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Housing authority unanimously extends loan and affordability term for Benton House
Summary
The authority unanimously approved a 30‑year extension of the Housing Authority loan and regulatory agreement for California Programs for the Autistics' Benton House (325 Major Drive), aligning loan and regulatory terms through 2056.
At item 12.1 staff presented a request to extend the housing authority loan and regulatory agreement for California Programs for the Autistics (CPA) Benton House at 325 Major Drive.
Angela Morgan, program specialist with the Housing and Community Services Department, said the housing authority loan matures on Sept. 1, 2026 and carries an outstanding principal of $30,899.53 plus accrued interest of $24,823.20, for a total of $55,722.73 due at maturity. Staff recommended extending the loan 30 years to Sept. 1, 2056 and aligning the regulatory agreement term to the same date to ensure continued affordability and services for vulnerable adults served by CPA.
A public commenter asked whether interest would compound over the extended term and requested details on the interest rate; the transcript shows the commenter sought clarification but staff did not provide a numeric rate at the microphone during public comment.
Commissioner Fearon moved to approve the department recommendation; Vice Chair Capio seconded. Roll call recorded five ayes (Fearon, Wimmer, Conte, Capio, Chair Smith) and the motion passed unanimously.
Staff said compliance inspections found Benton House in good condition and that CPA will continue to own and operate the project consistent with the regulatory agreement if the extension is approved.
