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Board delays Jamboree affordable-housing financing after questions about fees and internal sale
Summary
Supervisors discussed a proposed $61 million renovation and financing package to preserve 186 affordable units for 55 more years. Concerns about developer fees, a related-entity sale and the county's repayment waterfall prompted the item's continuation to Aug. 13.
The Orange County Board of Supervisors on July 23 debated a complex financing package to restore Mendocino-area affordable housing and extend affordability covenants by 55 years, then voted to continue the matter to the board's next meeting.
OC Community Resources staff described the project as a roughly $61,000,000 financing package to renovate 186 affordable units, addressing extensive plumbing failures and bringing the property up to current ADA and code…
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