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Board approves reallocations and bond commitment to advance three affordable-housing projects
Summary
The Board of Supervisors approved reallocations of federal CDBG and HOME funds, ratified HOME-ARP acceptance, and committed $16.45 million in county housing bond funds to the Orchard Gardens affordable and supportive housing project in Sunnyvale, moving all three projects closer to construction and tax-credit applications.
The Santa Clara County Board of Supervisors on Aug. 26 approved a set of housing finance actions designed to move three affordable-housing projects forward, including reprogramming expiring federal HOME and CDBG dollars and a county bond commitment for Orchard Gardens in Sunnyvale.
County staff told the board that approximately $200,000 in expiring federal HOME funds and about $1.2 million in prior-year CDBG funds would be reallocated toward The Magnolias supportive housing acquisition, reducing the county’s bond commitment for that project and freeing bond resources for other shovel‑ready proposals. Separately, the board ratified actions to accept a one-time HOME-ARP award the county was previously offered and approved a recommendation to commit up to $16,450,000 in…
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