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Galt approves $438,712.35 PLHA loan to Mercy Housing to replace aging HVAC units at Grizzly Hollow
Summary
Facing a March deadline to secure state PLHA funds, the council approved a $438,712.35 deferred, low‑interest loan to Mercy Housing to rehabilitate HVAC systems at the 54‑unit Grizzly Hollow affordable rental community; funds will be drawn on reimbursement after invoice review.
The Galt City Council voted unanimously on Feb. 17 to accept a $438,712.35 allocation from the state's Permanent Local Housing Allocation (PLHA) program and to award a low‑interest, fully deferred 55‑year loan to Mercy Housing to rehabilitate Grizzly Hollow, a 54‑unit deed‑restricted affordable rental development built in 2006.
Community Development staff said the PLHA funds are time sensitive and would otherwise revert to the state if not…
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