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Council authorizes $615,000 reimbursement to capital fund for discounted sale to Habitat for Humanity
Summary
Council approved transferring $615,000 from the Folsom Housing Fund to the Capital Facilities Fund to reimburse a general‑fund subsidy tied to the discounted sale of city property at 300 Percifer Street to Habitat for Humanity for Greater Sacramento.
The City Council on Oct. 14 approved a resolution to reimburse the general fund by transferring $615,000 from the Folsom Housing Fund to the Capital Facilities Fund. The transfer recognizes the difference between the property's pre‑subdivision estimated market value and the discounted price Habitat for Humanity paid when the city sold the 300 Percifer Street site for an affordable, for‑sale housing project.
Pam Johns, Community Development director, explained the background: the city declared the 300…
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