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Board approves $2.5 million HOME loan and bond backing for Power Inn Family affordable housing
Summary
Supervisors approved issuance of tax-exempt mortgage revenue bonds and a $2.5 million HOME loan commitment to the Power Inn Family project, a new five-story, 73-unit development for households at 30–60% of area median income; staff said the developer is applying for additional AHSC funds and low-income housing tax credits.
The Sacramento County Board of Supervisors unanimously approved financing for the Power Inn Family affordable-housing project on Feb. 10, voting to authorize tax-exempt mortgage revenue bonds and a conditional HOME loan commitment of $2,500,000.
Christine Weikert of the Sacramento Housing and Redevelopment Agency (SHRA) told the board that the five-story, 73-unit…
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