Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Roseville approves $1.5 million loan to convert Hampton Inn into 82 supportive housing studios
Summary
City council approved a regulatory agreement and $1.5 million residual‑receipts loan from Home Program Income funds to Advocates for Mentally Ill Housing (AMI) to finish rehabilitation of the Sunrose Apartments into permanent supportive housing; terms include 55‑year affordability and 3% annual interest accrual.
The Roseville City Council on Feb. 5 approved a regulatory agreement, loan agreement, promissory note and deed of trust to loan $1,500,000 to Advocates for Mentally Ill Housing Inc. for the Sunrose Apartments project, a conversion of the former Hampton Inn on North Sunrise and Douglas Boulevard into permanent supportive housing.
City housing manager Tricia Isom told the council the loan will come from the Home Program Income Fund and is structured as a residual‑receipts loan that will accrue on the outstanding principal at 3% per year. She…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
