Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Renewal Enterprise District reports 632 housing units supported; Casa Roseland begins construction
Summary
Renewal Enterprise District leaders told the Santa Rosa City Council the districthas helped produce or preserve 632 housing units, leveraged $22 million in gap financing into larger investments and closed a loan for the Casa Roseland project, which is under construction.
The Renewal Enterprise District told the Santa Rosa City Council on March 8 that it has helped bring 632 housing units to Santa Rosa through loans and grants and that its RED Housing Fund currently stands at about $22 million.
The report, delivered by Supervisor Chris Corsi and Robin Stefani, executive director of the Renewal Enterprise District, outlined the joint powers authoritycreated in December 2018 to accelerate housing production after the 2017 fires. "The city and the county both contributed $10,000,000 to this effort," Corsi said during the presentation.
Why it matters: The RED was formed to speed creation of infill, transit-oriented and mixed-use housing and to direct limited gap financing to projects that can attract additional state, philanthropic and private investment. The districtleaders said RED money has been a lever in projects that otherwise would not have advanced.
REDstaff said the district has attracted more than $70 million in grant and program funds that have helped unlock more than $1 billion in total investment in local housing development. Robin Stefani said the RED Housing Fund aggregates the cityand county contributions with other loans and matching grants to create a roughly $22…
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
