Agenda Item
10. (City Council/Housing Authority) San Juan Apartments - A Mutual Housing Community (Project): Approval of Loan Documents with San Juan Mutual Housing Associates, L.P. in the Amount of $2.5 Million in Prohousing Incentive Pilot Program (PIP) Funds; Approval of Seller Carry Back Loan in the Amount of $535,000; Authorization to Enter into an Agreement with the City of Sacramento for PIP Funds to be used for the Project [Published for 10-Day Review 04/24/2024] File ID: 2024-00568
We are writing in strong support of the staff recommendation to provide funding for Mutual Housing California’s San Juan Apartments Community. This action by the City Council and the Sacramento Housing and Redevelopment Agency (SHRA) will allocate $2.5 million in Prohousing Incentive Pilot (PIP) Program funds, and an additional $535,000 in seller carryback loan funding.
This community on Stockton Boulevard and Young Street will deliver 113 affordable homes, of which 70 are for formerly unhoused people through Permanent Supportive Housing (PSH), with supportive services offered on site to residents. It also supports low-income families by providing apartment rents at 30 to 60% of area median income (AMI) for extremely-low, very-low, and low-income individuals and families.
Safe, accessible, and affordable homes provide a platform for individuals and families to gain stability, health, and security. San Juan Apartments Community will provide desperately needed affordable housing in the City of Sacramento and provide long term benefits for the community. We urge you to adopt this staff recommendation unanimously.
Jonathan Cook
Executive Director
Sacramento Housing Alliance