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Housing Authority clarifies loan security for Zane Wolf Veterans Village, approves revision
Summary
The Authority approved a resolution clarifying that its conditional $489,228 rehabilitation loan for Zane Wolf Veterans Village will be secured by a leasehold deed of trust because the county owns the parcel; vote passed 6–0 with one absence.
The Housing Authority on Jan. 26 approved a revision to a prior conditional award for Zane Wolf Veterans Village to clarify that the $489,228 rehabilitation loan will be secured by a leasehold deed of trust, not a traditional deed of trust. The vote passed with six affirmative votes and Vice Chair Downey absent.
Rebecca Lane, program specialist, explained the 14-unit project is located on county-owned land within Santa Rosa city limits and that Community Housing Sonoma County (CHSC) does not own the parcel. Because CHSC cannot execute a traditional deed of trust on county-owned land,…
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