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Council reallocates $2.05 million from Palomobil Estates loan program to housing preservation fund
Summary
City staff recommended, and council approved, allowing the Palomobil Estates loan program contract to expire and redirecting $2,050,000 from the Housing In Lieu Fund to an Affordable Housing Preservation Program; staff said the reallocation unlocks $34,000 in county seed funding.
City housing staff presented a recommendation to reassign $2,050,000 previously reserved for a Palomobil Estates loan program to a new Affordable Housing Preservation Program. The staff report said Palomobil Estates (a 117-space mobile home park) initially received local staffing and a $2 million commitment to help resident lot purchases, but few residents accepted the loan offer. "The recommendation we're asking for tonight is to resend 2,050,000 from the Mount Palo mobile estates or PME loan program, allow expiration of the EPA CANDU administration contract on May 15, and redirect funds to a no affordable housing preservation program," Tim Davis said during the presentation.
Staff framed the preservation fund as a faster, more flexible way to preserve affordable housing citywide and noted it would leverage a $34,000 county seed grant if the council allocated the funds before the county deadline in June. Council members discussed allowable uses under the municipal code and confirmed that housing-in-lieu funds must be used for affordable housing creation or preservation; a motion to adopt the staff recommendation was moved, seconded and approved by the council.
