Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Lake Forest approves $4.35 million loan to National Community Renaissance for Aspen Court affordable housing
Summary
The Lake Forest City Council and Housing Authority unanimously approved a $4,350,000 loan to National Community Renaissance to build the Aspen Court affordable housing project, which will be restricted as affordable for 55 years and include an on-site property manager and a dedicated room for Lake Forest Police Services.
The Lake Forest City Council and the Lake Forest Housing Authority voted unanimously to approve a $4,350,000 loan to National Community Renaissance to develop the Aspen Court affordable housing project.
City Economic Development Manager Adrian Grijalva presented the proposal, saying the site at 22471 Aspen Street was selected in part because it can be built as a "by right" project under state law and local development standards. Grijalva said the city and authority would require the project to be operated as affordable for a 55-year term and would include a dedicated room with its own entrance and restroom for Lake Forest Police Services.
The project summary shown to the council described a four-story courtyard building that staff called a 50-unit development and listed building amenities including a community room, playground,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
