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Council approves $1.45 million loan to Housing Authority for 15 South Hope affordable housing project
Summary
The City Council approved a loan agreement and related budget amendment to provide up to $1,450,000 from affordable housing reserves to the Housing Authority of the City of Santa Barbara for development at 15 South Hope, subject to reversal if state funding is awarded.
Santa Barbara —n(2025-03-11) —nAt their March 11 consent calendar hearing, the Santa Barbara City Council approved a loan agreement and an associated budget amendment to fund an affordable housing development at 15 South Hope Avenue.
What the council approved: The council adopted an ordinance introduction and a resolution to approve a loan agreement with…
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