Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Yuba City approves $1.5 million to close funding gap for Richland Village affordable housing
Summary
The Yuba City Council approved a $1.5 million loan from the city’s low/mod housing asset fund to help close a $2.5 million gap for the 133‑unit Richland Village project. Officials said the funds are redevelopment‑era housing dollars and that construction depends on final tax‑credit closing and RHA board approval.
YUBA CITY — The City Council on Tuesday approved a $1.5 million funding assistance package for the Richland Village affordable housing project, saying the aid is intended to help bridge a remaining financing gap and allow the developer to move to construction.
Doug Libby, Yuba City staff, told the council the project at 470 Bernard Drive is a proposed 133‑unit affordable development with an estimated total cost of about $67 million. The city previously committed $1 million; staff said a remaining gap of $2.5 million remains and that the Regional Housing Authority (RHA) has $1 million of…
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
