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Council approves sale of two city homes to Great Valley Housing with long‑term affordability restrictions
Summary
The council approved selling two city‑owned properties on Birchwood Way to Great Valley Housing Development Corporation; appraisals were $420,000 and $410,000 and deed restrictions (55 and 30 years) will keep the units affordable.
Staff recommended transferring two city‑owned homes on Birchwood Way (573 and 591 Birchwood) to Great Valley Housing Development Corporation, a Modesto‑based nonprofit that develops and manages affordable housing across Stanislaus County. Staff said 573 Birchwood (a vacant 3‑bed, 2‑bath unit rehabilitated with PLHA and HOME funds) was appraised at $420,000; 591 Birchwood (tenant‑occupied, rehabilitated with CDBG funds) was appraised at $410,000.
Both properties will carry deed restrictions to preserve affordability: 573 Birchwood for 55 years (a PLHA requirement) and 591 Birchwood for 30 years. Staff said two proposals were received and the loan committee recommended Great Valley Housing as the best applicant. Council discussed avoiding tenant displacement and the benefits of nonprofit management; staff noted the properties had been in city ownership for multiple years and that the housing staff has recently increased capacity to move properties into reuse more quickly.
Council approved the transfer by unanimous recorded vote. Staff will finalize deeds and related agreements.
