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Yolo County Housing Authority to Consider Partnership on 342‑Unit Davis Project with 69 Units Deed‑Restricted
Summary
Developers presented a missing‑middle new‑construction model using the California welfare tax exemption; Yolo County Housing staff signaled support to draft a regulatory agreement and offer a $25,000, 3% one‑year loan to meet state property‑tax abatement requirements, with final agreements targeted for the March meeting.
John Vinocchi, founder and managing partner of Urban Capital, on Jan. 22 presented a proposed 342‑unit new‑construction project at 1616 Da Vinci Court in Davis and asked the Yolo County Housing Authority to consider a partnership to secure a welfare tax exemption and deed‑restrict a portion of the building as workforce housing.
The project would replace an existing office building on a little more than 2 acres and, according to Vinocchi, would deed‑restrict 69 units — “slightly over 20% of the total” — at 80% of area median income in perpetuity. Vinocchi said Urban Capital plans to replicate a model used with the Capital Area Development Authority (CADAA) in Sacramento that uses the California welfare tax exemption, a small public assistance contribution and a nonprofit partner to administer income certification and programming.
The welfare tax exemption is a state property‑tax…
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