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Soledad authorizes deposit and letter of intent to pursue 4-acre Parcel B for affordable housing
Summary
Council approved Resolution 6354 to authorize a $10,000 escrow deposit and letter of intent to pursue purchase of Parcel B for $2.5 million, citing tentative county support of $1.68 million and the possibility of using PHA funds to develop workforce homeownership.
Soledad City Council authorized staff to sign a letter of intent and place a $10,000 deposit in escrow to pursue acquisition of a 4-acre site identified as Parcel B for potential affordable and workforce homeownership development.
Community Development staff explained the parcel is currently entitled for a mixed project (about 37 small-lot single-family units and 24 multifamily units) but said that if the city acquires…
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