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Board approves HUD-funded allocations for 80 affordable units, moves CDBG funds to meet escrow deadlines
Summary
The Board approved staff recommendations to fund two affordable housing projects and allocate prior‑year CDBG to Monterey Family Apartments to allow escrow to close after the project unexpectedly received state tax credits; staff said the 2026 action plan will be finalized April 7 and $119,993 of HOME funds are reserved for CHDO allocation.
The San Luis Obispo County Board of Supervisors on Feb. 3 approved staff recommendations for the Urban County’s 2026 action plan, authorizing funding commitments for two affordable housing projects and a prior‑year CDBG allocation to allow Monterey Family Apartments to close escrow after it received state tax credits.
Marj Castle, program manager for the Department of Social Services’ Homeless Services Division, told the board the recommended projects collectively will create 80 affordable housing units. Staff recommended using HOME and CDBG funds to make two projects more competitive for tax credits: Mesa Trails Family Apartments (Nipomo), proposed to provide 30 family units and requesting $1,249,906 (staff recommended $246,437 in HOME funds), and a San Luis Obispo mixed‑use project proposing 50 units (staff recommended $253,532 in HOME funds). Castle said a CHDO did not apply for 2026 funds, leaving an estimated $119,993 HOME set‑aside to reserve for a future CHDO allocation.
Monterey Family Apartments had unexpected state tax credits and faced imminent escrow deadlines; staff recommended allocating $420,380 in prior‑year CDBG to the project so escrow could close in time. Michelle Pedego, executive director of HASLO (the nonprofit developer), thanked staff for rapidly coordinating and providing the funds so the project could move forward.
The board discussed questions about CHDO eligibility and application processes and how applicants will be notified; staff said the action plan will be posted for public review in March and is scheduled for final board approval April 7, 2026. The motion to adopt staff recommendations passed unanimously on roll call.
