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Council approves financing for I Street affordable housing project; $2M PLHA loan and bond authorization cleared
Summary
Council approved staff recommendations to authorize tax-exempt mortgage revenue bonds and a $2,000,000 PLHA loan for an 8-story, 84-unit I Street Apartments project serving households at approximately 30–80% AMI; Council directed follow-up design review and entitlements.
The Sacramento City Council approved staff requests to authorize the issuance of tax-exempt mortgage revenue bonds and a $2,000,000 loan of Permanent Local Housing Allocation (PLHA) funds for the I Street Apartments, an 8-story, 84-unit affordable housing development proposed at 15th and I Street.
Christine Weigert of the Sacramento Housing and Redevelopment Agency summarized the project: the building would include one- and two-bedroom units, bicycle storage, laundry facilities, an outdoor courtyard, a…
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