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Board approves $2.5 million conditional loan and TEFRA hearing for Auburn Falls RAD conversion
Summary
The board approved a TEFRA hearing and a conditional $2.5 million housing authority loan for the Auburn Falls rental-assistance-demonstration rehabilitation of 76 units across four scattered sites; one site was removed after a structural inspection.
The Board of Supervisors approved a Tax Equity and Fiscal Responsibility Act hearing and authorized a conditional $2.5 million loan from Housing Authority funds on April 8 for the Auburn Falls RAD (Rental Assistance Demonstration) rehabilitation project.
Whitney Hinton of the Sacramento Housing and Redevelopment Agency told the board that the project will rehabilitate 76 former public-housing units at four scattered sites in Sacramento County and the city of Citrus Heights, serving households at 40–60% of area median income. Hinton said one site was removed from the project after a structural inspection found rehabilitation infeasible; the property will be demolished outside the scope of this project.
Hinton described interior and exterior rehabilitation work including mechanical systems, roofing, kitchens, bathrooms, flooring and community spaces; Sacramento Housing Authority Repositioning Program (SHARP) is the developer, property management will remain with the Housing Authority, and resident services will be provided by Health Education Council with a minimum of 15 hours of resident services per week.
Following staff presentation and with no public speakers, the board approved the TEFRA hearing, the conditional loan commitment of $2.5 million and related final loan and bond documents to allow project financing to close.
