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County gets financing plan options for sales‑tax affordable‑housing fund; staff to refine loan terms
Summary
SB Friedman presented program guidelines, a developer application and three loan‑term options (30‑year amortization, interest‑only with year‑15 balloon, and a hybrid) for the county's IST sales‑tax funded affordable housing program and said projects typically take two-plus years from conditional approval to completion.
Consultants from SB Friedman updated the commission on implementation of the county’s sales‑tax (IST) affordable‑housing program, walking the board through an Excel‑based application and scorecard, potential loan terms for gap financing, and options for land‑purchase/ground‑lease treatment.
Elena Kaminer (speaker 27) told commissioners the county has drafted program guidelines, prepared a more user‑friendly assistance application and scoring tool, and is negotiating term sheets for two previously approved projects (cited as Royal Park/Seniors by Banyan and Oak View…
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