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Council backs Chelsea Investment application for $10M HOME request for 80‑unit affordable housing project
Summary
Council unanimously approved Resolution 2024‑415 to support Chelsea Investment Corporation’s $10 million HOME program application for an 80‑unit family affordable housing project at 15837 Eighteenth Avenue; Chelsea said HOME funding is the last piece before applying for federal tax credits and beginning construction next year.
Clear Lake — The council voted March 21 to support a funding application to the California Department of Housing and Community Development for an 80‑unit affordable family housing development by Chelsea Investment Corporation at 15837 Eighteenth Avenue.
City staff said the city would act as the applicant for the HOME Investment Partnerships Program application. Heidi Mather of Chelsea Investment said the HOME funding would be “the last piece of the financing puzzle” before seeking federal low‑income housing tax credits and, if awarded, would allow construction to begin late next year.
Council moved and approved Resolution 2024‑415 unanimously; the record shows a motion from Council Member Salutin with a second from Council Member Kramer and the clerk recorded the vote as unanimous. City staff said subsequent application steps and agreement execution would be handled by the Community Development Department and staff would report back to council on application status.
Next steps: staff to finalize and submit the HOME application and return to council with an application status update.
