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Council conditionally commits $5 million in HOME funds and land loan to 106‑unit affordable housing project at 5th & Meridian
Summary
San Bernardino approved a conditional funding package — including $5 million in HOME funds, a $1.2 million low‑mod loan and a $3.59 million land loan — and an option to sell city property to JHC Acquisitions LLC for a proposed 106‑unit affordable development at 5th Street and Meridian; council voted unanimously.
The San Bernardino City Council unanimously approved a conditional financing package and an option to purchase city land for a proposed affordable housing development at 5th Street and Meridian.
Staff described the proposed project as a roughly $72 million capital stack to produce 106 affordable units on a 16‑parcel site (one parcel privately owned), with unit mix including one manager’s unit, 35 one‑bedrooms, 32 two‑bedrooms and 43 three‑bedrooms and targeting households from…
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