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Developers say Valley View Commons financing gap could close with Homekey Plus or tax credits
Summary
Danco and county staff told supervisors the No Place Like Home/Valley View Commons affordable housing project has secured about $15 million from state sources and faces an $11 million financing gap; the developer applied for Homekey Plus and will also pursue low‑income housing tax credits as a fallback.
County staff and Danco Housing Group updated the Board of Supervisors on May 13 on the No Place Like Home (NPLH) project that will be called Valley View Commons. The project is intended to provide permanent supportive housing for populations including people with behavioral‑health needs.
Danco representative said the project currently has roughly $15 million in committed state financing and needs approximately $11 million more to close the capital stack and begin construction. The developer has pursued two parallel paths: (1) a Homekey Plus application to cover the remaining gap (a state one‑time program aimed at clearing stalled affordable housing projects) and (2) continued pursuit of low‑income housing tax credits (which…
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