Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council backs city loans to help secure site for 110‑unit affordable project at McCarthy and San Rafael
Summary
Council approved a $2.25M acquisition loan and up to $2.5M in fee loans to help Pacific West Communities secure land and close a financing gap for a 110‑unit affordable development at McCarthy Road and San Rafael Drive. Developer said city financial commitments strengthen the project's competitiveness for state tax credits.
Palm Springs City Council on Jan. 14 approved commitments of city financing to help Pacific West Communities (TPC) move a 110‑unit 100% affordable project forward at the northwest corner of McCarthy Road and San Rafael Drive.
Housing staff requested two related actions: a $2,250,000 city acquisition loan to allow the developer to close on roughly five acres and a subordinated city fee loan for up to $2,500,000 to capture eligible development impact fees…
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
