Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Salinas creates down‑payment assistance program using $1.03M in PLHA funds to help 8–10 households
Summary
Council approved a first‑time homebuyer mortgage down‑payment assistance program using about $1,034,137 in PLHA funds, offering deferred loans up to $125,000 (3% simple interest, forgivable under conditions) to eligible Salinas residents; staff expects to submit guidelines to the state and launch in spring pending HCD approval.
The Salinas City Council voted unanimously Jan. 27 to establish a first‑time homebuyer mortgage down‑payment assistance program and to allocate approximately $1,034,137 in Permanent Local Housing Allocation (PLHA) funds from prior years.
Orlando Reyes, assistant director of community development, said the program is designed to support residents and applicants employed in the city who meet income and residency requirements. The proposed assistance would be a one‑time deferred loan with 3% simple…
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
