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Big Bear Lake approves $3.5 million to extend affordability at Mountain Meadows senior housing
Summary
The City Council voted 4–1 to authorize a one‑time $3.5 million payment (or a two‑payment $3.8M option) to purchase rent credits that extend affordability for 74 senior units through 2035 and consolidate agreements; debate centered on cost per unit, tenant protections and funding sources.
The Big Bear Lake City Council on Nov. 12 approved an amendment to the affordable housing agreement with the Northridge Group that preserves 74 senior affordable units at Mountain Meadows by purchasing rent‑credit value that extends affordability. The motion passed 4–1; Council Member Hicks cast the lone no vote.
City staff and the developer presented a third amendment that would consolidate two prior agreements, extend affordability for all 74 units through 2035, and increase the allowable annual rent escalation from 4% to 5%. The city attorney recommended structuring the purchase as a…
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