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Council narrows Swift Avenue loan, preserves housing-commission NOFA funds after funding-decision dispute
Summary
After concerns from the independent budget analyst and council members about shifting CDBG funds, the City Council reduced a proposed $5.7 million Bridge-to-Home loan for the Swift Avenue affordable-housing project to $4 million and directed that $6 million earmarked for the Housing Commission remain available for its NOFA.
Council members on March 25 debated whether a proposed city Community Development Block Grant (CDBG) loan increase for the Swift Avenue Apartments would undo a prior council budget directive before approving an amended staff recommendation.
The amendment reduced the Economic Development Department’s proposed Bridge-to-Home loan to Swift Avenue Housing Associates LP from up to $5.7 million to $4 million and left intact $6 million previously set aside for the San Diego Housing Commission’s NOFA. Councilmember Elo Rivera moved the amendment and Council President Pro Tem Lee seconded it; the council adopted the change before approving…
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