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Milpitas City Council Votes on Financing for Sango Court
May 7, 2019 @ 7:00 pm - 9:00 pm
Join the Housing Ready Communities Action Network on Tuesday evening at 7pm at Milpitas City Council to ask councilmembers to approve the staff recommendation and provide $6.5 million in financing for a new supportive housing and extremely low income (ELI) affordable housing development.
City of Milpitas financing is essential to ensure the successful construction of this important housing development. The development has already received financing from the County of Santa Clara 2016 Measure A Affordable Housing Bond, and is being developed by RCD Housing. Both are important partners in our collective work to prevent and end homelessness.
HOUSING AUTHORITY: Adopt a Resolution Authorizing $6.5 million development loan for Sango Court for 355 Sango Court Affordable Housing Development and Approve Budget Appropriation (Staff Contact: Sharon Goei, 408-586-3260)
Recommendations: 1. Adopt a Resolution of the Milpitas Housing Authority to authorize the development loan to Sango Court L.P. in the amount of $6.5 million. 2. Approve a budget appropriation of $6.5 million from the Housing Authority Fund reserve into the FY 2018-19 Nondepartmental Operating Budget.
City Council agenda: http://www.ci.milpitas.ca.gov/_pdfs/council/2019/050719/Agenda.pdf