses incurred while units remained on the market. With the increase, HOF…
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