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Staff: Newark finalized transfer and leaseback for 59-unit SAHA family housing; state funding decision expected in August
Summary
City staff reported that transfer of the site to the city and leaseback to Satellite Affordable Housing Associates (SAHA) is complete; the project has submitted financing applications to the California Department of Housing and Community Development with awards expected in August and December.
City staff told the Community Development Advisory Commission that key financing milestones have been completed for a 59-unit family affordable housing project at 6347–6375 Thornton Avenue, and that the project now awaits state funding decisions.
Michael Kuhlmeier said the city released a notice of funding availability in June 2022; in January 2023 the commission recommended a loan of up to $12,000,000 from the city’s affordable housing impact fee fund to Satellite Affordable Housing Associates (SAHA). The City Council later authorized the loan. In…
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